DGFT

Import Export code (IEC) application under GST regime

Introduction: This article discusses in detail about application for Import Export code(IEC) application under GST regime. Query: We applied for IEC in the month of July 2017 & paid the fee but we didn’t submitted documents. Before submitting document, a notification came saying that now PAN will be IEC. So do we still need to [...

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Import-Export Code: An Initial Step for every –Importer & Exporter in India

Every Person who is going to start a business of Import or Export in India is required to get his PAN based Import-Export Code (IEC) from Director General of Foreign Trade (DGFT), whether a person is willing to export his goods and services outside India or he is willing to import his goods or service from outside India....

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DGFT: Can manipulation be termed as Export Promotion

DGFT exists as on date & the DGFT is the policymaker & Customs simply an implementer. However, under the new GST regime, there seems that the authority of the DGFT is totally undermined as if that authority does not exist anymore. However, it appears that the DGFT in itself has brought upon them this situation....

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Revised ITC(HS) code 2017 for all export import related transactions

In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (as amended from time to time) read with paragraph 2.01 of the Foreign Trade Policy, 2015-2020, the Central Government hereby notifies Indian Trade Classification (Harmonised System) of Import Items, 2017...

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How to obtain Importer Exporter Code (IEC) Number

An application for grant of IEC number shall be made by Registered/Head Office of applicant and apply to nearest Regional Authority of DGFT...

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Govt to implement SC Judgment on Target Plus Scheme under FTP 2004-09

It held that the Notification No. 48/2005 dated February 20, 2006 (certain products were made ineligible) and Notification No. 8/2006 dated June 12, 2006 (rates were reduced to 5% from the earlier 5, 10 and 15%) related to the Target Plus Scheme (TPS) could not be applied retrospectively and they would be effective only from the date of t...

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Measures taken by govt to diversify & boost exports from India

The Government has taken various measures to diversify and boost exports from India, which includes; (i) Merchandise Exports from India Scheme (MEIS) was included under Foreign Trade Policy (FTP) 2015-20 w.e.f. April 1, 2015...

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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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Ease of Doing Business initiatives implemented by DGFT

DGFT briefly summarized the major initiatives relating to policy simplification, reducing cost of capital through interest subvention, document reduction, IT initiatives like online filing of applications, creation of trade portal and training and outreach activities....

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DGFT Launches online payment facility for application fees through Credit/ Debit Cards

Visa / Master Card Credit card transaction: 1.45% of payment amount per transaction. Visa / Master Card/Rupay Debit Card transactions: For transactions upto Rs.2000/- : 0.75% of payment amount per transaction. For transactions above Rs.2000/- : 1.00% of payment amount per transaction....

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Indian subsidiaries of foreign companies can claim SFIS benefit

Yum Restaurants (I) Pvt. Ltd Vs Union of India (Delhi High Court) - Recently, in case of YUM RESTAURANTS (I) PVT.LTD AND Anr. v. Union of India & Ors, Hon'ble Delhi High Court pronounced that there is no provision in the Foreign Trade Policy which debars an Indian subsidiary of a foreign holding company from availing the benefit of Serve From India Scheme(SFIS)....

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As per Import and Export Policy for the period 2009-2014 mport of second hand goods except capital goods is restricted and special import license is required

Eastron Enterprises Inc. Vs Commissioner of Customs (Delhi High Court) - Eastron Overseas Inc., Mataji Enterprises & M/s. Celestial Enterprises by bill of entries dated 12.12.2011, 14.12.2011 and 7.12.2011 had asked the Commissioner of Customs at ICD, Tughlakabad, New Delhi to permit and allow import into India of the Data Graphic Display Tubes, which have been imported ...

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DEPB – Whether aluminium grills can be termed as Extruded aluminium products, and if so, Whether assessee can take benefit of Item 7 of Code 61 – No, rules SC

Commissioner of Customs Vs. M/s. Caryaire Equipment India Pvt. Ltd. (Supreme Court of India) - The core issue that falls for our consideration and decision in this appeal is: whether aluminium grills can be termed as Extruded aluminium products? If the answer is in positive, the assessee would be covered by Item Serial No.7 of the Product Code 61 of the Duty Entitlement Passbook Scheme (for s...

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Licensing authorities have the power to amend the licence with retrospective effect- Bombay HC

M/s. Bhilwara Spinners Ltd. V/s. Union of India, Customs and Anr. (Bombay High Court) - The Bombay HC last week quashed the decision of the Customs, Excise, Service Tax Appellate Tribunal which held the Director General of Foreign Trade (DGFT), the licensing authority under the Foreign Trade (Development & Regulation) Act, did not have the powers to amend licences with retrospective ef...

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Bombay HC quashed DGFT policy circular which was contrary to the provisions of Foreign Trade (Development and Regulation) Act

Eurotex Industries & Exports vs Union Of India (Bombay High Court) - The Bombay high court last week quashed the office memorandum / press release dated November 11 and policy circular dated December 22 last year as they were not issued under the provisions of the Foreign Trade (Development and Regulation) Act, and, therefore, the restrictions contained in them were ...

