DGFT issued Clarification on applicability of Minimum Value Addition on Spices under FTP 2023:
Clarification on applicability of minimum Value Addition on Spices under FTP 2023 issued by DGFT.
Clarification on applicability of Minimum Value Addition on Spices
Priyanka Kumari
Dec 26, 2023DGFT issued Clarification on applicability of Minimum Value Addition on Spices under FTP 2023
The Directorate General of Foreign Trade (DGFT) issued a clarification on the applicability of the minimum Value Addition on Spices under FTP 2023 via issuing a Policy Circular.
The Official Policy Circular Stated:
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 a minimum 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.
For Official Circular Download the PDF Given Below:
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