| News
Two petitions have been filed in the Delhi and Mumbai high courts against a provision in the GST regime. The provision allows levying both the basic Customs duty and IGST on cost, insurance, and freight (CIF) value of goods brought into India, and also an IGST on ocean freight between two foreign pa...
| News
The Directorate General of Foreign Trade (DGFT) has issued notices to about 100 Indian units of multinationals, demanding refund of around Rs 5,000 crore that it said they wrongly claimed since 2003 under an export promotion scheme for services (SFIS).The demand ranges from Rs 25 crore to Rs 200...
| News
Moving along with the new GST System, DGFT now relax and eased the procedures for clubbing of advance authorisations issued under the periods of FTP Policy 2009-14 and 2015-20 and to facilitates the closure of EPCG Authorisation and older advance authorisation as One-time dispensations basis. As pe...
| News
DGFT had introduced some changes in the various chapters of Foreign Trade Policy (“FTP”) vide Trade Notice No. 11/2018 dated 30.06.2017 to align the same with GST post implementation. The chapter wise changes in the provisions of the FTP 2015-20  are as follows: General Provisions ...
| News
As per latest announcement by Ministry of Commerce, mid-term review of Foreign Trade Policy (FTP) 2015-18 is to be released by September 2017. Earlier in one of the meetings it was proposed that it should be announced simultaneously with the roll out of GST so that Exporter-importers can get a comp...
| News
June 30 would mark the last day for A.K. Bhalla as DGFT as he is set to embark upon his new journey as Power Secretary replacing retiring P.K. Pujari. IAS-1984 batch officer from Assam-Meghalaya cadre, Mr. Bhalla has been serving DGFT office for less than a year by now and is the 4th such officer to...
| News
One of the many important reforms which EU has taken in its GSP rule of origin is the REXsystem or “Registered Exporter System”. In 2011, all the GSP beneficiary countries were asked to provide status of their readiness to implement this system from 1.1.2017 in their respective nations, by July ...
| News
Senior IAS Officer Ajay Kumar Bhalla has been appointed as a New Director General of Foreign Trade in place of Mr. Anup Wadhawan. Being IAS Officer belongs to 1984 Batch of Assam-Meghalaya cadre, is presently additional secretary in the commerce industry. Another appointment of senior bureaucrat I...
| News
Last Thursday, July 21, 2016, DGFT brought in clarity over non-inclusion of central and state taxes such as: VAT, Service tax, Luxury Tax etc in the Net Foreign Exchange Earning (NFE) calculated for the purpose of availing SFIS/SEIS benefits under FTP.DGFT has also emphasized upon stricter compl...
| News
Trade Notice no. 10/2016 which came last Tuesday, on July 19th 2016, brought some sigh of relief for all the exporters who have made supplies to SEZ units before 01.04.2015 against payment in INR and wanted to discharge their Export Obligation of EPCG licenses through these exports. It was decided ...
error: Content is protected !!