What is the meaning of "Deemed Exports" for the purpose of Foreign Trade Policy (FTP) and Goods and Service Tax (GST). What are the benefits for Deemed Exports?

Deemed Exports for the purposed of foreign Trade Policy (FTP) and Good and Services Tax (GST) are given below: "Deemed Exports" for the purpose of this FTP refer to those transactions in which goods supplied do not leave country, and payment for such supplies is received either in Indian rupees or in free foreign exchange. Supply of goods as specified in Foreign Trade Policy shall be regarded as "Deemed Exports" provided goods are manufactured in India. "Deemed Exports" for the purpose of Goods and Service Tax would include only the supplies notified under Section 147 of the CGST/SGST Act, 2017 on the recommendations of the GST Council. The benefits of GST and conditions applicable for such benefits would be as specified by the GST Council and as per relevant rules and notification. Benefits for Deemed Exports are as follow: Deemed exports shall be eligible for any/all of following benefits, in respect of manufacture and supply of goods, qualifying as deemed exports, subject to terms and conditions as given in Hand Book & Procedure and ANF-7A: Advance Authorisation/Advance Authorisation for annual requirement/ DFIA. Deemed Export Drawback for BCD (Basic Custom Duty). Refund of terminal excise duty for excisable goods.