2 DGFT Articles, News, Notification and Circular

DGFT

Introduction of Paper Import Monitoring System (PIMS)

According to DGFT Notification No. 11/2015-20, issued May 25, 2022, imports of goods covered by Chapter 48 (totalling 201 tariff lines) of Schedule-I (Import Policy) of ITC (HS), 2022, are permitted but subject to mandatory registration under the Paper Import Monitoring System (PIMS). For the import of commodities covered by Annexure-A, t...

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DGFT: Why idiocy remains the hallmark functionally

As per the mandate of the Parliament, the DGFT is the facilitator & therefore the name change to Director General of Foreign Trade took place as early as 1993 but it appears that till date what is facilitation is not understood in the right perspective. To my mind name change has made no difference because […]...

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Exploring the Process of Obtaining/Modification/Surrender- Importer-Exporter Code (IEC) in India

It is mandatory for all importers and exporters in India to have an IEC number. This number can be obtained from the DGFT by submitting the required documents, such as the PAN card, GST No., and other documents. The IEC is valid for one year and needs to be renewed every year....

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Amendment In Import-Export Code (IEC) Provisions

1. The Central Government has made some amendments under Foreign Trade Policy, 2015-2020, under Chapter 1 and Chapter 2 of FTP, 2015-2020, through the Notification dated 12th February, 2021. 2. Following are the amendment under FTP, 2015-2020:- FTP Para no. Pre- Amendment Post Amendment 1.11 Issue of e-IEC (Electronic –Importer Exporter...

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Valuation of Stock Transfers under GST

Supply of goods or services or both between related persons or between distinct persons as specified in section 25, when made in the course or furtherance of business is to be treated as a supply even if made without consideration in terms of Para 2 of Schedule I. In terms of Section 25(4) “A person who […]...

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Year End Review 2022 for Department of Commerce, Ministry of Commerce & Industry

Ministry of Commerce & Industry Year End Review 2022 for Department of Commerce, Ministry of Commerce and Industry India’s merchandise registers a positive growth of 12.6% from April-October, 2021-22 to April-October, 2022-23 India’s Services export registers a positive growth of 31.43% from April-October, 2021-22 to April-October...

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Steps taken by centre to reduce import reliance

Government has taken several steps to reduce import reliance so as to curb the trade deficit. These include creating/enhancing of domestic capacity, incentivizing domestic manufacturing through Production Linked Incentive (PLI) schemes, phased manufacturing plans, timely use of trade remedy options, adoption of mandatory technical standar...

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RODTEP Benefit Extended to Chemicals, Pharma and Steel Sector

Commerce Ministry finally allowed RODTEP benefit to Chemical, Pharma and Steel Sector for the Exports transactions undertaken between 15 December 2022 to 30 September 2023 which was a long pending demand from the industry. The benefit is being expanded to these industry to boost exports will cost around 1000 Crore to the industry. The Sch...

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Centre allows International Trade Settlements in Indian Rupees

Centre allows International Trade Settlements in Indian Rupees for Export Promotion Schemes under the Foreign Trade Policy  Decision to facilitate and ease international trade transactions in Indian Rupees The Government of India has made suitable amendments in the Foreign Trade Policy and Handbook of Procedures to allow for Internationa...

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Foreign Trade Policy extended for six months i.e. upto 31st March, 2023

Validity of the existing Hand Book of Procedures, 2015-20 is extended upto 31st March, 2023 vide Public Notice No. 26/2015-2020 |Dated: 29th September, 2022. The government has received requests from Export Promotion Councils and leading exporters that we should continue with current Foreign Trade Policy (2015-20), which had been extende...

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DGFT: Why idiocy remains the hallmark functionally

As per the mandate of the Parliament, the DGFT is the facilitator & therefore the name change to Director General of Foreign Trade took place as early as 1993 but it appears that till date what is facilitation is not understood in the right perspective. To my mind name change has made no differe...

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MEIS Benefit cannot be denied for mere non- marking of ‘Y’ against reward column

Hindalco Industries Limited Vs Union of India & Ors (Delhi High Court) - Petitioner’s intended to take benefit of MEIS scheme. Thus, error of not marking ‘Y’ against reward column is clearly an inadvertent error....

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DGFT doesn’t have power to amend FTP policy

Polyhose India Private Limited Vs Additional Director General of Foreign Trade (Madras High Court) - Madras High Court held that DGFT has powers to only clarify the doubts raised as to the interpretation of Policy and doesnt have powers to amend the FTP policy. Accordingly, 100% EOU eligible for benefits of availing SHIS....

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Promissory Estoppel not applicable to a policy decision with respect to additional license which is an incentive: SC

Chowgule & Company Limited Vs Assistant Director General of Foreign Trade (Supreme Court of India) - Honble Supreme Court held that the doctrine of promissory estoppel shall not be applicable to a policy decision with respect to incentive, when it is well within the right of DGFT/appropriate authority/Union to come out with a new Exim Policy....

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Import of firearms duly permissible under the Arms Act

Syndicate Innovations International Limited Vs Office of The Commissioner of Customs Through Joint Secretary & Ors (Delhi High Court) - Delhi High Court held that import of firearms is not prohibited the Arms Act and also there is no restriction that import is permissible only if the parts cannot be manufactured locally. Accordingly, it was directed to release the goods so imported....

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Nutraceutical products included in jurisdiction of SHEFEXIL: DGFT

Public Notice No. 55/2015-2020-DGFT [F. No. 01/93/180/01/AM-16/PC-2(B)/E-2587] - (02/02/2023) - Nutraceutical products have been included in the jurisdiction of the Shellac & Forest Products Export Promotion Council (SHEFEXIL) in Appendix 2T of FTP 2015­2020. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan ...

