WTO - FTP - Understand this way ....

FOREIGN TRADE POLICY [FTP] 2004-09

By Director General of Foreign Trade (DGFT)

Under Ministry of Commerce

Using the powers given under

Foreign Trade (Development & Regulation) Act, 1992 [FTDR]

 

FTP OVERRIDES Handbook of Procedures (Hp) by DGFT[Narendra Udeshi V UOI]

 

CONTENTS:

 

VOLUME 1: Basics of Policy;

VOLUME 2: Procedural Aspects of Policy; [Hp Volume-1];

VOLUME 3: SION [Standard Input Output Norms] of Products; [Hp Volume-2];

VOLUME 4: ITC (HSN) à Items under Import & Export policy;

VOLUME 5: Handbook of DEPB rates.

 

ADMINISTRATION:

1. Issue of licenses by DGFT   à  Licensing Committee/Regional Authority;
2. Procedures as per Hp;
3. Interpretation & Classification of DGFT à FINAL & BINDING;
4. DGFT license/clarification OVERRIDES Customs Authorities;

 

IEC [IMPORT EXPORT CODE]: MANDATORY for Exporters/Importers.  The exceptions include,

1. Central Government & its agencies; State Governments;
2. For personal use, not being trade/agriculture/manufacturing;
3. EXIM to/from Nepal/Myanmar upto Rs. 25000 per Single Consignment;

 

SUSPENSION/CANCELLATION OF IEC: After DGFT notice & Heard on,

1. Contravention of CEA, CA, FEMA, FTDR, or Economic offences;
2. EXIM prejudicial to trade relations or injurious;

Just remember this ! SCHEMES ENCOURAGING EXPORTS ARE NOT IN VIOLATION OF WTO STIPULATIONS: All export promotion schemes are directed towards ensuring that Inputs as well as Final products are made 'tax free'.

 Now,                                 STAR EXPORT HOUSES [Status Holders] 

1.       Based on average [FOB/FOR export value during Current & 3 preceeding years] Export Performance but not to consider re-exports, deemed exports, jewellery, precious stones, and supplies from SEZ/EHTP/EOU.

 

DEEMED EXPORTS:- When projects are financed with free forex as goods & services do not leave the country and suppliers get payment in Rupees.   It includes evaluation of bids for global tenders without Customs, Supplies to EOU and Supplies against Annual Advance License (AAL).

 

2.       SSI, Handicrafts, Agro exports or exports to sub-saharan Africa units with ISO 9000 status are entitled to double weightage when considering export performance.

 

3.        

ONE STAR EXPORT HOUSE	RUPEES 15 CRORES;
TWO STAR EXPORT HOUSE	RUPEES 100 CRORES;
THREE STAR EXPORT HOUSE	RUPEES 500 CRORES;
FOUR STAR EXPORT HOUSE	RUPEES 1500 CRORES;
FIVE STAR EXPORT HOUSE	RUPEES 5000 CRORES;

 

4.       Procedural simplifications for all status holders:

Ø      License/Certificate/Permissions on self-declaration basis;

Ø      Fixation of SION within 60days;

Ø      Exemption from compulsory negotiation of documents from banks;

Ø      100% retention of FOREX in EEFC A/C.;

Ø      Enhancement of repatriation period from 180 to 360 days;

Ø      Entitlement to Annual Advance Licenses (AAL) for annual requirements;

Ø      Priority long term finance;

Ø      Letter of Undertaking instead of Bank Guarantee;

>   Additional facilities for fast clearances.

 

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Vj
Trezrrr every pulsss
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