Meaning of Status holder/export houses and their privileges
(This post covers latest updates and amendments to earlier policies envisaged in Foreign Trade Policies 2015-2020 in respect of status holders.) The status- holder position allotted to the exporters of goods and services depending upon certain level of export performance achieved by them. The exporters of goods/service who hold valid importer-exporter code no. (IEC) may…
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Importance of labeling the exporting/importing container
Labeling is an important element for products for exporting/importing a container out of/into the country. Primarily, labeling is the technique of identifying the cargo during the operation till the cargo touches the importer’s doorstep. The label on the consignment also gives information about how the package or product should be used. Labeling on the product…
Read article Export credit facility for service exporters
The Exporters of services may seek finances from banks for their requirements to buy consumables, supplies, and wages. Such exporters shall register with the Electronic and software Export Promotion Council or Services Export Promotion Council or with Federation of Indian Export Organizations, as applicable to their unit to be qualified for working capital export credit…
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Source of funding for Buyers credit and supplier credit
Trade Credit (Buyer’s credit/supplier credit) can be raised by Indian importers in any freely convertible foreign currency (FCY-denominated TC) or Indian Rupee (INR-denominated TC), as per the Trade Credits (TC) framework. Buyers’ credit finance means finance for payment of imports in India arranged by the importer (buyer) from a bank or financial institution outside India.…
Read article DGFT implements significant improvements in Advance Authorisation and Norms Fixation Workflow
Advance Authorisation Scheme (AAS) or Advance License Scheme is a duty exemption scheme issued by the Government of India (GOI) under the Foreign Trade Policy 2015-2020. The scheme exempts the payment of import duties on raw materials/inputs required for manufacturing products for export. In addition to any inputs, packaging material, fuel, oil, and catalyst which…
Understanding the documents that are mandatory in India for export and import
In the year 2015, the World Bank ranked India at 123 in the ‘Trading across Borders” component of “Ease of Doing Business”, out of 189 countries. In view of facilitating ease of doing business in our country, the Government of India simplified the mandatory documents for exports and imports. The DGFT’s Notification dated 12-3-2015, made…
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