Central Government Designates Ports for Red Sanders Repatriation from Nepal
The Central Government has designated specific ports for the repatriation of red sanders from Nepal. The ports of entry and exist have been designated for the purpose of regulation of International Trade of red sanders between India and Nepal, ensuring strict adherence to environmental regulations and international trade norms.
CBIC issues revised rates of customs duty payable upon import of precious metals
The revised rates shall replace the existing rates with immediate effect.
Extension of validity of Pre-Shipment Inspection Agencies
The validity of recognition of the Pre-Shipment Inspection Agency (PSIAs) provided under Foreign Trade Policy 2023 which are completing their original
tenure of three years as on 27.12.2023 is extended upto 31.03.2024.
Revised import policy for import of Used IT Assets (Laptops, desktops, monitors, printers) from Special Economic Zone (SEZ) to Domestic Tariff Area(DTA)
Import of Used IT Assets (Laptops, desktops, monitors, printers) from Special Economic Zone (SEZ) to Domestic Tariff Area(DTA) shall be free.
Extension of Date for Mandatory electronic filing of Non-Preferential Certificate of Origin
The exporters and Non-Preferential COO Issuing Agencies as notified under Appendix-2E of the FTP would have the option to use the online system, the online application process shall not be mandatory till 31 December 2024. In this interim period, the existing systems of processing non-preferential COO applications in manual/paper mode is permitted.
CBIC enables gold imports by valid TRQ holders under India UAE CEPA
Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 shall not be applicable if the importer and the TRQ Holder are the same entity.
Revised Export Policy of Food Supplements
The export of Food Supplement containing botanicals to Europe Union (EU) and United Kingdom (UK) originating in or consignment from India and intended for human or animal consumption, is allowed subject to issuance of the official certificate issued Export Inspection Council (EIC) Export Inspection Agencies (EIAs), the designated Competent Authority for issuance of official certificate.
DGFT has directed for Closure of cases of default in Export Obligation under Advance Authorization and EPCG Schemes for relaxation in policy/procedure
Policy Relaxation Committee (PRC)/EPCG Committees considers each application based on individual facts and circumstances oh a case to case basis. Since Policy relaxation is not a matter of right, all such authorization holders are advised to not wait till their requests are decided by the PRC/EPCG Committees and submit their applications for closure of default in EO under the Amnesty Scheme by the prescribed date of 31.12.2023.
“HaritSagar” Green Port Guidelines to reduce carbon intensity and to develop an environment-friendly ecosystem at all Major Ports
Under these guidelines, various green interventions such as ship-to-shore power supply, electrification of Port equipment, usage of alternate fuels such as green Hydrogen/Green Ammonia/Methanol in port crafts, creation of infrastructure at select Ports for storage, bunkering, and refuelling of Green hydrogen/Green Ammonia, increase share of Renewable Energy etc. have been provided.
Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit extended till 30.06.2024
Benefit shall be continued till 30.06.2024 to manufacturer and merchant exporters of the identified 410 tariff lines and to all manufacturer exporters from MSME sectors at rates as specified. The scheme shall be implemented by RBI through various Public and non-Public Sector banks who provide pre and post shipment credit to the exporters. The Scheme is jointly monitored by DGFT and RBI through a consultative mechanism.
