Guidance on - Foreign Trade Policy, Service Location Pan India, Location World Wide

Features of international commerce regulations export, Import free unless specifically regulated by the stipulations of the policy or various alternatives law for the time being in force. There are restrictions intended for overseas shipment and imports for various strategic, Health, And other reasons. If the goods are the government, Not banned can give a permission/license for specific reasons exports are promoted through various promotional schemes there should be no taxes on exports the taxes, And hence are either exempted or adjusted or refunded on both outputs through schemes, And inputs of duty refund, Duty exemption drawbacks and rebates . Even capital goods can be imported at nil duty to serve the function of exports under the scheme of epcg for units undertaking to export all their production, There are special schemes enabling them to can avoid taxes at every stage under the scheme of eou. In certain cases imports get duty exemption/concession for certain special purposes. In such cases, To enable domestic suppliers compete throughout global landscapeuppliers, Their supplies are regarded as deemed exports. Policy for import/export for each item provided based on itc hs published and notified by dgft authorities involved foreign trade policy foreign trade policy is formulated by dgft, But is administered in close coordination with other agencies. Important authorities dealing with ftp are director general international commerce dgft is the nodal body formulating the export import policy. It works under the business location of commerce. Dgft has several offices across different regions of the country which issues licenses, Incentives etc derived from the policy formed by the headquarters at delhi. Customs customs take care of clearance of export and import goods after their valuation and examination. Customs follow the policy formed by the dgft while clearing the goods. Customs works under the ministry of finance. Central excise since you will find a central tax applied to nearly all of the manufactured products, Central excise authorities are required to be involved for all matters of exports, Where goods are required to be cleared without duty. Central excise works as customs departments at various required places, And has a vital contribution in the procedural aspects. They work under ministry of finance. Reserve bank of india rbi rbi is the nodal bank throughout the territory which formulates all the policy related to management including payments, Of money and receipts of foreign exchange. It also monitors the receipt and payments for exports and imports. Rbi works under the ministry of finance. Sales tax since sales tax is due on domestic goods but not on export goods. Formalities with sales tax department is important to avoid sales tax on export.