TaxTMI 
TaxTMI 
GENERAL PROVISIONS REGARDING IMPORTS AND EXPORTS
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....d material to Government of Iraq shall be permitted subject to 'No Objection Certificate' from the Department of Defence Production] 2.1.2 ^3[ Prohibition on Direct or Indirect Import and Export from /to Democratic People's Republic of Korea Direct or indirect export and import of following items, whether or not originating in Democratic People's Republic of Korea (DPRK), to / from, DPRK is 'Prohibited': i. All items, materials, equipment, goods and technology including as set out in lists in documents INFCIRC/254/Rev.11/Part 1 and INFCIRC/254/ Rev.8/Part 2 (IAEA documents), S/2012/947, S/2009/364 and S/2006/853 (UN Security Council documents) and Annex III to UN Security Council resolution 2094 (2013) which could contribute to DPRK's nuclear-related, ballistic missile-related or other weapons of mass destruction-related programmes; ii. Luxury goods, including but not limited to the items specified in Annex IV to UN Security Council resolution 2094 (2013).] 2.1.3 Prohibition on Direct or Indirect Import and Export from / to Iran (a) Direct or indirect export and import of all items, materials, equipment, goods and technology which....
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....uch conditions as he may deem fit. Such request may be considered only after consulting committees as under: Sl. No. Description Committee (a) Fixation / modification of product norms under all schemes Norms Committee (b) Nexus with Capital Goods (CG) and benefits under EPCG Schemes EPCG Committee. (c) All other issues Policy Relaxation Committee (PRC) 2.6 Principles of Restriction DGFT may, through a notification, adopt and enforce any measure necessary for: - (a) Protection of public morals; (b) Protection of human, animal or plant life or health; (c) Protection of patents, trademarks and copyrights, and the prevention of deceptive practices; (d) Prevention of use of prison labour; (e) Protection of national treasures of artistic, historic or archaeological value; (f) Conservation of exhaustible natural resources; (g) Protection of trade of fissionable material or material from which they are derived; (h) Prevention of traffic in arms, ammunition and implements of war. 2.7 Export / Import of Restricted Goods/ Services Any goods / service, the export or import of which is 'Restricted' may be....
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....ic ties with neighbouring countries. 2.14 Transit Facility Transit of goods through India from / or to countries adjacent to India shall be regulated in accordance with bilateral treaties between India and those countries and will be subject to such restrictions as may be specified by DGFT in accordance with International Conventions. 2.15 Trade with Russia under Debt-Repayment Agreement In case of trade with Russia under Debt Repayment Agreement, DGFT may issue instructions or frame schemes as may be required, and anything contained in FTP, in so far as it is inconsistent with such instructions or schemes, shall not apply. 2.16 Actual User Condition Goods which are importable freely without any 'Restriction' may be imported by any person. However, if such imports require an Authorisation, actual user alone may import such good(s) unless actual user condition is specifically dispensed with by DGFT. 2.17 ^1[Sl. No. Categories of Second Hand Goods Import Policy Conditions, if any I Second Hand Capital Goods (a) i. Personal computers/ laptops including their refurbished / re-conditioned spares ii. Photocopier ma....
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....ty improvement or upgradation or standardization of technology and re-imported without an Authorisation. 2.23 Import of goods used in projects abroad Project contractors after completion of projects abroad, may import without an Authorisation, goods including capital goods used in the project, provided they have been used for at least one year. 2.24 Sale on High Seas Sale of goods on high seas for import into India may be made subject to FTP or any other law in force. 2.25 Import under Lease Financing No specific permission of RA is required for lease financed capital goods. 2.26 Clearance of Goods from Customs Good already imported / shipped / arrived, in advance, but not cleared from Customs may also be cleared against an Authorisation issued subsequently. 2.27 Execution of BG /LUT (a) Wherever any duty free import is allowed or where otherwise specifically stated, importer shall execute prescribed LUT/BG/Bond with Customs Authority before clearance of goods. (b) In case of indigenous sourcing, Authorisation holder shall furnish LUT/BG/Bond to RA concerned before sourcing material from indigenous supplier/nominated agency as prescri....
