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Removal of Denied Entity List (DEL)? a) If an Authorization holder violates any condition of such Authorization or fails to fulfill export obligation, or fails to deposit the requisite amount within the period specified in demand notice issued by Department of Revenue and /or DGFT, he shall be liable for action in accordance with FT [&hel...

IEC(Import Export Code) is a mandatory identification document for carrying out any import/export activity in the Country. A business cannot make any import/export supply until and unless IEC has been obtained except under expressly provided exemptions. Earlier after making an application for IEC, a separate identification number used to ...

How to Surrender an Import and Export Code? HOW TO SURRENDER AN IMPORT-EXPORT CODE LICENSE? In a rapidly changing world, the potential for export and import of services and goods has increased. No matter if you’re a partnership or a corporation it is possible of profiting from the sale of your top products abroad. The outbreak ha...

For IEC Code Registration, the  following documents are required: -Individual’s or Firm’s or Company’s copy of PAN Card. -Individual’s voter id or Aadhar card or passport copy. -Individuals or companies or firms cancel cheque copies of current bank accounts. -Copy of Rent Agreement or Electricity Bill Copy of the premise. -A self...

DGFT vide Trade Notice no. 38 dated 15th March, 2022 have asked exporters to provide following information to claim benefit under Interest Equalisation Scheme. 1. Export Order Value in INR and USD. 2. Tenure of Loan (In months) and Amount of Loan. 3. Amount of Interest Reimbursement Equalisation Claimed. 4. ITC (HS) Code and Product [&hel...

Learn about the recent amendment to the Income Tax Act and how it affects domestic companies. Discover the benefits of filing Form-10 IC before the due date....

IMPORTER-EXPORTER CODE In today’s era, every business wants to expand their market globally to sustain in prevailing market competition. In order to expand their business beyond the domestic market, such businesses need to obtain Importer-Exporter License which is to be issued by Director General of Foreign Trade (DGFT). Importer-Export...

With the globalisation of trade and business, we are seeing enormous growth in imports and exports in India. The Indian economy is one of the largest economies in the world and one of the fastest-growing ones too. Foreign trade in India is promoted and facilitated by the Directorate General of Foreign Trade (DGFT), under the […]...

Article explains Interplay between SEZ Act and GST Act in respect of DTA Procurements, Background about Service procurements eligible for IGST Exemption, Introduction of Online functionality of DTA service procurement Form (DSPF), Applicability of DSPF, Periodicity of DSPF, Key Feature of this DSPF Form, Approval of DSPF, Email Alerts on ...

Prevailing rate of RODTEP/ROSCTL is approximately 79%-80% of license value, it is a big cause of concern for exporters, as rate of MEIS before reopening of MEIS window was 96%-97%. This huge difference in price of RODTEP/ROSCTL is eroding profitability of exporters. Besides huge supply of MEIS / RODTEP/ ROSCTL, main reason for reduction i...