TMI BlogGENERAL PROVISIONS REGARDING IMPORTS AND EXPORTSX X X X Extracts X X X X X X X X Extracts X X X X ..... f mass destruction-related programmes. 2.1.3 Direct or indirect export and import of all items, materials, equipment, goods and technology which could contribute to Iran's enrichment-related, reprocessing or heavy water related activities, or to development of nuclear weapon delivery systems, as mentioned below whether or not originating in Iran, to / from Iran is prohibited: i) items, listed in INFCIRC/254/Rev8/Part I in document S/2006/814, in Sections B.2 to B.7 as well as A.I and B.I except supply, sale or transfer of equipment covered by B.I when such equipment is for light water reactors and low enriched uranium covered by A.1.2 when it is incorporated in assembled nuclear fuel elements for such reactors; ii) items listed in S/2006/815 except supply sale or transfer of items covered by 19.A.3 of Category II. Above-mentioned UN Security Council documents are accessible from DGFT web site. Compliance with Laws 2.2 Every exporter or importer shall comply with the provisions of FT (D R) Act, Rules and Orders made there-under, FTP and terms and conditions of any Authorisation granted to him. All imported goods shall also be subject to domestic Laws, Rules, Ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... material from which they are derived; and viii Prevention of traffic in arms, ammunition and implements of war. Restricted Goods 2.7 Any goods, export or import of which is restricted under ITC(HS) may be exported or imported only in accordance with an Authorisation or in terms of a public notice issued in this regard. Terms and Conditions of a licence/ Certificate/ permission/Authorisation 2.8 Every Authorisation shall be valid for prescribed period of validity and shall contain such terms and conditions as may be specified by RA which may include: (a) Quantity, description and value of goods; (b) Actual User condition; (c) Export obligation; (d) Value addition to be achieved; and (e) Minimum export / import price. Authorisation/Licence/ Certificate/Permission not a Right 2.9 No person may claim an Authorization as a right and DGFT or RA shall have power to refuse to grant or renew the same in accordance with provisions of FT (D R) Act, Rules made there under and FTP. Penalty 2.10 If an Authorisation holder violates any condition of such Authorisation or fails to fulfill export obligation, he shall be liable for action in accordance with FT (D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , shall be restricted for imports and may be imported only in accordance with provisions of FTP, ITC (HS), HBP v1, Public Notice or an Authorisation issued in this regard. Import of second hand capital goods, including refurbished /re-conditioned spares shall be allowed freely. However, second hand personal computers / laptops, photocopier machines, air conditioners, diesel generating sets will only be allowed against a licence. Import of re-manufactured goods shall be allowed only against a licence. Import of samples 2.18 Import of samples shall be governed by HBP v1. Import of Gifts 2.19 Import of gifts shall be permitted where such goods are otherwise freely importable under FTP. In other cases, a Customs Clearance Permit (CCP) shall be required from DGFT. Passenger Baggage 2.20 Bonafide household goods and personal effects may be imported as part of passenger baggage as per limits, terms and conditions thereof in Baggage Rules notified by Ministry of Finance. Samples of such items that are otherwise freely importable under FTP may also be imported as part of passenger baggage without an Authorisation. Exporters coming from abroad are also allowed to im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s applicable shall be paid at the time of clearance of such goods. If such goods are not cleared for home consumption within a period of one year or such extended period as the custom authorities may permit, importer of such goods shall re-export the goods. Free Exports 2.29 All goods may be exported without any restriction except to extent such exports are regulated by ITC (HS) or any other provision of FTP or any other law for time being in force. DGFT may, however, specify through a public notice such terms and conditions according to which any goods, not included in ITC (HS), may be exported without an Authorisation. Export of Samples 2.30 Export of samples and Free of charge goods shall be governed by provisions given in HBP v1. Export of Passenger Baggage 2.31 Bonafide personal baggage may be exported either along with passenger or, if unaccompanied, within one year before or after passenger's departure from India. However, items mentioned as restricted in ITC (HS) shall require an Authorisation. 2Government of India officials proceeding abroad on official postings shall, however, be permitted to carry alongwith their personal baggage, food items (free ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rocure goods from domestic manufacturers without payment of duty. Supplies made by a domestic supplier to such notified warehouses shall be treated as physical exports provided payments are made in free foreign exchange. Denomination of Export Contracts 2.40 All export contracts and invoices shall be denominated either in freely convertible currency or Indian rupees but export proceeds shall be realised in freely convertible currency. However export proceeds against specific exports may also be realized in rupees provided it is through a freely convertible Vostro account of a non resident bank situated in any country other than a member country of ACU or Nepal or Bhutan. Additionally, rupee payment through Vostro account must be against payment in free foreign currency by buyer in his nonresident bank account. Free foreign exchange remitted by buyer to his non-resident bank (after deducting the bank service charges) on account of this transaction would be taken as export realization under export promotion schemes of FTP. Contracts [for which payments are received through Asian Clearing Union (ACU)] shall be denominated in ACU Dollar. Central Government may relax provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iteria. Fiscal Incentives to promote EDI Initiatives adoption 2.45.3 With a view to promote use of Information Technology, DGFT will provide fiscal incentives to user community. Deductions in Application Fee would be admissible for applications signed digitally or / and where application fee is paid electronically through EFT (Electronic Fund Transfer). Details are enumerated in HBP v1. Regularization of EO default and settlement of customs duty and interest through Settlement Commission 2.46 With a view to providing assistance to firms who have defaulted under FTP for reasons beyond their control as also facilitating merger, acquisition and rehabilitation of sick units, it has been decided to empower Settlement Commission in CBEC to decide such cases also with effect from 01.04.2005. Easing Of Documentation Requirement 2.47 Pending finalisation of Single Common Document (SCD) for international trade, Government Departments dealing with exports and imports will honour Authorisation issued by other Government departments based on verification of export documents Like shipping bill, bank realization certificate, Packing list, bill of lading etc. and will not insis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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