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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: 19-04-2018
Notification No.33/2018-Customs (N.T.)
Exchange Rates Notification No.33/2018-Custom(NT) dated 19.4.2018

Date: 18-04-2018
Notification No. 22/2018-Customs (ADD)
seeks to impose definitive anti-dumping duty on imports of Glassware, originating in, or exported from People's Republic of China and Indonesia. .

Date: 17-04-2018
Notification No. 21/2018-Customs (ADD)
seeks to extend the levy of anti-dumping duty, imposed on imports of Soda Ash originating in or exported from Russia and Turkey under Notification No. 8/2013-Customs (ADD), dated the 18.04.2013 for a further period of one year (i.e. 16.04.2019) or till the conclusion of the sunset review investigations initiated by the Designated Authority vide initiation notification No.7/4/2018-DGAD dated the 16th April, 2018, whichever is earlier.

Date: 16-04-2018
DGFT Notification No.02/2015-2020
Incorporatoin of new HS Codes for laying down import policy for Kabuli Chana, Bengal gram and Others under Exim Code 0713 of Chapter 07 of ITC (HS), 2017, Schedule - I (Import Policy).

Date: 16-04-2018
DGFT Notification No.03/2015-2020
Amendment in import policy conditions under Exim Code 9022 of Chapter 90 of ITC (HS), 2017, Schedule - I (Import Policy).

Date: 13-04-2018
Notification No.32/2018-Customs (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver.

Date: 12-04-2018
A.P. (DIR Series) Circular No.23
Liberalised Remittance Scheme (LRS) for Resident Individuals – daily reporting of transactions

Date: 11-04-2018
Trade Notice No- 2/2018-19
Launch of facility to check status of Importer Exporter Code (IEC) application made to DGFT

Date: 10-04-2018
Notification No. 43/2018-Customs
seeks to increase tariff rate of basic customs duty (BCD) on tariff items covered under tariff sub head 0404 10 ie. Whey and modified Whey, whether or not concentrated or containing added sugar or other sweetening matter, and under tariff item 0404 90 00 ie. Other Whey from present 30% to 40% by invoking section 8A (1) of the Customs Tariff Act, 1975.

Date: 10-04-2018
Notification No. 44/2018-Customs
seeks to amend notification No. 50/2017 Customs dated 30.06.2017 so as to maintain effective rate of BCD on Whey, concentrated, evaporated or condensed, liquid or semi-solid (0404 10 10) and Other Whey (0404 90 00) at 30%.



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