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Addition of Krishnapatnam port for import of new vehicles

Notification No. 36/2015-2020 - (20/10/2017) - Krishnapatnam port is being added to the list of 14 existing ports/ICDs. thereby taking the total number of ports/ICDs to 15, for importing new vehicles....

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Amendment in policy for import / Export from North Korea

Notification No. 35/2015-2020 - (18/10/2017) - Amendment in Para 2.17 of the foreign trade policy 2015-2020 on imports and exports to Democratic People`s Republic of Korea (DPRK) in terms of UNSC resolutions concerning DPRK...

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Issue / Renewal of Nominated Agency Certificate for Four / Five Star Export House status holders

Notification No. 34/2015-2020 - (18/10/2017) - Henceforth no Nominated Agency Certificate shall be issued/ renewed for Four Star Export House and Five Star Export House status holders. Import of gold by Four Star and Five Star Houses with existing Nominated Agency Certificate is subjected to Actual user condition and are permitted to import gol...

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FTP: Clubbing of Advance Authorisations, extension of Export Obligation period

Public Notice No. 32/2015-2020 - (18/10/2017) - Amendments are made in Chapter-4 of Hand Book of Procedures 2015-2020, related to clubbing of Advance Authorisations, extension of Export Obligation period and regularisation of bonafide default in the cases where an Authorisation was issued for import of drugs from unregistered sources with pre imp...

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Power of Regional Authorities of DGFT to issue/renew Nominated Agency Certificates removed

Public Notice No. 31/2015-2020 - (18/10/2017) - Public Notice No. 31/2015-2020 Power of Regional Authorities of DGFT to issue/renew Nominated Agency Certificates has been removed....

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Recent Posts in "DGFT"

Addition of Krishnapatnam port for import of new vehicles

Notification No. 36/2015-2020 (20/10/2017)

Krishnapatnam port is being added to the list of 14 existing ports/ICDs. thereby taking the total number of ports/ICDs to 15, for importing new vehicles....

Read More

Amendment in policy for import / Export from North Korea

Notification No. 35/2015-2020 (18/10/2017)

Amendment in Para 2.17 of the foreign trade policy 2015-2020 on imports and exports to Democratic People`s Republic of Korea (DPRK) in terms of UNSC resolutions concerning DPRK...

Read More

Issue / Renewal of Nominated Agency Certificate for Four / Five Star Export House status holders

Notification No. 34/2015-2020 (18/10/2017)

Henceforth no Nominated Agency Certificate shall be issued/ renewed for Four Star Export House and Five Star Export House status holders. Import of gold by Four Star and Five Star Houses with existing Nominated Agency Certificate is subjected to Actual user condition and are permitted to import gold as input only for the purpose of manuf...

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FTP: Clubbing of Advance Authorisations, extension of Export Obligation period

Public Notice No. 32/2015-2020 (18/10/2017)

Amendments are made in Chapter-4 of Hand Book of Procedures 2015-2020, related to clubbing of Advance Authorisations, extension of Export Obligation period and regularisation of bonafide default in the cases where an Authorisation was issued for import of drugs from unregistered sources with pre import condition....

Read More

Power of Regional Authorities of DGFT to issue/renew Nominated Agency Certificates removed

Public Notice No. 31/2015-2020 (18/10/2017)

Public Notice No. 31/2015-2020 Power of Regional Authorities of DGFT to issue/renew Nominated Agency Certificates has been removed....

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Reg. Import of Flat-rolled products of stainless steel under Advance Authorisation

Public Notice No. 30/2015-2020 (18/10/2017)

Import of Flat-rolled products of stainless steel covered under ITC(HS) Codes: 7219 or 7220 under Advance Authorisation is subjected to pre-import condition with 6 months Export Obligation Period from the date of clearance of each import consignment by Customs Authority....

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Clarification: Legislative changes relating to Customs Act, 1962 proposed in Finance Bill, 2017

Standing Order No. 33/2017- Custom Duty (09/10/2017)

Attention of all officers working in import appraising groups of NS-I, II, III, IV and V is invited to the Standing Order No. 17/2017, dated 03.07.2017 on the above mentioned subject. ...

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Refund SMS Seva for refund claims filed at JNCH, Nhava Sheva

Public Notice No.. 133/2017- JNCH (17/10/2017)

it is essential that refund claim should also include the mobile number and email id of the claimant/ authorized person so that they will be intimated the status of their refund claim. Hence, it is requested that mobile number and functional email id should be submitted along with refund claims....

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Amendments in Foreign Trade Policy 2015-20 -reg

Notification No. 33/2015-2020, DGFT (13/10/2017)

Various provisions of Foreign Trade Policy 2015-20 is amended to enable certain additional duties/taxes/cess exemptions for Advance authorisations, EPCG Authorisations and units under E / EHTP / STP/ BTP Scheme....

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Amendment to Customs Valuation Rules- Notification No. 91/2017 (NT)

Public Notice No. 132/2017-JNCH (12/10/2017)

Place of Importation” means the customs station where the goods are brought for being cleared for home consumption or for being removed for deposit in a warehouse...

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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.