DGFT Implements Notification amending the import policy of Moong from “Free” to “Restricted
Implementation of Notification dated 11.02.2022 amending the import policy of Moong from “Free” to “Restricted”. DGFT has decided to allow such importers to import Moong subject to the conditions.
The Marine Products Export Development Authority (Amendment) Rules, 2021.
Every application for the registration of a fishing vessel, processing plant, storage premises for marine products, conveyance used for the transport of marine products, peeling shed, fresh or chilled fish handling centre, live fish handling centre or dried fish handling centre shall be made to the Secretary or other officer authorised by him in Form I, Form II, Form II a, Form II b, Form II c and Form II d, Form III or Form IV, as the case may be, obtainable from the offices of the Authority on payment of rupees two hundred for each application.
Anti-Dumping Duty (ADD) on Jute products
The anti-dumping duty shall remain in force up to and inclusive of the 30th June, 2022, unless revoked, superseded or amended earlier.
Digital platform for issue of registration cum membership certificate
Issuing and filing of registration cum membership certificate shall be through digital platform from next financial year, i.e 01.04.2022.
DGFT notifies amendment in export policy of Injection Remdesivir and Remdesivir Active Pharmaceutical Ingredients (API).
Earlier, the department restricted the export of injection Remdesivir and Remdesivir Active Pharmaceutical Ingredients (API), drug which is used in COVID-19 treatment. However due the decline in covid-19 case, the export policy of Injection Remdesivir and Remdesivir Active Pharmaceutical Ingredients (API), Amphotericin – B injections, Enoxaparin (Formulation and API) and Intra-Venous Immunoglobulin (IVIG) (Formulation and API) has been made ‘Free’ with immediate effect.
DGFT amends the import policy of liquid crystals and organic light-emitting diodes.
The import policy of items under ITC(HS) 8524 and 8525 of Chapter 85 of ITC(HS) 2022, Schedule – I (Import Policy) has been revised from ‘Restricted’ to ‘Free’ with immediate effect.Chapter 85 deals with Electrical machinery and equipment, sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles.
Revised Import Policy for Moong
The import policy is now revised to Restricted.
CBIC extends validity of revised standard duty of customs leviable on oil products
The prior notification dated 13 October 2021 provided that no standard duty of customs shall be leviable on Crude Soya-bean oil, whether or not degummed, Crude Palm Oil and Crude Sunflower. 17% of standard duty of customs shall be leviable on Soya-bean oil, edible grade, Refined bleached deodorized(RBD) palm oil, RBD palmolein, RBD palm stearin and any palm oil other than crude palm oil and Sunflower oil, edible grade. This validity of this notification has been extended till 13 October, 2021.
Revised Procedure for allocation of quota, for year 2022-2023, for import of Calcined Pet Coke for Aluminum Industry and Raw Pet Coke for CPC manufacturing industry
Completed online application along with the required documents mentioned must be submitted on or before 28th February, 2022. Further, applicants are also required to submit undertaking along with the online application regarding utilization of import license issued to them for FY 2021-22 and surrender any unutilized quantity by 28.02.2022.Failure to do so would result in deduction of such quantity from their allocation for the year 2022-23.
RBI Statement on Developmental and Regulatory Policies
Banks in India are allowed to undertake transactions in the offshore Foreign Currency Settled Overnight Indexed Swap (FCS-OIS) market with non-residents and other market makers. Banks may participate through their branches in India, their foreign branches or through their IFSC Banking Units.
