Priyanka Kumari | Dec 26, 2023 |
DGFT 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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