Discuss the general provision regarding export .

Economy Secondary School in Economy 10 months ago

  2   0   0   0   0 tuteeHUB earn credit +10 pts

5 Star Rating 1 Rating

and Imports shall be free, except in cases where they are regulated by the provisions of this Policy or any other law for the time being in FORCE. The item wise export and import policy shall be, as specified in ITC(HS) published and notified by Director General of Foreign Trade, as AMENDED from time to time.Compliance with Laws2.2Every exporter or importer shall comply with the provisions of the Foreign Trade (DEVELOPMENT and Regulation) Act, 1992, the Rules and Orders made thereunder, the provisions of this Policy and the terms and conditions of any licence/certificate/permission granted to him, as well as provisions of any other law for the time being in force. All imported goods shall also be subject to domestic LAWS, Rules, Orders, Regulations, technical specifications, environmental and safety norms as applicable to domestically PRODUCED goods. No import or export of rough diamonds shall be permitted unless the shipment parcel is accompanied by Kimberley Process (KP) Certificate required under the procedure specified by the Gem & Jewellery Export Promotion Council (GJEPC).Interpretation of Policy2.3If any question or doubt arises in respect of the interpretation of any provision contained in this Policy, or regarding the classification of any item in the ITC(HS) or Handbook (Vol.1) or Handbook (Vol.2), or Schedule Of DEPB Rate the said question or doubt shall be referred to the Director General of Foreign Trade whose decision thereon shall be final and binding.If any question or doubt arises whether a licence/ certificate/permission has been issued in accordance with this Policy or if any question or doubt arises touching upon the scope and content of such documents, the same shall be referred to the Director General of Foreign Trade whose decision thereon shall be final and binding.Procedure2.4The Director General of Foreign Trade may, in any case or class of cases, specify the procedure to be followed by an exporter or importer or by any licensing or any other competent authority for the purpose of implementing the provisions of the Act, the Rules and the Orders made thereunder and this Policy. Such procedures shall be included in the Handbook (Vol.1), Handbook (Vol.2), Schedule of DEPB Rate and in ITC(HS) and published by means of a Public Notice. Such procedures may, in like manner, be amended from time to time.The Handbook (Vol.1) is a supplement to the Foreign Trade Policy and contains relevant procedures and other details. The procedure of availing benefits under various schemes of the Policy are given in the Handbook (Vol.1).Exemption from Policy/ Procedure2.5Any request for relaxation of the provisions of this Policy or of any procedure, on the ground that there is genuine hardship to the applicant or that a strict application of the Policy or the procedure is likely to have an adverse impact on trade, may be made to the Director General of Foreign Trade for such relief as may be necessary. The Director General of Foreign Trade may pass such orders or grant such relaxation or relief, as he may deem fit and proper.The Director General of Foreign Trade may, in public interest, exempt any person or class or category of persons from any provision of this Policy or any procedure and may, while granting such exemption, impose such conditions as he may deem fit. Such request may be considered only after consulting Advance Licensing Committee (ALC) if the request is in respect of a provision of Chapter-4 (excluding any provision relating to Gem & Jewellery sector) of the Policy/ Procedure. However, any such request in respect of a provision other than Chapter-4 and Gem & Jewellery sector as given above may be considered only after consulting Policy Relaxation Committee.Principles of Restriction2.6DGFT may, through a notification, adopt and enforce any measure necessary for:-  iProtection of public morals.  iiProtection of human, animal or plant life or health.  iiiProtection of patents, trademarks and copyrights and the prevention of deceptive practices.  ivPrevention of use of prison labour.  vProtection of national treasures of artistic, historic or archaeological value.  viConservation of exhaustible natural resources.  viiProtection of trade of fissionable material or material from which they are derived; and  viiiPrevention of traffic in arms, ammunition and implements of war.      Restricted Goods2.7Any goods, the export or import of which is restricted under ITC(HS) may be exported or imported only in accordance with a licence/ certificate/ permission or a public notice issued in this behalf.

Posted on 25 Sep 2024, this text provides information on Economy related to Secondary School in Economy. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

Take Quiz To Earn Credits!

Turn Your Knowledge into Earnings.

tuteehub_quiz

Tuteehub forum answer Answers

Post Answer

No matter what stage you're at in your education or career, TuteeHub will help you reach the next level that you're aiming for. Simply,Choose a subject/topic and get started in self-paced practice sessions to improve your knowledge and scores.