Denomination of trade authorisations dictates currency and discharge rules for import and export obligations under the foreign trade procedure. Currency denomination and discharge rules require CIF/FOB values to be stated in rupees and freely convertible currency with specified currency treatment ... Summary
Denomination of trade authorisations dictates currency and discharge rules for import and export obligations under the foreign trade procedure.
Currency denomination and discharge rules require CIF/FOB values to be stated in rupees and freely convertible currency with specified currency treatment for Advance Authorisations and domestic/deemed exports; late applications and supplementary claims may be accepted subject to percentage cuts; importers/exporters must furnish information and maintain consumption registers; field offices act as Export Facilitation Centres with Counter Assistance for application handling; Regional Authorities must meet time-bound disposal schedules; shipment/dispatch dates are mode-specific documentary benchmarks; DGFT retains power to review and call for records.
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