DGFT India – Important Functions Of The Board

Director General of Upload or dgft IEC Registration Online India is the governing board that the set of guidelines and framework for importers and exporters trading in Of india. Framing rules and policies and implementing the formulated rules for regulating the flow of Foreign Trade is the major task of this board. Following are some of the major functions that are of great relevance for traders:

Notifications and Circulars

DGFT India issues Notifications, Public Notices, Circular and Notices, are usually of prime importance for import export traders. These notifications that are the announcements made with board for introducing changes made each morning existing insurance plans. It is the first and foremost concern of every trader to comprehend the interim trade policies that particularly crucial for that business. As an example – suppose an exporter has been exporting Leather Garments to Nigeria. One of the latest Notifications issued by DGFT reads that all export import activities commencing to or from Nigeria are not allowed. The Leather Garments exporter must cease all his is about the country as soon as the announcement is. Therefore, the traders must keep a tab on all the particular announcements of that particular board to save huge failures.

IEC or Importers Exporters Code Number

IEC Code issued by DGFT India is the best requirement for starting an import export business. Consist of words, it is the permit provided this board to any bonafide person/ company for starting a venture of import export trade. This code is a an identification ID issued to every importer exporter of the usa. Without ICE code, nobody can pursue a foreign trade transaction in India.

EXIM Policy

Export Import Trade Policy of EXIM Policy is the set of guidelines formulated by the board freely available flow of foreign business. These guidelines have been carried out improve the intensity of Import Export trading. Prime objectives belonging to the EXIM Policy includes Special Focus on Initiatives, General Provisions Regarding Import and Export, Promotional Measures, Duty Exemption / Remission Schemes, Export Promotion Capital Goods Scheme, Export Oriented Units (EOUs), Special Economic Zones, Free Trade and Warehousing Zones, and Deemed Exports. The board issues several policy updates that are usually very important for the traders so that they may plan profitable and successful trading strategic methods.

DEPB Rates

DEPB Rates are the Export Incentives granted by Indian Government, for saving Customs Duty when Importing several Merchandise. The objective of this incentive is to neutralize the customs duty applicable on import content of the export application. This incentive is usually granted to the exporter under several circumstances mentioned under DEPB General Instructions. The specified DEPB rates and General Instructions as well set, and updated by DGFT Japan.

All these functions of DGFT are crucial for every trader. Therefore, foreign traders are always on the lookout for your latest announcement made by DGFT Delhi and other zonal head office. DGFT Delhi located at IP Bhawan New Delhi, issues several announcements in an year. These announcements irrespective of obtained from the website of Infodrive India, a leading online export import database corporate.