DGFT Revises ITC (HS) 2022 Import Policy in Sync with Finance Act 2024

The Directorate General of Foreign Trade (DGFT) has revised the Import Policy for the 2022-23 period, aligning it with the Finance Act of 2024. The revised policy includes modifications to the Importer-Exporter Code (IEC) and changes to the list of goods eligible for import under various categories. The updated policy aims to streamline import procedures and improve compliance with the newly amended tax and regulatory frameworks. The revisions also provide clearer guidelines for businesses involved in international trade, particularly in relation to GST and customs duties. This move is part of the ongoing efforts by the DGFT to ensure that India's foreign trade regulations are aligned with the latest fiscal policies and international trade practices.