EXPORTS FRAMEWORK POLICY, Apuntes de Derecho Privado Internacional

¡Descarga EXPORTS FRAMEWORK POLICY y más Apuntes en PDF de Derecho Privado Internacional solo en Docsity!

EXPORTSEXPORTS

FRAMEWORK FRAMEWORK

POLICY,SCHEMES POLICY,SCHEMES

AND AND

PROCEDURES PROCEDURES

th November 2010

Taxes and Duties

 (^) Central: Basic customs duty, additional Customs duty, special additional duty, education surcharge, service tax ,CST.  (^) State: VAT, Electricity duty, Octroi, Mandi Tax, Turnover tax, Purchase tax, Luxary Tax, Entertainment Tax, Entry Tax in lieu of Octroi.  (^) Export Duty.  GST: CGST,SGST,IGST.

Procedure

 (^) Manufacturer exporter to excise having claim over factory  Others to excise having jurisdiction over regd./head office  (^) Before that STC is alloted to applicant  (^) Claim to be filed within 1 year from export from LEO

Procedure(Contd.)

 (^) No claim less than Rs 500  (^) If claim is upto 0.25% of fob ,document or application to be self certified  (^) If claim is more than 0.25% of fob ,document or application to be CA certified

IEC

Permanent Code issued by DGFT  (^) Application Form  (^) Fee of Rs 250  (^) Copy of PAN  (^) Copy of bankers Certificate  (^) Declarations  (^) Exempted Categories

BIN

Software generated at Customs  Transmission of IEC  (^) 15 digit  (^) PAN FT 001 and so on

Shipping Bill

 (^) Shipping bill for export of goods under claim for duty drawback/DEPB etc.  Shipping Bill for export of dutiable goods.  (^) Shipping Bill for export of duty free goods. (Free or White )  (^) Shipping bill for export of duty free goods ex-bond i.e. from bonded warehouse

Bank Certificate of Exports &

Realisation

 (^) Exports documents to be presented to bank within 21 days  (^) Advance payment and status holders exempted  (^) After negotiation Bank Certificate of exports and subsequent to realisation banks issue BRC  (^) Required for claiming various benefits

ARE 1

Excise document for export clearance prepared in quintuplicate. Bears running serial number beginning from the first day of the financial year.  (^) Original White  (^) Duplicate Buff  (^) Triplicate Pink  (^) Quadruplicate Green  (^) Quintuplicate Blue

MATE RECEIPT

 (^) An acknowledgement of cargo receipt signed by a mate of the vessel.  The possessor of the mate's receipt is entitled to the bill of lading, in exchange for that receipt.

BOL

 (^) Receipt signed by the carrier confirming goods matching the contract description have been received in good condition  (^) A document of transfer, being freely transferable but not negotiable instrument  (^) It governs all the legal aspects of physical carriage and like a cheque or other negotiable instrument may be endorsed

Straight /Order BOL

 (^) A straight bill of lading is a non- negotiable document, made out to a specifically named consignee  (^) An Order bill of lading is a document that is made out to the order of the foreign importer / its bank/ export firm/ its bank, or another designated party.

FOREIGN TRADE POLICY

Section 5 of Foreign Trade (Development and Regulation) Act, 1992 empowers the Central Government to notify the Exim (FT) Policy. Para 2.4 of Foreign Trade Policy empowers DGFT to notify procedures

FOREIGN TRADE POLICY

Basic objective Basic objective  (^) To double our global share of merchandise and services exports by 2014.  (^) Provide stability to Policy with continuation of Schemes.  (^) Diversify our product and market base.  (^) Reduce transaction time and cost