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Govt allows select exporters to ship formulations.


Date: 03-04-2020
Subject: Govt allows select exporters to ship formulations
The government has allowed exporters having advance licences to ship formulations that have been placed under restricted category.

On March 3, exports of 13 APIs and 13 formulations, including paracetamol, vitamin B1 and B12, put under restricted category amid the coronavirus outbreak in China.

In a policy circular, the Directorate General of Foreign Trade (DGFT) has said that it has received various representations from exporters highlighting the issues faced by them in fulfilling their obligations under Advance Authorisation Scheme.

Under this scheme, raw material imports are allowed duty-free but with an export obligation.

"DGFT has examined these requests and in consultation with the Ministry of Health and Family Welfare and Department of Pharmaceuticals, it has been decided that exports of all formulations" mentioned in the notification dated March 3, "shall be allowed to be exported under the advance license issued on or before the date of notification," it said.

It added that no enhancement of quantity shall be permitted for import and export items in these advance licenses.

Source:- moneycontrol.com

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