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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: 17-12-2014
RBI/2014-15/360 A.P. (DIR Series) Circular No.51
Foreign Exchange Management (Deposit) Regulations, 2000 - Exemption thereof

Date: 17-12-2014
Customs Notification No 115/2014 (NT)
Amends Exchange Rate notfn. 113/2014-Customs (NT) effective from 18th December, 2014

Date: 17-12-2014
Central Excise Circular No. 991/07/2014-CX
Amendment to CESTAT Appeal Forms

Date: 16-12-2014
RBI/2014-15/357 A.P. (DIR Series) Circular No.49
Money Transfer Service Scheme – Delegation of work to Regional Offices-Submission of Statements / Returns

Date: 16-12-2014
RBI/2014-15/358 A.P.(DIR Series) Circular No.50
Rupee Drawing Arrangement – Delegation of work to Regional Offices-Submission of Statements / Returns

Date: 15-12-2014
Customs Notification No 114/2014 (NT)
Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

Date: 11-12-2014
Customs Notification No. 33/ 2014
Grants exemption from the duties of Customs to goods imported for donation for the relief and rehabilitation of people affected by the floods in the State of Jammu and Kashmir.

Date: 11-12-2014
Customs Notification No. 48/2014-Customs (ADD)
Seeks to impose definitive anti-dumping duty on imports of Clear Float Glass originating in or exported from Pakistan, Saudi Arabia and United Arab Emirates (UAE).

Date: 11-12-2014
Customs Circular No 14/2014
Regarding adjudication of appraising related cases

Date: 11-12-2014
Central Excise Notification No 25/2014
Grants exemption from Basic Excise Duty to goods donated or purchased out of cash donations for the relief and rehabilitation of people affected by the floods in the State of Jammu and Kashmir