The Directorate General of Foreign Trade (DGFT) on March 22, 2024, issued a notification regarding the Amendment of the Policy Condition of Petroleum Crude Oil (ITC HS Code 27090010).
The following has been stated namely: -
• It specifies that ITC HS Code – 27090010 – Petroleum Crude, the policy condition was ‘Export Through Indian Oil Corporation Ltd.’, now it has been revised to “AMI (ADNOC Marketing International India RSC Ltd.) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore SPR, at their own cost”.
[Notification no. 80/2023]
