DGFT issued clarification on the

Dec 22, 2023 | by TeamLease RegTech Legal Research Team

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Finance & Taxation Compliance The Director General of Foreign Trade, (DGFT) on December 21, 2023, Clarification on the applicability of minimum value addition as provided under 4.09(v) of FTP,2023 in the case of spices.

Attention is drawn towards Para 4.09 (v) of Foreign Trade Policy 2023 which mandates a 25% minimum value addition in the case of spices. It is clarified that the condition of maximum value addition of 25% in the case of spices is applicable only where both export, as well as import items, pertain to Chapter 9 of the ITC HS Code.

[Notification No. 07/2023]

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