Policies on steel manufacture & export
Measures taken to facilitate a more conducive policy environment for more competitive domestic steel making and exports.
Central Government commences Trade Infrastructure for Export Scheme
The States can avail of the scheme through their implementing agencies for infrastructure projects with significant export linkages like Border Haats, Land customs stations, quality testing and certification labs, cold chains, trade promotion centres, export warehousing and packaging, SEZs and ports/airports cargo terminuses.
DGFT amends Import Policy Conditions under ITC HS Code 2515
According to the amended import policy, import of 10000 MT of marble from Bhutan shall be allowed annually without Minimum Import Price subject to prescribed conditions.
DPIIT publishes Annual Report 2022-2023
Some of the aspects highlighted in the report are PM Gatishakti National Master Plan (NMP) for Multimodal Connectivity, Regulatory Reforms- Creating Ease for Doing Business, Startup India, Investment Promotion and International Co-operation, etc
New rate of exchange for conversion of foreign currencies into Indian currency or vice versa for import and export of goods
The revised rates shall have effect from 3rd March, 2023.
DGFT amends Handbook of Procedures 2015-2020 for implementation of all Policy Relaxation Committee decisions
DGFT has amended the Handbook of Procedures 2015-2020 to implement the previous decisions of PRC involving process of levying Composition Fee in case of extension of Export Obligation Period (BOP) and/or regularization of exports already made under Advance Authorization Scheme, for ease of doing business and reduction of transaction cost.
DGFT relaxes Procedure for Acceptance of Additional Fee Covering Excess Imports under EPCG Scheme
The Directorate General of Foreign Trade (DGFT) has granted a one-time relaxation for furnishing additional fee to cover excess imports affected under Export Promotion Capital Goods (EPCG) Scheme. The present notice grants one-time relaxation in submission of additional fee to cover excess duty utilised in EPCG authorisations issued under Foreign Trade Policy (2009-14) (extended upto 31.03.2015).
CBIC amends its Circular on Centralised Antecedent Verification of warehouse licence applicants
The CBIC has noted that the cases of centralised system of antecedent verification are facing unreasonable delays in certain field formations. Hence, it has inserted a clause in it Circular stipulating that “…antecedent verification must be completed within 45 days from the receipt of the application.”
CBIC amends its Circular to include details of Ex-bond Bill of Entry or Shipping Bill in Form A
CBIC by its previous circular had issued ‘Form A’ for capturing details relating to receipts, handling, storage and removal of warehoused goods. Form A has been amended by inserting a new column, i.e. Column No. 25A titled ‘Ex-bond Bill of Entry No. and dare/ Shipping Bill No. and date’
RBI Introduces Foreign Contribution (Regulation) Act (FCRA) related transaction code in NEFT and RTGS Systems
Member banks are advised to incorporate necessary changes in their core banking / middleware solutions to capture the requisite details while forwarding the foreign donations through NEFT and RTGS systems to SBI
