January 01, 2020

FIEO Clarification Regarding Continuity of MEIS up to 31-March-2010

Responding to some of the reports in the media regarding discontinuation of MEIS benefits with effect from 1st January 2020, Shri Sharad Kumar Saraf, President, FIEO said that these reports are not factually correct and possibly refer to withdrawal of additional MEIS benefits of 2% on certain exports products for which advance information of their withdrawal was given by DGFT by the Public Notice No.47 dated 7.12.2019.

FIEO clarified that MEIS continues till 31st March 2020 as per the FTP 2015-2020, which is valid till 31st March 2020. However, the additional MEIS of 2% given on some products was only for shipment with Let Export Order date up to 31.12.2019. However, such products will continue to be entitled to normal MEIS benefits as applicable to them prior to the PNs as detailed in Public Notice No.47 dated 7.12.2019 up to 31st March 2020.

President FIEO said that he has been given to understand that the issue of MEIS benefits on specified products of Apparel and Made-ups (Chapter 61, 62 and 63) is likely to be resolved soon and thereafter exporters of such products would be eligible for MEIS benefits till 31.12.2019 along with RoSCTL benefits. A decision on MEIS benefits for apparel & made-ups for shipment with Let Export Order date on or after 1st January 2020 is likely to be notified shortly.

December 26, 2019

Export of SCOMET Items for Demo/Display/Exhibition/Tenders/RFP/RFQ/NIP Purposes

DGFT has amended the Para 2.79 D in the Handbook of Procedures of the Foreign Trade Policy 2015-20, as notified vide Public Notice No 34/2015-20 dated 04.09.2018,  to notify the procedure for export of SCOMET Items for Demo/Display/Exhibition/Tenders/RFP/RFQ/NIP Purposes. 

December 11, 2019

Import of Goods as Gifts

The DGFT has amended Para 2.25 of FTP 2015-20 vide Notification No. 35/2105-20 dated 12-Dec-2019 that import of goods, including those purchased from e-commerce portals, through post or courier, where Customs clearance is sought as gifts, is prohibited except for life saving drugs/ medicines and Rakhi (but not gifts related to Rakhi). For Rakhi (but not gifts related to Rakhi)... no duty shall be collected if the amount of duty leviable is equal to or less than Rs. 100/-. Import of goods as gifts with payment of full applicable duties are allowed.

December 06, 2019

Change in MEIS Rate w.e.f 1st Jan 2020

The additional MEIS of 2% given on some products as listed in Public Notice No. 44 dated 05.12.2017, Public Notice No. 02 dated 01.05.2018, Public Notice No. 13 dated 12.06.2018, and Public Notice No. 28 dated 08.08.2018 shall be available only for shipment with Let Export Order date up to 31.12.2019. However, such products will continue to be entitled to normal MEIS benefits as applicable to them prior to the PNs as detailed in Public Notice No.47 dated 7.12.2019 up to 31st March, 2020.

November 27, 2019

Leather exporters tapping new markets

In order to boost shipments, leather exporters from India have penetrated new markets such as the US, Canada, Russia, Japan, the UAE, Australia, and South Korea to tap the surging demand in these countries and increase the country’s overall exports. The Council for Leather Exports (CLE) has been undertaking several export promotion events in Europe and other major and potential markets to expand market share, said a report.

Moreover, the CLE has planned three such meetings in 2020-21, one each in Kolkata, Delhi and Kanpur, which will provide opportunities for Indian exporters across the country to meet foreign buyers. Such events provide a platform to exporters, particularly those in the small and medium segments, to meet overseas buyers without having to travel abroad, the report added. Source: www.eximin.net.

November 27, 2019

Customs Department set to roll out faceless assessment of cargo

The Customs Department will take the ease of doing business initiatives to the next level by rolling out the concept of faceless assessment of cargo across the country over the next few months, whereby consignments will be assessed by a virtual group irrespective of where the Bill of Entry is filed, a top official has said. Source: The Hindu Businessline.

November 23, 2019

Transparent mechanism set up for export freight payment

Stakeholders in India’s export trade have set up a mechanism for payment of freight and its related charges to shipping lines and other logistics intermediaries. This was aimed to curb “profiteering” in the exchange rate when the payments are made in Indian rupees. Source:The Hindu Businessline

October 30, 2019

Fixation of Duty Drawback Brand Rate - New Provision

DGFT has revised the para 7.06 of Handbook of Procedure of FTP 2015-2020 regarding fixation of Brand Rate for Duty Drawback. As per amended provision an application in ANF-7A, along with documents prescribed in ANF-7A & Appendix-7E, may be submitted to RA or DC concerned for the fixation of Brand Rate where All Industry Rate of Duty Drawback is not available or same is less than 4/5th of duties actually paid on raw materials or components used in the production or manufacture of the said goods.

October 17, 2019

Incorporation of new provision in the Handbook of Procedure 2015-20 about cases referred to National Company Law Tribunal (NCLT).

Vide Public Notice No. 39/2015-2020 dated. 18.10.2019 a new Para no. 2.29A is added in Chapter 2 of Handbook of Procedure 2015-20 as under:

2.29 A Any firm / company coming under the NCLT proceedings shall make a summary of statement of outstanding export obligations/liabilities under the FTP schemes, indicating duty saved amounts and applicable interest till the date of start of proceedings before the National Company Law Tribunal (NCLT), any penalty imposed under FTD&R Act, any other dues such as fee etc., and submit the same to the RA concerned and to NCLT, before the start ofNCLT proceedings as part of the statutory filings. The statement of consumption of inputs/procurement of capital goods, attested by chartered engineer/chartered accountant, shall also be submitted along with other documentary details of any partial fulfillment of Export Obligation claimed towards offsetting the duty saved amount.

3. Effect of this Public Notice: A new para has been added in Chapter 2 of Foreign Trade Policy 2015-20 for operational modalities to be followed for the cases referred to National Company Law Tribunal. 

October 17, 2019

Clarification on Steel Import Monitoring System (SIMS)

DGFT has received many representations from trade bodies and industries seeking clarification on Steel Import Monitoring Systems (SIMS) and DGFT has clarified the concerns vide Policy Circular No. 29/2015-20 dated. 04.10.2019. 

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