import policy

Custom Duty on alloy containing gold & platinum – All that Glitters is Not Gold

Custom Duty - The Customs Department have recently started obstructing all the imports of alloy containing gold and platinum across the country and have created a ruckus in the industry since these are sensitive items whose rates fluctuate on a daily basis....

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How to Set Up an Export Import Business Unit in India?

Custom Duty - 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 […]...

Read More

Basics of Import

Custom Duty -  Introduction: Export and Import trade is regulated by Directorate General of Foreign Trade (DGFT), it is a body functioning under the Ministry of Commerce and Industry, Department of Commerce, Government of India. DGFT is the regulator, promotor and facilitator of Import and Export. DGFT implements the policies and procedure from time t...

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Definitions of export, import, exporter & importer under different acts

Custom Duty - ♦ Definition of ‘Export’ & ‘Exporter”  Under Foreign Trade Policy Export- Is as defined in FT (D & R) Act, 1992, as amended from time to time.  Note: Definition of export under foreign trade policy is same as defined in FT (D & R) Act, 1992 which is given below. In other words definition of […]...

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India At Last Finding Some Ways to Regulate Imports- Curbs on Non-Essential Goods

Custom Duty - Imports are foreign goods and services that are produced in a foreign country and sold to domestic residents of a country. If a country Imports more than it Exports it runs a Trade Deficit. When a country has a trade deficit, it must borrow from other countries to pay for the extra imports. India is traditionally a Trade Deficit Count...

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Amendments in Public Procurement (Preference to Make in India) Order, 2017

Custom Duty - Government of India has amended the Public Procurement (Preference to Make in India) Order, 2017 on 16.09.2020, enabling nodal Ministries/ Departments to notify higher minimum local content requirement for Class-I & Class-II local suppliers which was earlier fixed at 50% and 20% respectively....

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Initiatives Under Ease of Doing Business at Chennai Port as on 07.09.2017

Custom Duty - At Chennai Port Trust manual form-13 has been dispensed. Both Terminals (CCTPL & CITPL) are issuing e-form 13 only. The CFS gate module in ICES system is not yet completed. Hence the processing & transfer of export related details from CFS to Terminal gates cannot be done electronically....

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Govt. launches EXIM Analytics Dashboard

Custom Duty - As part of the initiative of the Ministry of Commerce & Industry to provide easy access to the public on export and import trends of India the Minister of State for Commerce & Industry (I/C) Smt. Nirmala Sitharaman launched here today a dashboard on EXIM Analytics. This is a portal developed by the Directorate General of Commercial Int...

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SC Sustains Imposition of Restrictions on Import of Peas & Pulses

Union of India Vs Agricas LLP and Others etc. (Supreme Court of India) - Union of India Vs Agricas LLP and Others etc. (Supreme Court) In the instant case, the Writ Petition is filed by challenging the imposition of restrictions on import of Peas and pulses. As per petitioner, the notifications issued by the DGFT had the effect of modifying or amending the EXIM policy as...

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Import policy of mosquito killer racket revised to ‘Prohibited’

Notification No. No. 2/2015-2020 - (26/04/2021) - Import policy of mosquito killer racket under HS Codes 85167920 and 85167990 is revised from ‘Free’ to ‘Prohibited’ if C.I.F value is below Rs121/per racket vide Notification No. 2/2015-2020 Dated: 26th April, 2021. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENE...

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Import policy of fish body oil

Notification No. 08(RE-2010)/2009-2014 - (08/10/2010) - Existing policy (prior to this amendment) as available at page 79 of ITC(HS) Classifications of Export and Import Items is extracted below ...

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Import Policy of items under Code 7326 90 99

Notification No. 52/2009-2014 - (08/07/2010) - In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in Schedule –1 of the ITC(HS) Classifications of Export and Impor...

