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Export License.




Introduction

An export license is a document issued by the appropriate licensing agency after which an exporter is allowed to transport his product in a foreign market. The license is only issued after a careful review of the facts surrounding the given export transaction. Export license depends on the nature of goods to be transported as well as the destination port. So, being an exporter it is necessary to determine whether the product or good to be exported requires an export license or not. While making the determination one must consider the following necessary points:

  •  What are you exporting?

  • Where are you exporting?

  • Who will receive your item?

  • What will your items will be used?

Canalisation

Canalisation is an important feature of Export License under which certain goods can be imported only by designated agencies. For an example, an item like gold, in bulk, can be imported only by specified banks like SBI and some foreign banks or designated agencies.

Application for an Export License

To determine whether a license is needed to export a particular commercial product or service, an exporter must first classify the item by identifying what is called ITC (HS) Classifications. Export license are only issued for the goods mentioned in the Schedule 2 of ITC (HS) Classifications of Export and Import items. A proper application can be submitted to the Director General of Foreign Trade (DGFT). The Export Licensing Committee under the Chairmanship of Export Commissioner considers such applications on merits for issue of export licenses.

Exports Free unless regulated

The Director General of Foreign Trade (DGFT) from time to time specifies through a public notice according to which any goods, not included in the ITC (HS) Classifications of Export and Import items may be exported without a license. Such terms and conditions may include Minimum Export Price (MEP), registration with specified authorities, quantitative ceilings and compliance with other laws, rules, regulations.

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What is New?

Date: 31-07-2015
Customs Notification No 72/2015 (NT)
Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

Date: 31-07-2015
Notification No. 35/2015-Customs (ADD)
Seeks to finalize provisional assessments of all imports of ceramic glazed tiles falling under tariff item 6908 90 90 , by M/s Gaoyao Marshal Ceramics Co. Ltd., China PR (producer) through M/s Foshan Dihai Trading Development Co.Ltd., China PR (exporter) which have been subjected to provisional assessment pursuant to the Notification No.109/2011-Customs, dated the 15th December, 2011

Date: 31-07-2015
Notification No. 36/2015-Customs (ADD)
Seeks to Rescind notification No.109/2011-Customs, dated the 15th December, 2011

Date: 30-07-2015
Customs Notification No. 41/ 2015
Seeks to amend Notification No.49/2013-Customs dated 29.11.2013.

Date: 30-07-2015
Customs Notification No. 42/ 2015
Seeks to further amend Notification No.39/96-Customs dated 23.7.1996.

Date: 30-07-2015
Central Excise Notification No 40/2015
Seeks to amend Notification No.30/2013-Central Excise dated 29.11.2013

Date: 28-07-2015
DGFT Notification No 16/ 2015-2020
Amendment in export policy of sawn timber-addition of ports for export to Nepal.

Date: 28-07-2015
Notification No. 34/2015-Customs (ADD)
Seeks to levy definitive anti-dumping duty on imports of Compact Fluorescent Lamps (CFL), originating in or exported from the People's Republic of China for a period of five years.

Date: 24-07-2015
Customs Notification No 70/2015 (NT)
Appointment of Common Adjudicating Authority

Date: 24-07-2015
Customs Notification No 71/2015 (NT)
Appointment of Common Adjudicating Authority



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