New Foreign Trade Policy / Export Policy 2007-2008 - Chapter 1A, Legal Framwork CHAPTER 1A LEGAL FRAMEWORK Preamble 1.1 The Preamble spells out the broad framework. Duration 1.2 This Foreign Trade Policy 2004-2009 (FTP), incorporating provisions relating to export and import of goods and services, shall come into force with effect from 1st April, 2007 and shall remain in force upto 31st March, 2009 unless otherwise specified. Amendments 1.3 Central Government reserves right in public interest to make any amendments by notification to this Policy in exercise of powers conferred by Section 5 of FT(D&R) Act. 1.4 Authorisations issued before commencement of FTP shall continue to be valid for the purpose and duration for which such Authorisation was issued, unless otherwise stipulated. Transitional Arrangements 1.5 In case an export or import that is permitted freely under FTP is subsequently subjected to any restriction or regulation, such export or import will ordinarily be permitted notwithstanding such restriction or regulation, unless otherwise stipulated, provided that shipment of export or import is made within original validity with respect to available balance and time period of an irrevocable commercial letter of credit. [OLD- irrevocable letter of credit] established before date of imposition of such restriction. However, a time limit for operationalising such LCs may be prescribed]. (In this Para the words "irrevocable commercial letter of credit" has been substituted vide DGFT NOTIFICATION NO. 20/2007, DT. 13/08/2007). (Please Review DGFT Policy. Circular No. 04/2007, DT. 16/08/2007 - Transitional Arrangements under Para 1.5 of Foreign Trade Policy, 2004-2009.). The Central Government prohibits with immediate effect any export of non-basmati rice, under the Transitional arrangements under Para 1.5 of Foreign Trade Policy, 2004-2009 (as amended from time to time), with reference to the restrictions imposed vide Notification No. 38(RE-2007)/2004-2009, dated 15.10.2007, and Notification No. 45(RE-2007)/2004-2009, dated 31.10.2007, and Notification No. 68(RE-2007)/2004-2009, dated 27.12.2007 (Ref. DGFT NOTIFICATION No. : 77/2007, Dated 07-02-2008).
Get Sample Now Which service(s) are you interested in? Export Data Import Data Both Buyers Suppliers Both OR Exim Help + Exim News Date: 28-01-2020 Country could be passing through recession: Abhijit Banerjee Date: 28-01-2020 Tyre exports rise 11% in April-Nov Date: 28-01-2020 2020 promises key GST milestones Date: 28-01-2020 Breach of linkages between market and economy will show in 2020 too Date: 28-01-2020 100,000 tons of Dutch-made Tata steel exempt from US tariffs Date: 27-01-2020 Higher local demand may hurt steel exports in FY21 Date: 27-01-2020 Slash GST on Auto LPG, address policy issues stalling growth: Industry body to FM Date: 27-01-2020 Slash GST on Auto LPG, address policy issues stalling growth: Industry body to FM Sitharaman Date: 27-01-2020 Budget preview: Rural stimulus & protectionist measures may aid consumption stocks Date: 27-01-2020 Govt may consider import duty cut on raw material for fertiliser industry in Budget What is New? Date: 24-01-2020 Notification No. 01/2020-Customs (ADD) seeks to amend notification No. 40/2017-Customs(ADD) dated 25-08-2017, to revise anti-dumping duty on imports of "Sodium Nitrite" originating in or exported from China PR, in pursuance of final findings of sunset review investigations issued by DGTR vide notification No. 15/06/2016-DGTR dated the 8th November 2019.. Date: 23-01-2020 A.P. (DIR Series) Circular No.20 Merchanting Trade Transactions (MTT) – Revised Guidelines Date: 23-01-2020 A.P. (DIR Series) Circular No.19 ‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt – relaxations Date: 23-01-2020 A.P. (DIR Series) Circular No.18 Investment by Foreign Portfolio Investors (FPI) in Debt Date: 21-01-2020 Circular No. 4/2020 – Customs Clarification relating to import of gifts - Reg Date: 20-01-2020 A.P. (DIR Series) Circular No.17 Introduction of Rupee derivatives at International Financial Services Centres (IFSC) Date: 17-01-2020 TRADE NOTICE NO. 46/2019-20 Mis-classification goods under 'Others' category at the time of Import- reg. Date: 16-01-2020 Notification No.05/2020 - Customs (N.T.) Exchange Rates Notification No.05/2020-Custom (NT) dated 16.01.2020. Date: 15-01-2020 Notification No. 03/2020- Customs (N.T.) Notification of Ghasuapara LCS for imports also by amendment of Notification No. 63/1994-Customs dated 21st November 1994 Date: 15-01-2020 Notification No. 04/2020-CUSTOMS (N.T.) Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver - reg.
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