Year: 2022

Dec 29

Russia starts foreign trade settlements in rupee, more countries to join

The Reserve Bank of India (RBI) in July this year introduced guidelines to promote the settlement of international trade in rupee New Delhi: Russia has become the first country to begin settlement of foreign trade in rupee, giving up dollar and euro all together. Recently, a few transactions in the Indian currency involving Russian firms have taken place. The Reserve Bank of India (RBI) in July this year introduced guidelines to promote the settlement of international trade in rupee. Financial Read Full Details…

Dec 29

Simplified customs rules to become effective on Jan. 1: Govt

Starting on New Year’s Day, the government is to enact updated export measures that simplify and modernize customs procedures in order to maintain the positive trade performance it achieved and maintained throughout 2022. The measures are to take effect on Jan. 1, 2023 under Finance Minister Regulation (PMK) No. 155/PMK.04/2022 on customs procedures for the export sector, issued on Nov. 3 this year, which provides a clearer and firmer legal umbrella. The new regulation also improves on the customs procedures Read Full Details…

Dec 29

India-Australia pact kicks in; zero duty for 96.4% exported goods

The government has begun reaching out to exporters of apparel, chemicals, plastics, gems and jewellery, engineering goods and technical textiles to take advantage of the duty concessions offered by the India-Australia Economic Cooperation and Trade Agreement (ECTA), which comes into force Thursday. Australia is offering zero-duty access to India from day one for about 96.4% of the products exported, including many that currently attract 4-5% customs duty in Australia, textiles, and gems and jewellery. Source : The Economic Times News

May 26

Amendment in import policy of Paper and incorporation of policy condition in Chapter 48 of ITC (uS), 2022, Schedule — I (Import Policy).

Government of IndiaMinistry of Commerce and IndustryDepartment of CommerceDirectorate General of Foreign TradeUdyog Bhavan Notification No. 11/2015-2020New Delhi, Dated: 25 May, 2022 Subject: Amendment in import policy of Paper and incorporation of policy condition inChapter 48 of ITC (uS), 2022, Schedule — I (Import Policy). S.O. (E): In exercise of powers conferred by Section 3 read with Section 5 and Section 9 ofthe Foreign Trade (Development and Regulation) Act, 1992 (as amended from time to time)read with paragraph 1.02 and Read Full Details…

May 26

Exporters Importers Online Help

EXIM Help Desk for Exporters and Importers EximTutor’s Exim Help Desk is a dedicated support system for exporters and importers who encounter issues related to EXIM business. We are committed to facilitating the growth and development of businesses engaged in foreign trade by providing prompt and effective assistance. Our team of experts is always ready to help you with any questions or queries you may have, and we strive to offer innovative solutions that meet your unique needs. At EximTutor, Read Full Details…

May 24

Implementation of the Track and Trace system for export of Pharmaceuticals and drug consignments along with maintaining the Parent-Child relationship in the levels of packaging and their movement in supply chain – Extension of date of implementation regarding.

DGFT – PUBLIC NOTICE NO. 01/2022, DT. 04/04/2022 Implementation of the Track and Trace system for export of Pharmaceuticals and drug consignments along with maintaining the Parent-Child relationship in the levels of packaging and their movement in supply chain – Extension of date of implementation regarding. In exercise of the powers conferred under Paragraph 2.04 of the Foreign Trade Policy, 2015-20, as amended from time to time, the Director General of Foreign ‘Trade hereby amends Para 2.90 A of Handbook Read Full Details…

May 24

Alignment of Appendix 4R with the Finance Act, 2021 with effect from 01.01.2022

To be published in the Gazette of India Extraordinary Part Il Section 3, Sub Section (Il) Government of IndiaMinistry of Commerce & IndustryDepartment of CommerceUdyog Bhawan, New DelhiNotification No: 04/2015-2020New Delhi, 11th May ,2022 Subject: Alignment of Appendix 4R with the Finance Act, 2021 with effect from 01.01.2022 S.O.(E): In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 1.02 of the Foreign Trade Policy 2015-20, the Central Government Read Full Details…

May 24

Implementation of Notification No.06/2015-2020 dated 13 th May, 2022- Prohibition on export of wheat.

To Government of IndiaMinistry of Commerce & IndustryDepartment of CommerceDirectorate General of Foreign Trade Dated 17th May, 2022Trade Notice No.08/2022-2023 All Regional Authorities of DGFT All Customs Commissionerates Members of Trade Subject: Implementation of Notification No.06/2015-2020 dated 13 th May, 2022- Prohibition on export of wheat. Reference is invited to Notification No.06/2015-2020 dated 13 th May, 2022 amending the export policy of wheat under S.No.59 of Chapter 10 of Schedule — 2 of the ITC (HS) Export Policy from ‘Free’ Read Full Details…

May 24

Electronic filing and Issuance of Preferential Certificate of Origin (CoO) for India’s Exports under India-UAE Comprehensive Economic Partnership Agreement (India-UAE CEPA) w.e.f. 01st May 2022

Government of IndiaMinistry of Commerce and IndustryDepartment of CommerceDirectorate General of Foreign TradeDated: 29.04.2022Udyog Bhawan, New Delhi Trade Notice No. 05/2022-2023 To,All Exporters/Members of TradeAll Designated Issuing Agencies under FTAs/PTAs Subject: Electronic filing and Issuance of Preferential Certificate of Origin (CoO) for India’s Exports under India-UAE Comprehensive Economic Partnership Agreement (India-UAE CEPA) w.e.f. 01st May 2022 In continuation to the earlier Trade Notice(s) 34/2015-2020 dated 19.09.2019, 41/2019-2020 dated 12.12.2020, 53/2019-2020 dated 02.03.2020, 01/2020-2021 dated 07.04.2020, 30/2020-2021 dated 13.10.2020, 43/2015-2020 dated Read Full Details…