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Foreign Trade Policy- 2015-2020- Gist

Other Topics - By: - Deepak Aggarwal - Dated:- 1-4-2015 Last Replied Date:- 30-12-1899 - Gist of Foreign Trade Policy - 2015-2020 SIMPLIFICATION and MERGER OF REWARD SCHEMESS Merger of 5 existing different Schemes (Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri. Infrastructure Incentive Scrip, VKGUY) into a single scheme, namely Merchandise Export from India Scheme (MEIS) and there would be no conditionality attached to the scrips issued under the scheme. R .....

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ondition and will no longer be restricted to usage for specified types of goods but be freely transferable and usable for all types of goods and service tax. SEIS shall apply to Service Providers located in India instead of Indian Service Providers . Thus SEIS provides for rewards to all Service providers of notified services, who are providing services from India, regardless of the constitution or profile of the service provider. The rate of reward under SEIS would be based on net foreign exc .....

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r to reduce their transaction costs and time. The nomenclature of Export House, Star Export House, Trading House, Star Trading House, Premier Trading House certificate has been changed to One, Two, Three, Four, Five Star Export House. The criteria for export performance for recognition of status holder have been changed from Rupees to US dollar earnings. Approved Exporter Scheme - Self certification by Status Holders. BOOST TO MAKE IN INDIA Reduced Export Obligation (EO) for domestic procure .....

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ssage exchange with Ministry of Corporate Affairs for CIN and DIN. Message exchange with CBDT for PAN. Facility to pay application fee using debit card / credit card. Open API for submission of IEC application. Mobile applications for FTP Other new Initiatives EOUs, EHTPs, STPs have been allowed to share infrastructural facilities among themselves. Inter unit transfer of goods and services have been allowed among EOUs, EHTPs, STPs, and BTPs. EOUs have been allowed facility to set up Wareh .....

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condition or any ground of genuine hardship, then such period of 5 years for NFE completion can be extended by one year At present, EOUs/EHTP/STPI units are permitted to transfer capital goods to other EOUs, EHTPs, STPs, SEZ units. Now a facility has been provided that if such transferred capital goods are rejected by the recipient, then the same can be returned to the supplying unit, without payment of duty. A simplified procedure will be provided to fast track the de-bonding / exit of the S .....

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rders will be considered on automatic basis subject to certain conditions. Verification of End User Certificate (EUC) is being simplified if SCOMET item is being exported under Defence Export Offset Policy. Outreach programmes will be conducted at different locations to raise awareness among various stakeholders. Facilitating and Encouraging Export of Defence Exports Export obligation period for export items falling in the category of defence, military store, aerospace and nuclear energy shal .....

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