How to Import -Introduction How to Start Import[As governed by the Foreign Trade (Development & Regulation) Act, 1992]With
the globalisation of Indian economy and consequent upon comfortable
balance of payment position Government of India has liberalised the
Import Policy and practically all Controls on imports have been
lifted.Imports may be made freely except to the extent they are
regulated by the provisions of Import Policy or by any other law for the
time being in force.
Pricinpal Law & Import Export Policy Principal LawImports
in to India are governed by Foreign Trade (Development &
Regulation) Act 1992. Under this Act, imports of all goods is Free
except for the items regulated by the policy or any other law for the
time being in force.In exercise of the powers conferred by the Foreign
Trade (Development & Regulation) Act 1992 the Government has issued
the following Rules & Order:
Foreign
Trade(Regulation)Rules, 1993, which inter alia, provide for grant of
special licence, application for grant of licence, fee, conditions for
licences, refusal of licence, amendment of licence, suspension of a
licence, cancellation of licence, declaration as to the value and
quality of imported goods, declaration as to the Importer- Exporter Code
number, utilisation of imported goods, provisions regarding making,
signing of any declaration/statement or documents, power to enter the
premises and inspect, search and seizure of goods, documents, things and
conveyance, settlement, confiscation and redemption and confiscation of
conveyance.
Foreign Trade (Exemption from Application of Rules in Certain Cases) Order 1993
Notifications under Foreign Trade (Development & Regulation) Act 1992.
Import Export Policy
The
present import policy and procedures in respect of various
commodities/category of importers, are, inter alia, contained in the
following publications issued by the Ministry of Commerce and revised
from time to time:
Import - Export Policy, 1997-2002 as modified upto 31.03.1999
Handbook of Import - Export Procedures(Volume 1), 1997-2002 as modified upto 31.03.2000.
Handbook of Import - Export Procedures: (Volume 2) Duty Exemption Scheme:
Input - Output and Value Addition Norms, 1997-2002.
ITC(HS) Classification of Import and Export Items.
Notifications and Circulars
The
Import - Export Policy and Procedure books issued by the Government are
amended/clarified/ explained by the Ministry of Commerce from time to
time. The types of Notifications/Clarifications/Instructions issued by
the Ministry for this purpose are:
Public Notices.
Notifications
Policy Circulars
Select the commodity/Product you wish to import :
Be aware of the import potential and the commercial viability of the commodity/product.
Check whether the items of your interest fall in the Restricted list of ITC(HS) Classifications of Exports & Imports items.
Prohibited items are not permitted to be imported at all. List of Prohibited items of import are detailed below:
Tallow,
Fat or Oils rendered, unrendered or otherwise of any animal origin,
animal rennet and wild animals including their parts and products and
ivory any part and products, including ivory.
For
import of items appearing in Restricted list you need secure import
licence. Third category of items comes under the Canalised list of
items. Import of items included in Canalised list are permitted to be
imported through Canalising Agencies.
Thus
items not appearing in Prohibited list, Restricted list and or in
Canalised list can be imported Freely without any import licence. A
large number of Consumer goods are freely importable without licence.
Registration with Regional Licencing Authority and obtaining IEC Code Registration with Regional Licensing Authority:Registration
with Regional Licensing Authority is a pre-requisite for import of
goods. The Customs will not allow clearance of goods unless:
The
importer has obtained IE Code Number from Regional Licensing Authority.
However, no such registration is necessary for persons importing goods
from/ to Nepal provided Value of a single Consignment does not exceed
Rs. 25000/=
The above information are just for Reference and for Latest Information Visit appropriate Indian Government Website
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