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Public Notifications / Decisions Issued by DGFT for the Month of June 2011

Notification No. 50 (03/06/2011)

Export of organic edible oil duly certified by APEDA with a ceiling of 10,000 MTs per annum has been exempted from the prohibition imposed on export of edible oils (which is up to 30.9.2011). Notification No. 51 dated 3.6.2011 - Export of organic pulses and lentils duly certified with APEDA with an annual ceiling of 10,000 MTs per annum h...

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Govt extends duty-free sugar import deadline till August 31

The government today extended duty-free import of sugar for two months till August-end amid inflationary pressure. The zero-duty sugar import deadline, which expired on June 30, has been extended till August 31, this year, a notification issued by the Finance Ministry said. The government had abolished import duty on sugar in February 200...

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Gov invites stakeholders' view to revise the deemed export policy

The government has invited views of the stakeholders to revise the deemed export policy, aimed to avert the misuse of the scheme. Deemed exports refer to those transactions in which goods supplied to the users do not leave the country and payment for such supplies is received in any currency. Stakeholders' comments would be accepted til...

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DGFT – Cotton exporters to face penal action if fail to ship in time

Cotton exporters, who fail to ship the quantity allocated to them within the stipulatedperiod, will be debarred from future allocations, according to tough norms of the commerce ministry. The Directorate General of Foreign Trade (DGFT) has said it would also initiate penal action against the defaulting exporters. ...

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16 FDI Proposals Worth Rs. 923.55 Crore Approved

The government on Tuesday said it has cleared 16 foreign direct investment (FDI) proposals amounting to Rs 923.55 crore, including those of Star News Broadcasting Ltd and L&T Finance Holdings. A total of 38 FDI proposals were taken up by the Foreign Investment Promotion Board (FIPB), but the board deferred a decision on 14 applications, r...

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Govt tightens Deemed Export benefit scheme, to save Rs 1800 cr

After detecting several cases of misuse of incentives, the Commerce Ministry has tightened the norms governing the Deemed Export benefit scheme, a move expected to save about Rs 1,800 crore to the exchequer annually. The Deemed exports refer to those transactions in which goods supplied to the users do not leave the country and payment fo...

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Government yet to take a Decision Regarding FDI in Multi –Brand Retail Trading

It has been stated in Para 31 of the Budget Speech 2011-12 that to make the FDI policy more user-friendly, all prior regulations and guidelines have been consolidated into one comprehensive document, which is reviewed every six months. The last review has been released in September 2010. This has been done with the specific intent of enha...

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Electronic payment of tax refund for deemed exports

Tax refund benefits relating to domestic transactions, considered as deemed exports, will now be processed electronically, the government said today.The Directorate General of Foreign Trade (DGFT), under the Commerce Ministry, has asked its regional authorities to disburse Deemed Export Drawback claims as well as terminal excise duty onli...

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Govt bans export of milk powder, casein

The government today banned exports of milk powder and its products to boost domestic supplies and check rising prices of milk. Besides, export of casein and its products, a protein derivative of milk, has also been banned by the Commerce Ministry....

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Govt to decide on lifting export ban on wheat, onion

(14/02/2011)

The government is likely to take a decision in the next few days on the proposal to lift ban on exports of onion and wheat in view of their bumper production. The empowered group of ministers (EGoM) on food, headed by Finance Minister Paranab Mukherj...

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