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This is a story about the elite IAS, ITS & IRS housed in the Udyog Bhawan & the North Block. I always thought that these officials would be able to think through the problem & formulate policy & procedures, which would be easy, transparent & easy to understand for the beneficiaries & easy to implement but alas that is not to be. ...
Read MoreCondition of Manufacturing for 100% EOU Units- The business has started to look at the market in a global sense for some years now and cross-border trade has become a routine business today. In such a scenario exporters of goods whether manufactured or traded, play a huge role in improving the economic status of this country owing to Fore...
Read MoreIn this second part, we deal with the legalities & the policy provisions regarding the clubbing & redemption. The latest policy provision made Vide Public Notice No. 32/2015-2020 dtd. 18.10.2017 reads as under:...
Read MoreThe law is not a rational code. The law is an ass & the bureaucracy is responsible for it. These are all well known but then even a beneficial Export Promotion Policy will be afflicted by it is very difficult to digest but then always trust the miraculous Indian bureaucracy for cracking a poor joke....
Read MoreThe business once expanded in the Indian Market needs to step into international market to churn out more financial benefits from the business. Today, thousands of businesses in every country wholly or partially depend on the export of goods to cater their financial needs and rewards. ...
Read MoreWhile restoring the benefits under the export promotion schemes of duty free imports under Advanced Authorization, Export Promotion Capital Goods and 100% Export Oriented Units and thus resolving the problem of blocked working capital for exporters following the roll out of GST, the FTP review has focused on increasing the incentives for ...
Read MoreGST RELATED REFORMS- GST has been launched w.e.f. 1.07.2017. It incorporates zero rating of exports. Taxes will not be exported. On the export of finished goods, there is an option of either obtaining refund of GST paid or getting exemption from payment of GST on submission of Letter of Undertaking/Bond....
Read MoreDGFT notifies Foreign Trade Procedures 2015-20 (w.e.f. 05.12.2017) which contains the following :- CHAPTER 1 INTRODUCTION & TRADE FACILITATION 1.01 Notification of Procedure In pursuance of the provisions of paragraph 1.03 of Foreign Trade Policy (FTP), the Director General of Foreign Trade (DGFT) hereby notifies the procedure to be f...
Read MoreThe Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has given its approval for removal of prohibition on export of all types of pulses to ensure that farmers have greater choice in marketing their produce and in getting better remuneration for their produce. The CCEA also empowered the Committee chai...
Read MoreIt 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...
Read MoreYum 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)....
Read MoreEastron 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 ...
Read MoreCommissioner 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...
Read MoreM/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...
Read MoreEurotex 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 ...
Read MoreNotification No. 3/2015-20 - (16/04/2018) - Import of radiation generating components under Exim codes 9022 12 00, 9022 14 10, 9022 14 20, 9022 30 00, 9022 90 10, 9022 90 20 and 9022 90 30 of Chapter 90 of ITC (HS), 2017, Schedule - I (Import Policy), hereinafter, will be subject to prior regulatory clearance from AERB...
Read MoreNotification No. 2/2015-20 - (16/04/2018) - Incorporation of new HS codes for laying down import policy for Kabuli Chana, Bengal gram and Others under Exim Code 0713 of Chapter 07 of ITC (HS), 2017, Schedule - I (Import Policy)....
Read MoreTrade Notice No. 02/2018-19-DGFT - (11/04/2018) - A facility has been created to check the current status of IEC application and status of IEC transmission to ICEGATE. The status query is based on PAN used in IEC application made to DGFT. ...
Read MoreNotification No. 01/2015-2020-DGFT - (06/04/2018) - All varieties of edible oils, except mustard oil, have been made 'free' for export without any quantitative ceilings, pack size etc., till further orders....
Read MoreTrade Notice No-1/2018-19-DGFT - (04/04/2018) - Attention of all RAs, Export Promotion Councils and Advance/EPCG authorisation holders is invited to EODC monitoring system (web site) developed by DGFT, which can be accessed at http://eodc.online. ...
Read MoreNotification No. 3/2015-20 - (16/04/2018) -
Notification No. 2/2015-20 - (16/04/2018) -
Trade Notice No. 02/2018-19-DGFT - (11/04/2018) -
Notification No. 01/2015-2020-DGFT - (06/04/2018) -
Trade Notice No-1/2018-19-DGFT - (04/04/2018) -
Policy Circular No. 05/2015-20-DGFT - (04/04/2018) -
Public Notice No. 54 /2018-JNCH - (31/03/2018) -
Public Notice No. 53/2018-JNCH - (30/03/2018) -
Public Notices No. 49/2018-JNCH - (26/03/2018) -
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:
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.
