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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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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...
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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 ...
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The Appointments Committee of the Cabinet (ACC) has appointed New Additional Director General of Foreign Trade at Mumbai and New Delhi. Ms. Sonia Sethi, IAS (MH:1994), Joint Secretary, Ministry of Culture has been appointed as Additional Director General of Foreign Trade (Addl. DGFT), Mumbai, Direc...
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Keeping in view of improving the business environment in the country, DGFT simplifies the Procedure for filing Application under Merchandise Export Incentive Scheme (MEIS) Scheme for EDI Shipping Bills. DGFT vide its Public Notice No.13/2015-20 dated 27.05.2016 supersede the requirement of filing s...
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DGFT vide its Public Notice No.06/2015-2020 dated 04.05.2016 added markets in 2787 lines with immediate effect. Presently MEIS Scheme covers 5012 lines out of which 2787 required submission of Landing Certificate as reward was not available for all markets. Adding of markets vide this public notice...
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Status holder certification is now back on the basis of current + past 3 years. This was earlier modified to current + past 2 years in the current FTP 2015-20 which rendered a lot of exporters without the status. Exporter groups had represented this to the Government and the govt has accordingly res...