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SION E-136 conditions amended to include supporting manufacturers for job work- DGFT

Public Notice No. 54/2015-2020-DGFT [F. No. 01/94/180/157/AM22/PC-4] - (31/01/2023) - Conditions of SION E-136 and para 4.05(iii) of Handbook of Procedures, 2015-20 is amended to include supporting manufacturers for job work vide Public Notice No. 54/2015-2020-DGFT dated 31st January, 2023. Government of India Ministry of Commerce and Industry Department of Commerce Directorate Gener...

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Amendment in import policy condition of Urea [Exim Code 31021000]

Notification No. 54/2015-2020 [S.O. 383(E).] - (24/01/2023) - Fertilizer Marketing Entities (FMEs), authorized by the Department of Fertilizers, have been allowed to file Bill of Entries at Indian ports for import of Urea (for agriculture purpose) on Government Account....

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Implementation of Paper Import Monitoring System (PIMS) – FAQs

Policy Circular No. 45/2015-20-DGFT - (23/01/2023) - In Paper, there are no small volume/high value goods on which Air-Cargo is justified. Therefore, registration under PIMS shall be mandatory regardless to mode of transportation....

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DGFT gives One-time relaxation from maintaining Average Export Obligation

Public Notice No. 53/2015-2020-DGFT [F. No. 01/36/218/52/AM-22/EPCG-Part 1] - (20/01/2023) - One-time relaxation from maintaining Average Export Obligation and option to avail extension in Export Obligation Period for specified EPCG authorizations is provided on account of COVID-19 pandemic, subject to fulfillment of conditions. This is in addition to EO extensions facility (upon payment of...

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Recent Posts in "DGFT"

Nutraceutical products included in jurisdiction of SHEFEXIL: DGFT

Public Notice No. 55/2015-2020-DGFT [F. No. 01/93/180/01/AM-16/PC-2(B)/E-2587] 02/02/2023

Nutraceutical products have been included in the jurisdiction of the Shellac & Forest Products Export Promotion Council (SHEFEXIL) in Appendix 2T of FTP 2015­2020. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan New Delhi Public Notice No. 55/2015-2020...

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SION E-136 conditions amended to include supporting manufacturers for job work- DGFT

Public Notice No. 54/2015-2020-DGFT [F. No. 01/94/180/157/AM22/PC-4] 31/01/2023

Conditions of SION E-136 and para 4.05(iii) of Handbook of Procedures, 2015-20 is amended to include supporting manufacturers for job work vide Public Notice No. 54/2015-2020-DGFT dated 31st January, 2023. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan New D...

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Introduction of Paper Import Monitoring System (PIMS)

According to DGFT Notification No. 11/2015-20, issued May 25, 2022, imports of goods covered by Chapter 48 (totalling 201 tariff lines) of Schedule-I (Import Policy) of ITC (HS), 2022, are permitted but subject to mandatory registration under the Paper Import Monitoring System (PIMS). For the import of commodities covered by Annexure-A, t...

Read More
Posted Under: DGFT |

DGFT: Why idiocy remains the hallmark functionally

As per the mandate of the Parliament, the DGFT is the facilitator & therefore the name change to Director General of Foreign Trade took place as early as 1993 but it appears that till date what is facilitation is not understood in the right perspective. To my mind name change has made no difference because […]...

Read More
Posted Under: DGFT | ,

Amendment in import policy condition of Urea [Exim Code 31021000]

Notification No. 54/2015-2020 [S.O. 383(E).] 24/01/2023

Fertilizer Marketing Entities (FMEs), authorized by the Department of Fertilizers, have been allowed to file Bill of Entries at Indian ports for import of Urea (for agriculture purpose) on Government Account....

Read More

Implementation of Paper Import Monitoring System (PIMS) – FAQs

Policy Circular No. 45/2015-20-DGFT 23/01/2023

In Paper, there are no small volume/high value goods on which Air-Cargo is justified. Therefore, registration under PIMS shall be mandatory regardless to mode of transportation....

Read More

EPCG Scheme Relaxed for Sectors Affected by COVID-19 Pandemic

The Indian government has announced a one-time relaxation from maintaining average export obligation and an option to extend the export obligation period for certain sectors under the Export Promotion Capital Goods (EPCG) Scheme. The sectors that are eligible for this relief are the Hotel, Healthcare, and Educational sectors. For the year...

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Posted Under: DGFT

Exploring the Process of Obtaining/Modification/Surrender- Importer-Exporter Code (IEC) in India

It is mandatory for all importers and exporters in India to have an IEC number. This number can be obtained from the DGFT by submitting the required documents, such as the PAN card, GST No., and other documents. The IEC is valid for one year and needs to be renewed every year....

Read More
Posted Under: DGFT |

DGFT gives One-time relaxation from maintaining Average Export Obligation

Public Notice No. 53/2015-2020-DGFT [F. No. 01/36/218/52/AM-22/EPCG-Part 1] 20/01/2023

One-time relaxation from maintaining Average Export Obligation and option to avail extension in Export Obligation Period for specified EPCG authorizations is provided on account of COVID-19 pandemic, subject to fulfillment of conditions. This is in addition to EO extensions facility (upon payment of the composition fees) already provided ...

Read More

Amendment In Import-Export Code (IEC) Provisions

1. The Central Government has made some amendments under Foreign Trade Policy, 2015-2020, under Chapter 1 and Chapter 2 of FTP, 2015-2020, through the Notification dated 12th February, 2021. 2. Following are the amendment under FTP, 2015-2020:- FTP Para no. Pre- Amendment Post Amendment 1.11 Issue of e-IEC (Electronic –Importer Exporter...

Read More
Posted Under: DGFT |

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.