Indias Import Policy Procedures and Duties. The following is an excerpt from the July 2. Updated 27 June 2017 Copyright 2014 Atlas International Importing Personal Property Into India CUSTOMS REGULATIONS AND REQUIRED DOCUMENTS All goods entering India are. Central Drugs Standard Control Organization Directorate General of Health Services, Ministry of Health and Family Welfare, Government of India. This is a list of countries by oil imports based on The World Factbook and other sources. Many countries also export oil, and some export more oil than they import. Documents required for import customs clearance Wednesday, January 04, 2017 Category For Beginners. The information provided here is part of Guide on howtoexport. Ieccodeonline. com is professional online portal to help companies IE Code Registration, Apply For Fresh IEC, Any Modification Duplicate Certificate Online in India. Trademark registration protects your brand logo. LegalRaasta is top trademark consultant in Delhi NCR, Mumbai, Bengaluru India Rs 1499 only. Chem Fact Sheets Pdf there. How To Apply For Import License In India' title='How To Apply For Import License In India' />India Briefing Magazine, titled Passage to India Selling to Indias Consumer Market. In India, the import and export of goods is governed by the Foreign Trade Development Regulation Act, 1. Indias Export Import EXIM Policy. Indias Directorate General of Foreign Trade DGFT is the principal governing body responsible for all matters related to EXIM Policy, and new guidelines on Foreign Trade Policy FTP are expected to be released soon to replace previous FTP guidelines that expired in March 2. Importers are required to register with the DGFT to obtain an Importer Exporter Code Number IEC issued against their Permanent Account Number PAN, before engaging in EXIM activities. After an IEC has been obtained, the source of items for import must be identified and declared. The Indian Trade Classification Harmonized System ITC HS allows for the free import of most goods without a special import license. How to get IMPORT EXPORT CODE IEC NUMBER Friday, September 15, 2017 Category FAQ. The information provided here is part of Online export import training guide. FedEx International Resource Center China Country Snapshot. For additional service options, see the international shipping services chart. The import and export of all goods in India are free, except for the items regulated by Indias Export Import Policy or any other law currently in force. Certain goods that fall under the following categories require special permission or licensing, however Licensed Restricted Items Licensed items can only be imported after obtaining an import license from the DGFT. These include some consumer goods such as precious and semi precious stones, products related to safety and security, seeds, plants, animals, insecticides, pharmaceuticals and chemicals, and some electronic items. Canalized Items Canalized items can only be imported via specified transportation channels and methods, or through government agencies such as the State Trading Corporation STC. These include petroleum products, bulk agricultural products such as grains and vegetable oils, and some pharmaceutical products. Prohibited Items These goods are strictly prohibited from import and include tallow fat, animal rennet, wild animals, and unprocessed ivory. RELATED Impact of GST on Imports and Exports in India Import Procedures All importers must follow detailed customs clearance formalities when importing goods into India. A comprehensive overview of EXIM procedures can be found on the Indian Directorate of General Valuations website. Bill of Entry Every importer is required to begin by submitting a Bill of Entry under Section 4. This document certifies the description and value of goods entering the country. The Bill of Entry should be submitted as follows 1 The original and duplicate for customs. A copy for the importer. A copy for the bank. A copy for making remittances. Under the Electronic Data Interchange EDI, no formal Bill of Entry is required as it is recorded electronically but the importer is required to file a cargo declaration after prescribing particulars required for processing of the entry for customs clearance. Bills of Entry can be one of three types Bill of Entry for Home Consumption This form is used when the imported goods are to be cleared on payment of full duty. Home consumption means use within India. It is white colored and hence often called the white bill of entry. Bill of Entry for Housing If the imported goods are not required immediately, importers may store the goods in a warehouse without the payment of duty under a bond and then clear them from the warehouse when required on payment of duty. This will enable the deferment of payment of the customs duty until goods are actually required. This Bill of Entry is printed on yellow paper and is thus often called the yellow bill of entry. It is also called the into bond bill of entry as the bond is executed for the transfer of goods in a warehouse without paying duty. Bill of Entry for Ex Bond Clearance The third type is for ex bond clearance. This is used for clearance from the warehouse on payment of duty and is printed on green paper. It is important to note that the rate of duty applicable is as it exists on the date a good is removed from a warehouse. Therefore, if the rate changes after goods have been cleared from a customs port, the customs duty as assessed on a yellow bill of entry Bill of Entry for Housing and paid on the value listed on the green bill of entry Bill of Entry for Ex Bond Clearance will not be the same. Other non EDI Documents   If a Bill of Entry is filed without using the Electronic Data Interchange system, the following documents are also generally required Signed invoice. Packing list. Bill of lading or delivery orderair waybill. GATT declaration form. ImporterCHA declaration. Import license wherever necessary. Letter of creditbank draft. Insurance document. Industrial license, if required. Test report in case of chemicals. Adhoc exemption order. DEEC BookDEPB in original, where applicable. Catalogue, technical write up, literature in case of machineries, spares or chemicals as may be applicable. Separately split up value of spares, components, and machinery. Certificate of Origin, if preferential rate of duty is claimed RELATED India Implements WTOs TFA Boost to Trade Linkages, Ease of Doing Business. Import Duties The Indian government levies several types of import duties on goods. These include Basic Customs Duty Basic Customs Duty BCD is the standard tax rate applied to goods, or the standard preferential rate in the case of goods imported from specified countries. The rates of customs duties are outlined in the First and Second Schedules of the Customs Tariff Act, 1. The First Schedule specifies rates of import duty and the Second specifies rates of export duty. BCD is divided into standard and preferential rates, with goods imported from countries holding trade agreements with the Indian central government eligible for lower preferential rates. Additional Customs Duty Countervailing DutyCountervailing duty CVD is equal to central excise duty and is levied on imported articles produced in India. With CVD, the process of production amounts to manufacture as it is defined in the Central Excise Act, 1. CVD is based on the aggregate value of goods including landing charges and BCD. An additional CVD may be levied equivalent to sales tax or VAT, not exceeding four percent. This duty can be refunded if the importer pays all customs duties, the sales invoice indicates the credit is not allowed, and the importer pays VATsales tax on the sale of the good. Other CVDs may be imposed on specific imported goods to neutralize the effect of a subsidy in the country of origin. A notification issued by the central government on these specified goods is valid for five years and potentially subject to further extension not exceeding ten years. Subsidies related to research activities, assistance to disadvantaged regions in the destination country, and assistance in adapting existing facilities to new environmental requirements are exempt. Anti Dumping Duty. The central government may impose an anti dumping duty if it determines a good is being imported at below fair market price, and an importer will be notified if this is the case. The duty cannot exceed the difference between the export and normal price margin of dumping. This does not apply to goods imported by 1. Export Oriented Units EOU and units in Free Trade Zones FTZs and Special Economic Zones SEZs. If an importer is notified by the central government then an Anti Dumping duty is to be imposed, the notification will remain valid for five years with the possibility of being extended to 1.