The much-awaited Foreign Trade Policy 2023 intends to modify various export promotion schemes and procedures for export and import. The Finance Act, 2023 has proposed changes to the Manufacture & Other Operations in Bonded Warehouse (MOOWR) Scheme. Additionally, an Amnesty Scheme has also been introduced for regularizing the Export Obligation defaults under Advance Authorisation and EPCG Scheme.
The intention has been to promote exports, attract foreign investment, expand trade and economic cooperation while simplifying procedures. It is imperative for businesses to have an in-depth understanding of the proposed changes to ensure that their organizations are prepared and well-equipped to implement the budget proposals.
Lakshmikumaran and Sridharan Attorneys is organising a webinar on Monday, 10th April 2023 from 3:00 PM – 4:30 PM, to discuss the policy changes as well as practical issues and difficulties faced by stakeholders while availing benefits under the various incentive schemes.
The webinar would also cover:
- Significant changes introduced by the Foreign Trade Policy 2023
- Amnesty Scheme for bona fide defaults in Export Obligation
- Perpetuity of the Foreign Trade Policy without any time limit
- Amendments in AA/ EPCG Scheme
- Incentive to entities involved in electronic commerce
- Intricacies of Trade Digitization
Significant Amendments to the Manufacture & Other Operations in Bonded Warehouse (MOOWR) Scheme introduced vide the Finance Act, 2023
Speaker Name
Viswanathan T., Principal Partner & Customs Head