DGFT Notification: New Norms for Deemed Export Benefits in 2024

The Directorate General of Foreign Trade (DGFT) has clarified the procedural requirements for claiming benefits under the Deemed Export framework for the current fiscal year. As per Chapter 7 of the Foreign Trade Policy 2023, supplies that do not leave the country but result in foreign exchange earnings or support infrastructure development are eligible for specific terminal excise duties (TED) and duty drawback (DBK). Recent administrative updates emphasize the necessity of timely filing via the DGFT online portal to avoid late cuts on claims. Manufacturers supplying goods against Advance Authorizations or to EOU/STP/EHTP units must ensure that all requisite 'Project Authority Certificates' are digitally signed and uploaded accurately. ## What this means for exporters Domestic manufacturers who function as sub-contractors or suppliers to major export projects can significantly improve their cash flow by leveraging these refunds. Compliance with DGFT Notification No. 1/2023 (as updated) and relevant trade notices is essential to ensure that applications are not rejected due to technical discrepancies in the 'AANF 7A' forms. Ensuring that the supply is against an invalidation letter or a specific government-tendered project is the primary criterion for eligibility.