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....stricted under ITC (HS)) may be exported along with main equipment or subsequently but within contracted warranty period of such goods subject to approval of RBI. 2.34 Third Party Exports Third party exports, as defined in Chapter 9 shall be allowed under FTP. 2.35 Export of Imported Goods (a) Goods imported, in accordance with FTP, may be exported in same or substantially the same form without an Authorisation provided that item to be imported or exported is not restricted for import or export in ITC (HS). (b) ^8[(i) Exports of such goods imported against payment in freely convertible currency would be permitted against payment in freely convertible currency except to countries as notified by DGFT from time to time. Export of such goods would be permitted against payment in Indian Rupees to the notified countries subject to at least 15% value addition. (ii) Accordingly, exports of such goods to Iran which have been imported against payment in freely convertible currency would be permitted against payment in Indian Rupees also, subject to at least 15% value addition. Further, re-export of food, medicine and medical equipment's will not be subject to minimum ....
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....e goods from domestic manufacturers without payment of duty. Supplies made by a domestic supplier to such notified warehouses shall be treated as physical exports provided payments are made in free foreign exchange. 2.40 Denomination of Export Contracts (a) All export contracts and invoices shall be denominated either in freely convertible currency or Indian rupees but export proceeds shall be realized in freely convertible currency. (b) However, export proceeds against specific exports may also be realized in rupees, provided it is through a freely convertible Vostro account of a non resident bank situated in any country other than a member country of ACU or Nepal or Bhutan. Additionally, rupee payment through Vostro account must be against payment in free foreign currency by buyer in his non-resident bank account. Free foreign exchange remitted by buyer to his non-resident bank (after deducting the bank service charges) on account of this transaction would be taken as export realization under export promotion schemes of FTP. (c) Contracts (for which payments are received through Asian Clearing Union (ACU) shall be denominated in ACU Dollar. Central Government may r....
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....ade partners i.e. Customs, Banks and Export Promotion Councils. These documents are no longer required to be physically filed with DGFT or transmitted physically to the concerned partners. Therefore, it has reduced the transaction cost for the exporters. It is the endeavour of DGFT to enlarge the scope and domain of EDI exchange continuously. 2.45.1 DGCI &S Commercial Trade Data DGCI&S has put in place a Data Suppression Policy. Transaction level data would not be made publically available to protect privacy. DGCI&S trade data shall be made available at aggregate level with a minimum possible time lag in a query based structured format on commercial criteria. 2.45.2 Fiscal Incentives to promote EDI Initiatives adoption To encourage usage of 'on-line' filing of applications for authorizations/IEC, incentives are provided to applicants through a reduced application fee as detailed in the Hand Book of Procedures. 2.46 Regularization of EO default and settlement of customs duty and interest through Settlement Commission With a view to providing assistance to firms who have defaulted under FTP for reasons beyond their control as also facilitating merger, acqui....
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....ed: i. If an importer/exporter is aggrieved by any decision taken by Policy Relaxation Committee (PRC), or a decision/order by any authority in the Directorate General of Foreign Trade, and ii. a request for review before the said Committee or Authority has been filed, iii. such Committee or Authority has considered the request for a review, and iv. the exporter/ importer continues to be aggrieved. c) The decision conveyed in pursuance to the personal hearing shall be final and binding. d) The opportunity for Personal Hearing will not apply to a decision/order made in any proceeding, including an adjudication proceeding, whether at the original stage or at the appellate stage, under the relevant provisions of F.T. (D&R) Act, 1992, as amended from time to time ] 2.50 Export of perishable agricultural products To reduce transaction and handling costs, a single window system to facilitate export of perishable agricultural produce has been introduced. The system will involve creation of multi-functional nodal agencies to be accredited by Agricultural and Processed Food Products Export Development Authority (APEDA), New Delhi. The detailed procedures have been....
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.... multifunction Print & Copying Machines (iii) Air conditioners (iv) Diesel generating sets Restricted Allowed to be imported only as per provisions of FTP, ITC (HS), HBP v1, Public Notice or an Authorisation issued for import of the specified second hand item. (b) Free Category: (i) Refurbished / re-conditioned spares of Capital Goods Free Subject to conditions specified in para 2.33 of HBPv1 (ii) All other second hand capital goods Free II. All other Second Hand Goods Restricted " 2. Substituted vide Notification No 08 (RE-2013)/2009-2014 dated: 22^nd April, 2013, before it was read as, "Grievance Redressal Committee (GRC) (a) In order to facilitate speedy redressal of grievances of trade and industry, a new grievance redressal mechanism has been put in place in the form of GRC by a Government Resolution. (c) The Government is committed to resolving all outstanding problems and disputes pertaining to past policy periods through GRC set up on 27.10.2004, for condoning delays, regularizing breaches by exporters in bona fide cases, resolving disputes over entitlements, granting extensions for utilizati....