02-05-2012, 03:12 PM
Foreign Trade Policy
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GENERAL PROVISIONS REGARDING IMPORTS AND EXPORTS
Exports and Imports shall be free, except where regulated
free unless regulated by FTP or any other law in force. The item wise export and
import policy shall be, as specified in ITC (HS) notified
by DGFT, as amended from time to time.
Import of rough diamond from Cote d’Ivoire shall be
prohibited in compliance to Paragraph 6 of UN Security
Council Resolution (UNSCR) 1643(2005).
The import/export of rough diamond (HS Code 710210,
710221 or 710231) from / to Venezuela shall be prohibited
in view of voluntary separation of Venezuela from the
Kimberley Process Certification Scheme (KPCS). No
Kimberley Process Certificate shall be accepted / endorsed/
issued for import and export of rough diamonds from / to
Venezuela.
SERVED FROM INDIA SCHEME (SFIS)
Objective is to accelerate growth in export of services so
as to create a powerful and unique ‘Served From India’
brand, instantly recognized and respected world over.
All Indian Service Providers, of services listed in
Appendix 1 0 of HBPv1, who have free foreign exchange
earning of at least Rs. 10 Lakhs in preceding financial
year / current financial year shall qualify for Duty Credit
Scrip.
DEFINITIONS
For purpose of FTP, unless context otherwise requires,
following words and expressions shall have the following
meanings attached to them.
“Accessory” or “Attachment” means a part, sub-assembly
or assembly that contributes to efficiency or effectiveness
of a piece of equipment without changing its basic
functions.
“Act” means Foreign Trade (Development and Regulation)
Act, 1992 (No.22 of 1992) [FT(D&R) Act].
“Actual User” means an actual user who may be either
industrial or non-industrial.