The import and export of which is prohibited under Foreign Trade Policy and Procedure? How can those items be imported and exported?
CS Executive · Economic, Business and Commercial Laws · PYQS · December 2020
The import and export of which is prohibited under Foreign Trade Policy and Procedure? How can those items be imported and exported?
Answer & Explanation:
Importability/Exportability of items that are prohibited under Foreign Trade Policy and Procedure are as under: No export or import of an item shall be allowed under Advance Authorisation/Duty Free Import Authorisation, if the item is prohibited for exports or imports respectively. Export of a prohibited item may be allowed under Advance Authorisation provided it is separately so notified, subject to the conditions given therein. Items reserved for imports by State Trading Enterprises cannot be imported against Advance Authorisation/DFIA. However those items can be procured from STEs against Advance Release Order (ARO) or Invalidation letter. STEs are also allowed to sell goods on High Sea Sale basis to holders of Advance Authorisation/DFIA holder. State Trading Enterprise are also permitted to issue "No Objection Certificate (NOC)" for import by Advance Authorisation / Duty Free Import Authorisation holder. Authorisation Holder would be required to file Quarterly Returns of imports effected against such NOC to concerned STE and STE would submit half-yearly import figures of such imports to concerned administrative Department for monitoring with a copy endorsed to DGFT. Items reserved for export by STE can be exported under Advance Authorisation/Duty Free Import Authorisation (DFIA) only after obtaining a 'No Objection Certificate' from the concerned STE. Import of restricted items shall be allowed under Advance Authorisation/Duty Free Import Authorisation (DFIA). Export of restricted/Special Chemicals, Organisms, Materials, Equipment and Technology (SCOMET) items however, shall be subject to all conditionalities or requirements of export authorisation or permission, as may be required, under Schedule 2 of ITC (HS).
Topics: Foreign Trade Policy and Procedure
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