Export and Import policies of Fisheries Sector
Exim policy
The exim policy of Foreign Trade Policy is a set of guidelines and instructions
established by the DGFT(Directorate General of foreign trade) in matters
related to the import and export of goods in India. and is regulated by the
Foreign Trade Development and Regulation Act, 1992.
DGFT is the main governing body in matters related to Exim Policy. The main
objective of this Act is to provide the development and regulation of foreign
trade by facilitating imports into, and augmenting exports from India, thereby
creating favourable balance of payment positions. This Act has replaced the
earlier law known as the imports and Exports (Control) Act 1947.
Indian EXIM Policy contains various policy related decisions taken by the
Government in the sphere of foreign trade, i.e., with respect to imports and
exports from the country and more specifically, export promotion measures,
policies and procedures related thereto. Trade Policy is prepared and
announced by the Central Government (Ministry of Commerce).
Promotional Measures of Exim Policy 2004-2009
- Commodity Boards
- Marine Products Export Development authority
- Agricultural & Processed Food Products Export Development Authority
- Indian Institute of Foreign Trade
- India Trade Promotion Organization (ITPO)
- National Centre for Trade Information (NCTI)
- Export Credit Guarantee Corporation (ECGC)
- Export-Import Bank
- Export Inspection Council
- Indian Council of Arbitration
- Federation of Indian Export Organizations
- Department of Commercial Intelligence and Statistics
- Directorate General of Shipping
- Freight Investigation Bureau
.Duty Exemption / Remission Schemes of Exim Policy
The Duty Exemption Scheme enables import of inputs required for export
production. It includes the following exemptions.
Duty Drawback:- The Duty Drawback Scheme is administered by the
Directorate of Drawback, Ministry of Finance. Under Duty Drawback scheme,
an exporter is entitled to claim Indian Customs Duty paid on the imported
goods and Central Excise Duty paid on indigenous raw materials or
components.
Excise Duty Refund:- Excise Duty is a tax imposed by the Central
Government on goods manufactured in India. Excise duty is collected at
source, i.e., before removal of goods from the factory premises. Export goods
are totally exempted from central excise duty.
Octroi Exemption:- Octroi is a duty paid on manufactured goods, when they
enter the municipal limits of a city or a town. However, export goods are
exempted from Octroi.
Duty Remission Scheme: It enables post export replenishment/remission of
duty on inputs used in the export product.
Duty Entitlement Pass Book (DEPB)
The objective of DEPB Scheme is to neutralize the incidence of basic custom
duty on the import content of the exported products.
Duty free Replenishment certificate(DFRC)
Under this scheme, import incentives are given to the exporter for the import
of inputs used in the manufacture of goods without payment of basic customs
duty. Duty Free Replenishment Certificate (DFRC) shall be available for
exports only up to 30.04.2006 and from 01.05.2006 this scheme is being
replaced by the Duty Free Import Authorization (DFIA)
Duty Free Import Authorisation(DFIA)
Effective from 1st May, 2006, Duty Free Import Authorisation is issued to allow
duty free import of inputs which are used in the manufacture of the export
product (making normal allowance for wastage), and fuel, energy, catalyst
etc., which are consumed or utilized in the course of their use to obtain the
export product. Duty Free Import Authorisation is issued on the basis of
inputs and export items given under Standard Input and Output Norms(SION).
Export Promotion Capital Goods Scheme (EPCG) of Exim Policy 2004- 2009
Introduced in the EXIM policy of 1992-97, Export Promotion Capital Goods
Scheme(EPCG) enables exporters to import machinery and other capital
goods for export production at concessional or no customs duties at all. This
facility is subject to export obligation, i.e., the exporter is required to guarantee
exports of certain minimum value, which is in multiple of total value of capital
goods imported.
Capital goods imported under EPCG Scheme are subject to actual user
condition and the same cannot be transferred / sold till the fulfillment of export
obligation specified in the licence. In order to ensure that the capital goods
imported under EPCG Scheme, the licence holder is required to produce
certificate from the jurisdictional Central Excise Authority(CEA) or Chartered
Engineer(CE) confirming installation of such capital goods in the declared
premises.
Promotional Measures of Exim Policy 2004-2009
The Government of India has set up several institutions whose main functions
are to help an exporter in his work. It would be advisable for an exporter to
acquaint him with these institutions and the nature of help that they can
provide so that he can initially contact them and have a clear picture of what
help he can expect of the organized sources in his export effort. Some of
these institutions are as follows.
- Export Promotion Councils- Commodity Boards
- Marine Products Export Development authority
- Agricultural & Processed Food Products Export Development Authority
- Indian Institute of Foreign Trade
- India Trade Promotion Organization (ITPO)
- National Centre for Trade Information (NCTI)
- Export Credit Guarantee Corporation (ECGC)
- Export-Import Bank
- Export Inspection Council
- Indian Council of Arbitration
- Federation of Indian Export Organizations
- Department of Commercial Intelligence and Statistics
- Directorate General of Shipping
- Freight Investigation Bureau
.Duty Exemption / Remission Schemes of Exim Policy
The Duty Exemption Scheme enables import of inputs required for export
production. It includes the following exemptions.
Duty Drawback:- The Duty Drawback Scheme is administered by the
Directorate of Drawback, Ministry of Finance. Under Duty Drawback scheme,
an exporter is entitled to claim Indian Customs Duty paid on the imported
goods and Central Excise Duty paid on indigenous raw materials or
components.
Excise Duty Refund:- Excise Duty is a tax imposed by the Central
Government on goods manufactured in India. Excise duty is collected at
source, i.e., before removal of goods from the factory premises. Export goods
are totally exempted from central excise duty.
Octroi Exemption:- Octroi is a duty paid on manufactured goods, when they
enter the municipal limits of a city or a town. However, export goods are
exempted from Octroi.
Duty Remission Scheme: It enables post export replenishment/remission of
duty on inputs used in the export product.
Duty Entitlement Pass Book (DEPB)
The objective of DEPB Scheme is to neutralize the incidence of basic custom
duty on the import content of the exported products.
Duty free Replenishment certificate(DFRC)
Under this scheme, import incentives are given to the exporter for the import
of inputs used in the manufacture of goods without payment of basic customs
duty. Duty Free Replenishment Certificate (DFRC) shall be available for
exports only up to 30.04.2006 and from 01.05.2006 this scheme is being
replaced by the Duty Free Import Authorization (DFIA)
Duty Free Import Authorisation(DFIA)
Effective from 1st May, 2006, Duty Free Import Authorisation is issued to allow
duty free import of inputs which are used in the manufacture of the export
product (making normal allowance for wastage), and fuel, energy, catalyst
etc., which are consumed or utilized in the course of their use to obtain the
export product. Duty Free Import Authorisation is issued on the basis of
inputs and export items given under Standard Input and Output Norms(SION).
Export Promotion Capital Goods Scheme (EPCG) of Exim Policy 2004- 2009
Introduced in the EXIM policy of 1992-97, Export Promotion Capital Goods
Scheme(EPCG) enables exporters to import machinery and other capital
goods for export production at concessional or no customs duties at all. This
facility is subject to export obligation, i.e., the exporter is required to guarantee
exports of certain minimum value, which is in multiple of total value of capital
goods imported.
Capital goods imported under EPCG Scheme are subject to actual user
condition and the same cannot be transferred / sold till the fulfillment of export
obligation specified in the licence. In order to ensure that the capital goods
imported under EPCG Scheme, the licence holder is required to produce
certificate from the jurisdictional Central Excise Authority(CEA) or Chartered
Engineer(CE) confirming installation of such capital goods in the declared
premises.