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DGFT notification on Import policy of Toys

Notification No. 27/2009-2014 - (27/01/2010) - NOTIFICATION NO. 27/2009-2014- A certificate that the toys being imported conform to the standards prescribed in ASTM F963 or standards prescribed in ISO 8124 (Parts I-III) or IS 9873 [Parts I-III] or standards prescribed in EN 71; ...

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Import policy of items under Exim Code “7208”

Notification No. 23/2009-2014 - (08/01/2010) - In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby amends Schedule – I (Imports) of the ITC (HS) Classifications of Export and Import Items as under:...

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Recent Posts in "import policy"

Custom Duty on alloy containing gold & platinum – All that Glitters is Not Gold

The Customs Department have recently started obstructing all the imports of alloy containing gold and platinum across the country and have created a ruckus in the industry since these are sensitive items whose rates fluctuate on a daily basis....

Read More

How to Set Up an Export Import Business Unit in India?

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 […]...

Read More
Posted Under: Custom Duty |

Import policy of mosquito killer racket revised to ‘Prohibited’

Notification No. No. 2/2015-2020 26/04/2021

Import policy of mosquito killer racket under HS Codes 85167920 and 85167990 is revised from ‘Free’ to ‘Prohibited’ if C.I.F value is below Rs121/per racket vide Notification No. 2/2015-2020 Dated: 26th April, 2021. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi, the Not...

Read More

Basics of Import

 Introduction: Export and Import trade is regulated by Directorate General of Foreign Trade (DGFT), it is a body functioning under the Ministry of Commerce and Industry, Department of Commerce, Government of India. DGFT is the regulator, promotor and facilitator of Import and Export. DGFT implements the policies and procedure from time t...

Read More
Posted Under: Custom Duty |

Amendments in Public Procurement (Preference to Make in India) Order, 2017

Government of India has amended the Public Procurement (Preference to Make in India) Order, 2017 on 16.09.2020, enabling nodal Ministries/ Departments to notify higher minimum local content requirement for Class-I & Class-II local suppliers which was earlier fixed at 50% and 20% respectively....

Read More
Posted Under: Custom Duty |

SC Sustains Imposition of Restrictions on Import of Peas & Pulses

Union of India Vs Agricas LLP and Others etc. (Supreme Court of India)

Union of India Vs Agricas LLP and Others etc. (Supreme Court) In the instant case, the Writ Petition is filed by challenging the imposition of restrictions on import of Peas and pulses. As per petitioner, the notifications issued by the DGFT had the effect of modifying or amending the EXIM policy as the specified items […]...

Read More

Definitions of export, import, exporter & importer under different acts

♦ Definition of ‘Export’ & ‘Exporter”  Under Foreign Trade Policy Export- Is as defined in FT (D & R) Act, 1992, as amended from time to time.  Note: Definition of export under foreign trade policy is same as defined in FT (D & R) Act, 1992 which is given below. In other words definition of […]...

Read More
Posted Under: Custom Duty |

India At Last Finding Some Ways to Regulate Imports- Curbs on Non-Essential Goods

Imports are foreign goods and services that are produced in a foreign country and sold to domestic residents of a country. If a country Imports more than it Exports it runs a Trade Deficit. When a country has a trade deficit, it must borrow from other countries to pay for the extra imports. India is traditionally a Trade Deficit Count...

Read More
Posted Under: Custom Duty |

Guidelines to importers of Tobacco and Tobacco Substitutes

How to import Tobacco and Tobacco Substitutes A basic idea about formalities and procedures to import Tobacco and Tobacco Substitutes from overseas countries are explained in this category ‘Import procedures’. These details are given to enlighten importers, a general tips to import goods from overseas countries applicable to almost al...

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Posted Under: Custom Duty |

Import Procedure

1. The initial step engaged in importing a product is to accumulate information about the nations and firms which send out the item required by the exporter. It can be accumulated from trade directories, trade organizations, and associations. The exporter readies a quotation otherwise called Performa Invoice and sends it to the importer. ...

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Posted Under: Custom Duty |

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