Foreign trade controls govern free, restricted and prohibited imports and exports, authorisations, compliance, export obligations and trade documentation. Imports and exports are free unless classified as prohibited, restricted, or subject to exclusive State Trading Enterprise arrangements, and remain ... Summary
Foreign trade controls govern free, restricted and prohibited imports and exports, authorisations, compliance, export obligations and trade documentation.
Imports and exports are free unless classified as prohibited, restricted, or subject to exclusive State Trading Enterprise arrangements, and remain subject to domestic legal, technical, safety, environmental and quality requirements. Restricted trade requires an authorisation or prescribed permission. Importers and exporters generally require an IEC, must maintain it online, and must furnish mandatory Customs and commercial documentation. DGFT may impose trade restrictions, prescribe procedures, grant conditional relaxations, and take action for authorisation or export-obligation defaults, including Denied Entity List measures.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.