Re- Import of Goods without payment of Duty

October 23, 2024

 Re- Import of Goods without payment of Duty Re-importing goods without payment of duty is allowed under various Customs notifications. Goods that were earlier exported can be brought back into the country without payment of import duties and taxes.Common...

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Status Holder Certificate

October 23, 2024

Status Holder Certificate All exporters of goods & services having an import-export code (IEC) number shall be eligible for recognition as a status holder on achieving specific turnover. Status recognition depends upon export performance An applicant shal...

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Duty Drawback Under Section 74

October 23, 2024

Duty Drawback Under Section 74 According to section 74 of Customs Act 1962, when duty paid imported goods are re-exported in used or unused condition within two years, the importer may claim refund of import duty up to maximum 98% of the customs duty paid...

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Special Valuation Branch (SVB)

October 23, 2024

Special Valuation Branch (SVB) The “Special Valuation Branch” (SVB) is Set-up by Indian Customs to Investigate the transactions in import of goods from related party supplier (examine the impact of relationship on invoicing / valuation) in import.Mumbai /...

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Direct Port Delivery (DPD)

October 17, 2024

Direct Port Delivery (DPD) This is the initiative of custom under ease of doing scheme. In this facility importer can take the delivery directly from the port.Purpose 1) To Promote Ease Of Doing Business.2) To deliver containers directly from JNPT Port to...

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Preferential Trade Agreements

October 16, 2024

Preferential Trade Agreements A key benefit under PTA is preferential tariff, i.e. applicability of lower customs duty on import of goods from partner countries. India has notified separate rules for determining whether goods being imported from a country...

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Brand Rate Fixation (Custom Act Section 75)

October 16, 2024

Brand Rate Fixation (Custom Act Section 75) When the manufacturer import the Raw material, Components & packing material after paying the Basic Custom Duty (BCD) & Social Welfare Surcharge (SWS) and utilizing the same for the manufacturing of export produ...

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FSSAI License

October 16, 2024

FSSAI License FSSAI License is issued by the Food Safety & Standard Authority of India ensuring that A Food Business Operator ( FBO ) complies with Food Safety & Standards ACT,2006 and Regulations. Objectives 1. Set standards for food quality, safety, and...

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RESTRICTED LICENSE

October 16, 2024

RESTRICTED LICENSEAs per the provisions of Exim Policies, The Central Government, in public interest, regulates the import or export of goods by means of a Negative List. This Negative Lists consist of goods for Export & import which are prohibited or res...

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International Organization for Standardization (ISO)

October 16, 2024

International Organization for Standardization (ISO) ISO is a worldwide federation of national standards bodies. ISO is a nongovernmental organization that comprises standards bodies from more than 160 countries.Purpose of ISO:The purpose of ISO certifica...

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FREE TRADE AGREEMENT ( FTA )

October 14, 2024

FREE TRADE AGREEMENTA free trade agreement is an agreement between two or more countries to reduce trade barriers In International trade. Under a free trade agreement, goods can be bought and sold across international borders with no tariffs.It aims at re...

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Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET LICENSE)

October 11, 2024

Special Chemicals, Organisms, Materials, Equipment and Technologies  (SCOMET LICENSE)Export of dual-use items and technologies under India’s Foreign Trade Policy is regulated, either prohibited or permitted under a license. In Current Foreign Trade Policy...

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EXPORT PROMOTION CAPITAL GOOD ( EPCG ) SCHEME

October 09, 2024

EXPORT PROMOTION CAPITAL GOOD ( EPCG ) SCHEME ObjectiveThe Export Promotion Capital Goods (EPCG) scheme is one of the several export-promotion initiatives launched by DGFT. The core purpose of the scheme is to allow exporters to import machinery and equip...

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Self-Sealing Permission ( SSP )

October 03, 2024

Self-Sealing Permission Purpose Central Board of Indirect Taxes and Custom (CBIC ) has approved the program to promote exports Self Sealing Permission earlier was called as Factory Stuffing Permission; this permits containerize cargo to seal at their fact...

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Duty Free Import Authorization Scheme (DFIA)

October 02, 2024

Duty Free Import Authorization Scheme (DFIA) ObjectiveThis scheme providing duty free inputs on post exports basis as a  replenishment so that export product becomes competitive in the international market.DFIA is freely transferable.  Eligibility Criteri...

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Extended Producer's Responsibility (EPR)

September 28, 2024

Extended Producer's Responsibility (EPR) EPR is a policy approach that makes manufacturers responsible for the environmental impacts of their products throughout their products lifecycle, from design to disposal. As per the EPR rules of India, EPR Registr...

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Authorized Economic Operator ( AEO )

September 27, 2024

Authorized Economic Operator ( AEO ) ‘AEO is Authorized Economic Operator ‘program under World Customs Organization (WCO) to create an international trade in Safe and Secured framework. The program aims to enhance international supply chain security and f...

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Advance Authorization

September 26, 2024

Advance Authorization Manufacturer Exporters are allowed to import raw material & packing material without payment of custom duty (inclusive of other duties) and IGST to manufacture export products. The most important benefit is that you get exemption fro...

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Free Trade Warehousing Zone ( FTWZ )

September 21, 2024

FTWZ : The key objectives of FTWZ in India includes: Promoting and facilitating global trade.  Simplifying customs procedures and reducing transaction cost. Free Trade Warehousing Zone is deemed foreign territory within geography of India. It is considere...

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Advance Ruling

September 18, 2024

Advance Ruling is Trade Facilitation as per WTO agreementImporters and Exporters who have ambiguity about their goods Classification, Duty structure and Valuation method can go for Advance Ruling. Advance Ruling will ensure tariff classification, exemptio...

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FTP Bullet points

April 04, 2022

As per Notification 57 Dated 31.03.2020 and PN 67 Dated 31.03.2020 Foreign Trade Policy 2015-2020 along with the procedures is extended for one year i.euo to 31.03.2021.All the export incentives including MEIS, SEIS, EPCG and other benefits stand extended...

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What is the procedure of import and export in India?

April 04, 2022

In this article, we are going to discuss in detail the procedure of Import and Export in India.The Foreign Trade (Development and Regulation) Act, 1992, of India regulates the import and export of goods. It also facilitates the government to make necessar...

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What is the procedure of Custom Clearance for Export?

April 04, 2022

The Export clearance procedure is an important step while exporting goods from India.Customs Clearance is the process of authorization of a person or goods by the Customs Department.The authorization takes place after providing the proper customs clearanc...

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What are the documents required for import & export

April 04, 2022

In this article, we are going to have a look at all the necessary documents required for the import and export procedure to be completed successfully.These import and export documents are essential to be kept in mind while importing or exporting goods.Let...

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