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“Utility for AA (advance authorisation)/EPCG (export promotion for capital items) discharge/closure shall be stuffed on-line by logging onto the DGFT web site and navigating to providers,” the DGFT mentioned in a coverage round.
The federal government introduced the brand new overseas commerce coverage (FTP) on March 31. It included an amnesty scheme for exporters for one-time settlement of default in export obligation by the holders of advance and EPCG (export promotion for capital items) authorisations.
Beneath the scheme, all pending circumstances of the default in assembly export obligation (EO) of sure authorisations will be regularised by the authorisation holder on fee of all customs duties that had been exempted in proportion to unfulfilled EO and curiosity on the price of 100 per cent of such duties exempted.
In one other commerce discover, the DGFT notified new HSN codes for technical textiles gadgets.
In commerce parlance, each product is categorised below an HSN code (Harmonised System of Nomenclature). It helps in systematic classification of products throughout the globe.
It mentioned that regardless of having particular codes for technical textiles, it has been famous that imports/exports haven’t been booked below right HS codes and the commerce appears to be nonetheless being booked below different accessible codes. “Accordingly, the matter has been reviewed in session with the textiles ministry and it’s reiterated that each one importers/exporters ought to file their invoice of entry/transport invoice with particular HSN codes accessible for man-made fibre and technical textiles below…and to keep away from utilizing another codes,” it mentioned.
A listing of 32 codes has been notified to facilitate the business for simple recognition and serving to them to e book their import and exports below right product class.
It requested the business to counsel extra codes, in the event that they require.
