DGFT India: Regulating the Import and export Trade of India

Those who are linked import export trading are very well aware of the term dgft IE Code Online Application Procedure India India that brief for Director General of Foreign Trade, India. Functioning the actual Ministry of Commerce and Industry, it is among the most important authorities, which is solely given the task of framing the policies regarding export and import in India. Promoting export and import related activities associated with 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 – Move Policy or the Exim Policy, etc.

The DGFT Delhi may be the Zonal Office (North Zone) that has nine Regional offices under its authority. DGFT Delhi is engaged in providing benefits to the Exporters/Importers by way of numerous 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 areas domain that can simply be used by numerous trading communities within the country and abroad.

Following is the connected with some of the major wings of DGFT India that takes care associated with activities related to the department:

Duty Exemption Scheme

Export Promotion Capital Goods

Cash Assistance, Appeal Ourite.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 that happen to be mandate for import export traders include:

Issue of IEC number – IEC stands for Importer Exporter Code from the directorate, which is often a primary desire for any company or venture capitalist needing to do foreign trade in India. The IEC code can often be obtained over the regional offices by applying through post or through an online application. One additionally be check for his/her application status your website of DGFT.

It maintains and updates HS Code Lists – HS Codes list issued by the Directorate is a distinctive numerical code assigned to several products and commodities for import export trading. This code is suggested while shipping commodities from one country an additional. In short it is really a particular number assigned to particular products employed for describing goods in the import export trading site.

It issues new trading policies and updates the existing ones- It lays along the required framework upon which traders and corporations pursue cross border buying and selling. Most of guidelines and guidelines related to import export trading are framed by this board. Besides this, in addition, it regulates the trade by imposing the policies.

Whenever the Directorate makes any new amendment or introduces a whole clause to any preexisting policy, the amendment notification is flashed by the internet also. It is important for the people today the international trading community to have a tab on all these important bulletins. You can easily get achievable will give you announcements of DGFT India on Infodrive India, a leading export import database net site.