DGFT

Summary of Foreign Trade Policy Statement 2017- Mid-Term Review

The Foreign Trade Policy Statement explains the vision, goals and objectives underpinning the Foreign Trade Policy for the period 2015-2020, as updated through the mid-term review completed in December 2017. Keeping in the backdrop the global trade developments, it describes the market and product strategy, and the other measures required...

Read More

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 [...

Read More

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....

Read More

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....

Read More

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...

Read More

Govt increases MEIS Rate by 2% for labour intensive MSME sectors

While 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 More

Highlights of Foreign Trade Policy 2015-2020- Mid Term Review (December 2017)

GST 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 More

Foreign Trade Procedures 2015-20 (w.e.f. 05.12.2017)

DGFT 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 More

Cabinet allows export of all varieties of pulses

The 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 More

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...

Read More

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)....

Read More

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 ...

Read More

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...

Read More

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...

Read More

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 ...

Read More

Application for grant of import authorization without fees

Trade Notice No. 22 - (11/12/2017) - It has come to the notice of this Directorate that importers who apply for authorization for import of restricted items are submitting their applications at the concerned Regional Authority of DGFT without paying the application fee at the time of submission of application....

Read More

Amendment in SION A-343 and A-3488 under Chemical & Allied Product Group

Public Notice No. 48/2015-2020-DGFT - (11/12/2017) - The above modification/revision of SIONs would be effect from date of issue of Public Notice. Standard Input Output Norms (SIONs) A-343 and A-3488 for export product falling under the Chemicals and Allied Products Group has been amended....

Read More

Govt. Imposes Minimum Import Price of Rs 500 per KG on pepper

Notification No. 42/2015-2020 - (06/12/2017) - Import of pepper classified under EXIM Code 090411 and 0904 1200 is subject to Minimum Import Price (MIP) of Rs 500 on CIF basis per kg....

Read More

Computation of Annual Average Export Obligation and Limit on Import of Capital Goods under EPCG Scheme

Public Notice No. 47/2015-2020-DGFT - (06/12/2017) - DGFT hereby notifies new Appendices 5 E (Computation of Annual Average Export Obligation under EPCG Scheme) and 5 F (List of Capital Goods not permitted/ permitted subject to specific conditions for import under EPCG Scheme) of FTP 2015-20, as contained in Annexure to this Public Notice....

Read More

Services Exports from India Scheme (SEIS)- Ground Handling Services

Public Notice No. 46/2015-2020-DGFT - (05/12/2017) - List of services where payment has been received in Indian Rupees which can be treated as receipt in Deemed Foreign Exchange as per guidelines of Reserve Bank of India in terms of Para 3.08(c) of FTP 2015-20 has been expanded to include Ground Handling Services....

Read More

Browse All Categories

CA, CS, CMA (3,535)
Company Law (3,486)
Custom Duty (6,694)
DGFT (3,524)
Excise Duty (4,056)
Fema / RBI (3,304)
Finance (3,518)
Income Tax (25,514)
SEBI (2,764)
Service Tax (3,289)

Recent Posts in "DGFT"

Application for grant of import authorization without fees

Trade Notice No. 22 (11/12/2017)

It has come to the notice of this Directorate that importers who apply for authorization for import of restricted items are submitting their applications at the concerned Regional Authority of DGFT without paying the application fee at the time of submission of application....

Read More

Amendment in SION A-343 and A-3488 under Chemical & Allied Product Group

Public Notice No. 48/2015-2020-DGFT (11/12/2017)

The above modification/revision of SIONs would be effect from date of issue of Public Notice. Standard Input Output Norms (SIONs) A-343 and A-3488 for export product falling under the Chemicals and Allied Products Group has been amended....

Read More

Govt increases MEIS Rate by 2% for labour intensive MSME sectors

While 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 More
Posted Under: DGFT |

Govt. Imposes Minimum Import Price of Rs 500 per KG on pepper

Notification No. 42/2015-2020 (06/12/2017)

Import of pepper classified under EXIM Code 090411 and 0904 1200 is subject to Minimum Import Price (MIP) of Rs 500 on CIF basis per kg....

Read More

Computation of Annual Average Export Obligation and Limit on Import of Capital Goods under EPCG Scheme

Public Notice No. 47/2015-2020-DGFT (06/12/2017)

DGFT hereby notifies new Appendices 5 E (Computation of Annual Average Export Obligation under EPCG Scheme) and 5 F (List of Capital Goods not permitted/ permitted subject to specific conditions for import under EPCG Scheme) of FTP 2015-20, as contained in Annexure to this Public Notice....

Read More

Services Exports from India Scheme (SEIS)- Ground Handling Services

Public Notice No. 46/2015-2020-DGFT (05/12/2017)

List of services where payment has been received in Indian Rupees which can be treated as receipt in Deemed Foreign Exchange as per guidelines of Reserve Bank of India in terms of Para 3.08(c) of FTP 2015-20 has been expanded to include Ground Handling Services....

Read More

SEIS Eligible period extended upto 31.03.2018 with amendments

Public Notice- 45/2015-2020 (05/12/2017)

The services export rendered between 1-4-2017 to 31-03-2018 as per the Annexure, comprising rates and conditions for rewards under the Services Exports from India Scheme (SEIS) is extended upto 31.03.2018 with rates of reward as specified in the Annexure....

Read More

MEIS rate for exports w.e.f 01.11.2017 to 30.06.2018 and List of ineligible categories for MEIS benefits

Public Notice No. 44/2015-2020 (05/12/2017)

Amendments have been made in the rates of reward for certain Sl.Nos of Table 2 of Appendix 3B of FTP 2015-20 for exports made w.e.f 01.11.2017 to 30.06.2018 and Table 3 specifying List of Ineligible categories for Duty Credit Scrip entitlement under MEIS....

Read More

Highlights of Foreign Trade Policy 2015-2020- Mid Term Review (December 2017)

GST 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 More
Posted Under: DGFT |

DGFT notifies Revised Handbook of Procedures of Foreign Trade Policy, 2015-2020

Public Notice No. 43/2015-2020 (05/12/2017)

Director General of Foreign Trade hereby notifies the revised edition of Handbook of Procedures, as contained in Annexure to this Public Notice. This shall come into force with effect from 5th December, 2017....

Read More
Page 1 of 35312345...102030...Last »

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.