ministry of commerce

The existing policy of Government of India on the payment of royalties under Foreign Technology Collaboration provides for automatic approval for foreign technology transfers involving payment of lumpsum fee of US$ 2 million and payment of royalty of 5% on domestic sales and 8% on exports. In addition, where there is no technology transfer involved, royalty up to 2% for exports and 1% for domestic sales is allowed under automatic route on use of trademarks and brand name.. Full Article

The drawback rates prescribed in the said Schedule against tariff items 711301 and 711302 shall apply only to goods exported by airfreight, post parcel or authorised courier through the Custom Houses as specified in para 4A.12 of the Hand Book of Procedures (Vol. I), 2009-14 published vide Public Notice No.1/2009-14 dated 27 th August, 2009 of the Government of India in the Ministry of Commerce and Industry, after examination by the Customs Appraiser/Superintendent (Jewe.. Full Article

The FTP is primarily focused around export-import guidelines and various incentives available for export of goods and services outside India. In addition, it is also an important source of information for companies effecting deemed exports, i.e., supplies for specified projects / purposes in India (such as power projects, refineries, etc.) that are also eligible for various incentives available for physical exports. Full Article

Meetings of all Zonal Development Commissioners under the chairmanship of AS(SEZ) would be held after BOA meeting in the Department of Commerce to discuss and clarify policy matters which required further discussion. Therefore, if Zonal DCs need any clarifications on SEZ Policy issues, they may bring up such matters along with full details of the case in these meetings. Full Article

It has been noted that developers/co-developers have been seeking permission of the BoA for carrying out such authorized operations, which are already covered in the default list of authorized operations, the powers for which have already been delegated to the DC’s/UAC’s. This results in the waste of precious time of the BoA. Full Article

The Ministry of Commerce & Industry has issued an Instruction No. 41 - F.No.C.6/9/2009-SEZ- Dated November, 2009 to all Development Commissioners clarifying that Net Foreign Exchange Earning (NFE) for SEZ units is to be calculated in rupee terms only.In case a unit claims that the NFE is negative due to foreign exchange fluctuations, the Approval Committee may consider the same, on case to case basis, provided the NFE computations are certified by the Authorised Banker.. Full Article

It has directed them to create a “suitable mechanism” to hold periodic scrutiny against violation of Foreign Exchange Management Act (FEMA). The move comes after it was found that some foreign retail companies or joint ventures, which had permission to undertake only “cash & carry wholesale trading” were violating the rules. They were apparently selling directly for personal consumption, which is prohibited. It was also noticed that companies that were allowed to.. Full Article

Indian diplomatic posts worldwide are no longer accepting employment visa applications from individuals who are not nationals of the country where the post is located. Instead, these applicants are advised to file their applications at the post in their country of citizenship. Full Article