RBI has discontinued the requirement to file a set of returns/reports prescribed under FEMA
It has been decided to discontinue the requirement to file 17 returns/reports as listed in the notification.
FSSAI directs to carry out food import clearance in priority and without delay
The FSSAI has informed that importers of pulses may carry out advance filing of Bill of Entries in Food Import Clearance System of FSSAI.
Strategic Policy & Facilitation Bureau (SPFB) to be set up to facilitate growth of the Ayush Sector
The Ministry of AYUSH would assist the Bureau in responding to investment proposal, issue and queries and fund Invest India for undertaking activities assigned. The Ministry will also support the Bureau in building links with various stakeholders such as industry associations, affiliate bodies of Ministry and Industry representation.
DGFT issues notice for linking/registration of IECs in the new revamped DGFT online environment.
The online process relating to entire lifecycle of Advance Authorisation, EPCG & DFIA including their paperless Exports Obligation Discharge (EODC) shall be rolled out soon.
The Special Economic Zones (Amendment) Rules, 2020
The amendment provides that in case of supplies from Domestic Tariff Area to foreign suppliers in Free Trade and Warehousing Zone, the drawback or any other similar benefit Scheme shall be admissible where the payments are made in foreign currency by the foreign supplier to Domestic Tariff Area.
Revised export policy for Nitrile/NBR Gloves
The export policy of Nitrile/NBR Gloves is revised from “Prohibited” to “Restricted” category.
DGFT bans import of Air Conditioner with refrigerants.
The Director-General of Foreign Trade vide its notification dated 15th October 2020 prohibits the import of air conditioners with refrigerants with a view to promote domestic manufacturing and cut imports of non-essential items. The ban is imposed on both window and split ACs with refrigerants.
DGFT brings amendment to the procedure in monitoring export obligation under foreign trade policy.
on monitoring of export obligation stands amended to allow extension in the date of submission of documents for EO fulfilment up to 31st December 2020 for all the advancement authorisation, wherever export obligation period is expiring/has expired between 1st February and 31st October 2020.
DGFT amends restriction on export of alcohol-based hand sanitiser.
The alcohol based hand sanitizer in containers with dispenser pumps which were earlier prohibited, has now been made free for export making export of Alcohol based Hand Sanitizers in any form/packaging freely exportable, with immediate effect.
RBI reviews Export Data Processing and Monitoring System (EDPMS) Module for ‘Caution/De-caution Listing of Exporters
Under the revised procedure, AD bank would make recommendations to the Regional Office concerned of the Foreign Exchange Department of the Reserve Bank and exporter would be caution-listed by the Reserve Bank based on the recommendations of the AD bank concerned, depending upon the exporters track record with the AD bank and investigative agencies.
