DGFT amends the Export Policy of Textile Raw Material for Masks and Coveralls
only non-woven fabric of 25 to 70 GSM and melt-blown fabric of any GSM exported against the HS codes 560312, 560392 is prohibited for export. All other non-woven fabrics with GSM other than 25-70 GSM are freely allowed for exports.
The CBIC issues new measures under the ‘Turant Customs’ program
The Central Board of Indirect Taxes & Customs has issued new measures under the flagship of ‘Turant Customs’ program with a view to further prepare the ground for applying the reforms pan-India.
DGFT Extends the validity of Pre-shipment Inspection Agencies till 30th September 2020
The DGFT has extended the validity of recognition of the Pre-shipment Inspection Agencies (PSIAs) who have completed their tenure of three years as on date or whose validity was extended up to 30th June 2019 up to 30th September 2019.
DGFT develops a new digital platform for import export code related service
The Directorate General of Foreign Trade has, as a part of the initiative to revamp its service delivery mechanisms to promote and facilitate foreign trade, has launched a new digital platform on 13th July 2020 to provide services related to the IEC issuance, modification, amendments etc.
Cut & Polish diamonds can be exported with re-import facility at zero duty
The FTP 2015-20 amended to authorize offices/agencies of laboratories in India to export Cut & Polish diamonds to laboratories listed in the Handbook of Procedures with re-import facility at zero duty within 3 months from date of export.
DGFT prohibits the export of PPE coveralls, medical goggles & face-shield
DGFT has prohibited the export of the on personal protection equipments (PPE) such as medical coveralls of all classes and goggles as these products are in huge demand on account of COVID-19 pandemic.
The Foreign Exchange Management (Mode of Payment and Reporting of NonDebt Instruments) (Amendment) Regulations, 2020
The RBI has amended the provisions governing investment by Foreign Portfolio Investors and by a person resident outside India in an Investment Vehicle.
DGFT amends the export policy of human embryos.
The Director-General of Foreign Tarde vide its notification dated 12th June 2020 has amended the export policy of human embryos under chapter 5, schedule-2 of ITC (HS). Earlier the export of human embryos/gametes/gonad tissues where free, however now the government has inserted a condition that a no-objection certificate from the Indian Council of Medical Research […]
DGFT revises the export policy of Diagnostic Kits/Laboratory Reagents/Diagnostic Apparatus
The Director-General of Foreign Trade vide its notification dated 10th June 2020 has restricted the Export of diagnostic kits, laboratory reagents & diagnostic apparatus falling under schedule 2 of ITCHS export policy, as described in para 1(A) and all diagnostic instruments/apparatus/reagents as described in para 1 (B) of the notification.
CBIC has extended the validity of AEO certificates till 30.06.2020
The Validity of AEO certificates like AEO-T1, AEO-T2, AEO-T3 & AEO-LO has been extended.All the AEO certificates expiring between 01.03.2020 and 31.05.2020 shall remain valid till 30.06.2020, except for those entities against which a negative report is received during this period.
