DGFT India: Regulating the Export import Trade of India
Those who are linked Import Export Code Online Registration India export trading are very well aware of the term DGFT India that represent Director General of Foreign Trade, India. Functioning the particular Ministry of Commerce and Industry, it is one amongst the most important authorities, which is solely the reason for framing the policies regarding export and import in India. Promoting export and import related activities a country are one of this major objectives of this organization. To fulfill the purpose it formulates and implements various trading policies and guidelines regarding foreign trade for example – Upload Policy or the Exim Policy, etc.
The DGFT Delhi will be the Zonal Office (North Zone) that has nine Regional offices under its legislation. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of many schemes available as per Export-Import Policy. The prime objective of this department is to promote or facilitate trade related information, and to provide accurate and reliable information in public domain that can be used by numerous trading communities within the country and abroad.
Following is the involving some of the major wings of DGFT India that takes care of man activities related to the department:
Duty Exemption Scheme
Export Promotion Capital Goods
Cash Assistance, Appeal Elizabeth.O. Cell
Drawback
Policy Division
Policy Cell
Policy Research and Analysis
Restricted Import Licensing
Enforcement cum Adjudication
Statistics Division
Human Resources Development
National Informatics Centre-NIC
DGFT Software Technology Parks in India
DGFT Special Economic Zones
DGFT Export Oriented Units (EOUs) in India
Some of this major activities of this authority are usually mandate for import export traders include:
Issue of IEC number – IEC stands for Importer Exporter Code issued by the directorate, which is a primary desire for any company or venture capitalist wanting to do foreign trade in The indian subcontinent. The IEC code can be obtained from the regional offices by applying through post or by using an online application form. One in addition be check for his/her application status on the website of DGFT.
It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is from the numerical code assigned to several products and commodities for import export trading. This code is suggested while shipping commodities from one country to another. In short it is really a particular number assigned to a particular products used for describing goods in the import export trading place.
It issues new trading policies and updates the existing ones- It lays over the required framework upon which traders and firms pursue cross border trading. Most of the policies and guidelines related to import export trading are framed by this board. Besides this, in addition, it regulates the trade by imposing guidelines.
Whenever the Directorate makes any new amendment or introduces fresh new clause to the preexisting policy, the amendment notification is flashed within internet too. It highly important for a lot of the people in the international trading community to have a tab on all these important cards. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a top export import database site.
