Question
As per the Foreign Trade Policy (FTP) 2023, certain
transactions are classified as "deemed exports," where goods do not physically leave the country, but they are still treated as exports for various benefits and incentives. Which of the following is/are considered deemed exports under FTP 2023? 1. Supply of goods to projects funded by international agencies such as the United Nations. 2. Supply of capital goods to Export Oriented Units (EOUs). 3. Supply of goods against Advance Authorization for manufacturing goods meant for export.Solution
According to FTP 2023, "deemed exports" include transactions where goods do not physically leave the country but are still treated as exports for various benefits. These include: · Supply of goods to projects funded by international agencies like the United Nations. · Supply of capital goods to Export Oriented Units (EOUs). · Supply of goods against Advance Authorization for manufacturing goods meant for export. All of these transactions are recognized as deemed exports for the purpose of receiving benefits under the FTP framework.
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