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The Government of India, since 01.04.2015, has been providing an incentive of 2-20% of the export value to the exporters through the scheme of MEIS. MEIS in the form of Duty Credit Scrips was being provided through DGFT office. The scrip can be used to pay basic customs duties and are freely trans...
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EPCG authorisations have been taken in the past by several manufacturers and service providers to save on import duty, with an Export Obligation to be fulfilled over a period of time. However several manufacturers have not been aware of the requirements to submit the installation certificates as a...
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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...
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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...
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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...
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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 ...
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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...
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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...
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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 ...
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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...
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