Introduction: The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, Government of India, has issued Notification No. 60/2023-DGFT on 13th February, 2024. This notification holds significance as it pertains to the ‘Indian Trade Classification (Harmonised System) of Export Items, 2023’ under Chapter 01-39 of Schedule 2. Let’s delve into the details and implications of this notification.
Detailed Analysis:
1. Legal Authority: The notification is enacted under the powers conferred by Section 3 and Section 5 of the Foreign Trade (Development & Regulation) Act, 1992. It aligns with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023.
2. Scope: Chapter 01-39 of Schedule 2 encompasses the current export policy for specific items. The notification outlines the export policy along with any associated conditions that must be met.
3. Accessibility: The detailed export policy for Chapter 01-39 of Schedule 2 (ITC-HS) is made available on the DGFT Website (dgft.gov.in). Interested parties can refer to the section labeled ‘ITC (HS) based Export Policy (Chapter 01-39)’.
4. Immediate Enforcement: This notification is effective immediately upon issuance, signifying its urgency and relevance in the current trade scenario.
Conclusion: The issuance of Notification No. 60/2023-DGFT marks a crucial development in India’s foreign trade regulation. Industry stakeholders, exporters, and policymakers should carefully review the outlined export policy for Chapter 01-39 of Schedule 2 to ensure compliance. The prompt enforcement underscores the government’s commitment to effective trade governance. For a comprehensive understanding, interested parties are encouraged to refer to the official DGFT Website for the complete details of the ITC (HS) based Export Policy.
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Government of India
Ministry of Commerce & Industry
Department Of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan, New Delhi
Notification No. 60/2023-DGFT | Dated: 13th February, 2024
Subject: Notification of ‘Indian Trade Classification (Harmonised System) of Export Items, 2023’ [Chapter 01-39 of Schedule 2, Export Policy of ITC (HS), 2023].
S.O. 649(E): In exercise of the powers conferred by Section 3 read with Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023, the Central Government hereby notifies Chapter 01-39 of schedule 2 (Export Policy) of ‘Indian Trade Classification (Harmonised System) of Export Items. 2023’ [Chapter 01-39 of Schedule 2 (Export Policy) of ITC (HS). 2023] as enclosed in the Annexure to this Notification.
2. Chapter 01-39 of Schedule 2 of ITC (HS). 2023 contains current export policy of items indicated alongwith policy conditions to be fulfilled, if any. The same is available on the DGFT Website (dgft.gov.in) under heading captioned ‘ITC (HS) based Export Policy (Chapter 01-39)’.
3. This shall come into force with immediate effect.
Effect of This Notification: ITC (HS) based Export Policy for Chapter 01-39 of Schedule 2 is notified.
(Santosh Kumar Sarangi)
Director General of Foreign Trade
Ex- Officio Additional Secretary, Government of India
Email: dgftrcDnic.in
(Issued from F. No. 01/91/191/121/AM23/EC/E-35174)
