What Are The Function Of DGFT?

The Directorate General of Foreign Trade (DGFT), originally known as the Chief Controller of Imports and Exports (CCI&E), is India's official import and export administration agency. It is an affiliated office of the Ministry of Commerce, with its headquarters in New Delhi. The DGFT Consultant in Pune is in charge of putting the Forei into action.

The Advance Authorization Scheme permits duty-free import of inputs that are physically integrated into an export product. In addition to any inputs, packing material, gasoline, oil, and catalyst that is used  employed in the process of export product manufacturing are permitted.

The number of inputs permitted for a certain product is determined by specific criteria established for that export product, which take into account waste created during the production process. The DGFT provides a sector-specific set of Standard Input-Output Norms (SION) that exporters may choose to follow. Alternatively, exporters may seek for their own ad hoc standards if the SION does not meet their needs.

 Functions of DGFT

• Developing and implementing various trade policies, notably the Foreign Trade Policy.
• Promotional strategies must be designed and implemented.
• Conducting policy research and analysis
• Import and export licensing
• Exports and imports should be regulated, restricted, or prohibited.
• Advising the government on policy actions relating to national and international economic issues.
• Establish and maintain standard input and output norms.
• Import Export Code (IEC) numbers are assigned to importers and exporters.
• To distribute the Tariff Rate Quota.
• Assisting states in developing export infrastructure.

Digital Signature for Foreign Trade (DGFT Consultant in Pune) has now made it simple for Export and Import Organizations to make the greatest use of Digital Signature Certificates for document authentication. DGFT has a separate DGFT portal where you may upload electronic documents all in one location.

Original Source Content - https://blog.storymirror.com/read/p_f6yc5l/what-are-the-function-of-dgft

Where To Find Effective Solutions Of Imports And Exports In Mumbai?

 Import and export is a very interesting job but it includes severe risks as if the products get stuck while importing or exporting then it can create a huge impact thus the help of professional is required. Thus, Sohamma International Private Limited here has the experienced DGFT Consultant in Mumbai who offers the right solutions as per the issues of the people that too at affordable prices.

What is DGFT?

It is known as Directorate General of Foreign Trade, an agency of the Ministry of Commerce and Industry of the Government of India. It is responsible for administering laws related to foreign trade and foreign investment in India.

We provide all the services of consultancy to more than 200 small, medium, and large-scale organizations which is a big deal and surely tell that we are at the top in providing the effective solutions of import and export.

The DGFT Consultant in Mumbai has a team of highly experienced professionals has been solving the issues of the people for years. They are highly educated and understand the issues of the people thoroughly; on the basis of these things they tell the right way or right solutions to the clients.

Mr. Ramesh Manohar Chavan is our head and founder of the company who has more than 26 years of experience in Indirect Taxation. Our company is an ISO 9001-2015 certified company & registered under the MSMED Act 2006.

We aim to deliver the best services to the clients so that they do not get any issues in their dealings and in their personal things as well. We are highly experienced in this domain by following all the rules of industrial guidelines. We have set our benchmark in this domain by providing the quality services that too on each issue related to import or export.

How Does MEIS Consultants Work?

Merchandise Exports from Indian Scheme (in short, also known as MEIS) has been announced by the Government. It not only replaces five similar incentive schemes (Focus Product Scheme (FPS)/ Market Linked Focus Product Scheme (MLFPS)/ Focus Market Scheme (FMS)/ Agri. Infrastructure Incentive Scrip (AIIS)/ VisheshKrishiGraminUdyogYojana (VKGUY), available under the Foreign Trade Policy 2009-2014, but it rationalizes the incentives under the erstwhile Schemes, removes various kinds of restrictions and significantly enlarges the scope of the earlier schemes MEIS Consultants in Mumbai. Unlike earlier Schemes, this scheme has been made applicable to exports made by SEZ units.

 

Salient Features Of The Scheme

• Grants rewards in the form of Duty Credit Scrip to the exporter on export on exports of notified goods, which have been produced/ manufactured in India.
• Rewards for exports of notified goods to notified markets payable as percentage of realized FOB value (in free foreign exchange).
• Scrip itself and Goods imported/domestically Procured against the scrip are freely transferable.
• Certain specified categories of exports or exports goods are not eligible for benefit under the Scheme.
• Scrip can be used for payment of (i) Customs Duties for import of inputs or goods, except items listed in Appendix 3A; (ii) Payment of excise duties on domestic procurement (iii) payment of services tax (iv) Payment of Customs Duty and fee as per paragraph 3.18 of the Policy.
• No conditionality attached to the Scrips issued under the scheme.
• Destination countries divided into three groups- (i) Traditional Market, (ii) emerging & focus market; and (iii) other markets
• Rs.1,000/- ( Rupees one thousand only) is to be deposited towards fee for application for duty credit scrip under rewards/incentive scheme.

We may assist you:-

• To Identify and check eligibility to get the benefits under the scheme.
• In the documentation, preparation of the application, Online filing of application and Coordination with Concerned authorities to get the Duty credit scrip.

 

Realization of the value of the scrip in cash or assistance in the utilization of the scrip for payment of MEIS Consultants In Mumbai Customs Duty /Excise duty/Services tax etc. as the case may be. We may also give a presentation for a better understanding of the scheme.

Original Source Content-

https://www.knowpia.com/s/blog_716ca4a10bee9e43