New Delhi, March 22 -- The Commerce Ministry has notified exemption from IGST (Integrated Goods and Service Tax) and compensation cess under Advance Authorization, Export Promotion Capital Goods (EPCG) and Export Oriented Units (EOU) scheme up-to March 31, 2020.
An Advance Authorization is issued to allow duty free import of inputs, which are physically incorporated in export product (making normal allowance for wastage).
EPCG is an export promotion scheme under which an exporter can import certain amount of capital goods at zero duty for upgrading technology related with exports.
The Export Oriented Units (EOU) scheme was introduced to boost exports, increase foreign earnings and created employment in India.
The notification of Dir...