EOU, EHTP, STP & SCHEME 1. EOU, EHTP, STP & SCHEME units are setup for their export of entire production of goods and services (except permissible sale in DTA) 2. They can import input & capital goods without payment of customs duty. 3. STP, EHTP, BTP scheme are similar to EOU schemes and provisions are […]
EXPORT PROMOTION SCHEME EXEMPTION SCHEMES Duty exemption scheme Advance Authorisation Scheme Duty free import authorisation scheme (DFIA) Duty Remission Scheme Duty Drawback Scheme (DBK) Sec. 75 customs Duty Remission Scheme under Central Excise law not applicable REWARD SCHEMES 1. Merchandise Export from India Scheme (MEIS) 2. Service Export from India Scheme (SEIS) ADVANCED AUTHORISATION SCHEME […]
LEGISLATION ♣ Foreign Trade is regulated by ministry of commerce and industry. ♣ Director General of Foreign Trade handles full administration (DGFT). ♣ FTP is 5 years policy prepared under Foreign Trade Development & Regulation (D &R) Act 1992. ♣ Ministry and DGFT administered the FTP in formulation, control and supervisory. In administration of FTP […]
Introduction: Export and Import trade is regulated by Directorate General of Foreign Trade (DGFT), it is a body functioning under the Ministry of Commerce and Industry, Department of Commerce, Government of India. DGFT is the regulator, promotor and facilitator of Import and Export. DGFT implements the policies and procedure from time to time for Export […]
Opening, holding and maintaining of foreign currency account regulated in terms of Section 9 of Foreign Exchange Regulation Act (FEMA) read with Foreign Exchange Management (Foreign Currency account by a Person Resident in India) Regulation, 2015. Resident are permitted to maintain foreign currency account in or outside India as per the provisions contained (Foreign Currency […]
Payment in foreign exchange by an authorised dealer shall be: ♦ Either by debit to Asian Clearing union dollar account in India; or ♦ Payment in freely convertible currency as specified in regulation 5 of Foreign Exchange Management (Manner of Receipt and Payment) Regulation, 2016 Import Payments through International Cards: Payments for import can be […]
If authorized dealer receives any foreign payment by way of either remittance or by reimbursement or any other payment shall be in the manner as stated below: Member of Asian Clearing Union (ACU): In case of Bangladesh, Myanmar, Pakistan, Sri-Lanka and Maldives: Payment should be made by credit to ACU Dollar account and ACU Euro […]
