DGFT - Page 10

Salient features of Merchandise Export from India Scheme (MEIS)

The Government of India has introduced Merchandise Exports from India Scheme (MEIS) through the Foreign Trade Policy (FTP) 2015-20 w.e.f. April 1, 2015. It seeks to promote export of notified goods manufactured/ produced in India....

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Clubbing of Advance Authorizations for Annual Requirement

Public Notice No. 24/2015-2020 (07/08/2016)

Facility of clubbing is being allowed for Advance Authorisations for Annual Requirement issued during Foreign Trade Policy period 2009-14 and 2015-20 wherever exports and imports have taken place as per Standard Input output Norms (SION) notified (available in Handbook of Procedures)....

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Notification No. 20/2015-2020, Dated: 04.08.2016

Notification No. 20/2015-2020 (04/08/2016)

a. Imports under Advance Authorisation Scheme are exempted from Minimum Import Price (MIP) under this Notification; b. MIP conditions laid down in this Notification are valid for two more months with effect from 05/08/2016 or until further orders, whichever is earlier....

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Notification No. 19/2015-2020, dated: 04.08.2016

Notification No. 19/2015-2020 (04/08/2016)

The import of human biological samples by the Indian diagnostic laboratories/Indian Clinical Research Centres for lab analysis / R & D testing or export of these materials to foreign laboratories should be permitted by Customs authorities at the port of entry/exit without prior approvals (import licence / export permit) from any other Gov...

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VKGUY benefits on export of grapes including packing material

Trade Notice No. 13/2016 (04/08/2016)

It is, hereby, clarified that grapes packed in imported packing material do not fall under ineligible category mentioned under para 3.17.2(ii) of FTP and, therefore, exporter is entitled for VKGUY benefit on FOB value i.e. without deducting the cost of imported packing material. ...

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Amendment in conditions for export of Basmati Rice

Notification No. 18/2015-20 (01/08/2016)

(i) In addition to the EDI ports, export of Basmati Rice will now be permitted through Land Custom Stations (LCS) on Indo-Bangladesh and Indo-Nepal border also, subject to registration of quantity with DGFT. (ii) Export of Basmati Rice shall not be permitted on the basis of Documents against Acceptance (D/A) unless such export is covered ...

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Reconstitution of Board of Trade (BoT)

Trade Notice 12/2015-2020 (01/08/2016)

Attention is invited towards Trade Notice No 21/2015-2020 dated 23rd March, 2016 thereby Board of Trade has been re-constituted. In order to give appropriate representation to MSME sector, it has been decided to include the name of President, Laghu Udyog Bharti, New Delhi as Ex-officio member of BoT....

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Amendment in Import Policy Condition No. 3 of Chapter 12 of ITC (HS), 2012

Notification No. 17/2015-20 (29/07/2016)

The Department of Revenue has been delegated power to frame the detailed guidelines regarding registration of contracts with Narcotics Commissioner, Gwalior for import of poppy seeds....

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Import policy of Unmanned Aircraft System/ Aerial Vehicle /Remotely Piloted Aircraft /drones

Notification No. 16/2015-2020 (27/07/2016)

Import of Unmanbed Aircraft System (UAS)/Unmanned Aerial Vehicle (UAVs)/Remotely Piloted Aircraft (RPAs)/drones is `Restricted'; it would require prior clearance of Directorate General of Civil Aviation (DGCA) and import licence from DGFT....

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Relief in Average Export Obligation in terms of Para 5.19 of HBPs of FTP 2015-20

Policy Circular No. 01/2015-20 (26/07/2016)

Para 5.19 of the Hand Book of Procedures of FTP 2015-20 permits re-fixation of Annual Average Export Obligation, in case the export in any sector/ product group decline by more than 5%. This implies that the sector/product group that witnessed such decline in 2015-16 as compared to 2014-15, would be entitled for such relief....

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Latest DGFT / FTP News

Checkout all the latest news on DGFT and DGFT notifications at Taxguru.in. Read DGFT articles and DGFT news on our website which is updated regularly.

The DGFT (Directorate General of foreign Trade) is the agency under the Ministry of Commerce and Industry of the Government of India which governs the execution of policies related to import and export in the country. Till 1991 it was known as CCI&E (Chief Controller of Imports & Exports). It plays a very significant role in developing trading relations with several other nations and therefore assists in enhancing not just economic growth but also offers impetus required by the trade industry. To promote exports and imports, DGFT has established several of its regional offices throughout the country.

Some of the important functions of DGFT can be summed up as below:

  • DGFT is entrusted with the responsibility to implement several policies on trade, for instance, the Foreign Trade Policy.
  • Directorate General of Foreign Trade is the licensing authority for licensing the importers, exporters, and import and export business.
  • DGFT could restrict, prohibit and regulate imports and exports.
  • DGFT has a significant role in issuing Public Notices, Notifications, Circulars, etc.
  • DGFT grants ten digit Importer Exporter Code (IEC) that are the primary requirement for Importing and Exporting activities
  • DGFT launches several schemes time to time about trade benefits across the country.
  • DGFT has launched the ITC (HS CODE) Schedule-1 for import goods and Schedule-2 for Export goods.

At Taxguru, we bring you all the latest news on DGFT and DGFT notifications. Find out all the recent DGFT news here. We publish regular DGFT articles for our viewers at regular intervals. We keep updating our site regularly with all the latest and relevant DGFT news so that our viewers can stay informed with all the import-export related information at all times. Stay with us for more on latest DGFT news here at Taxguru.

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