FATCA Reporting by reporting entities in India
FATCA letters to customers located in India, FATCA Reporting, FATCA, FATCA compliance, FATCA Reporting by reporting entities in India, Foreign Account Tax Compliance Act (FATCA) ...Read More
There are restrictions on imports and exports for various strategic, healths, and other reasons. There can be quantitative and qualitative restrictions on the imports and exports. If the goods are not banned, the government can give a permission/license for specific reasons.
PRINCIPLES OF RESTRICTION:
(a) Defend the public morals (b) Protection of human, animal or plant life or health (c) Protection of patents, trademarks and copyrights and the obstruction of deceptive practices (d) Prevention of prison labor (e) Protection of national riches of artistic, historic or archaeological worth (f) Preservation of exhaustible natural resources (g) Protection of trade of fissionable Substance or material from which they are resulting; and (h) Prevention of traffic in arms, ammunition and trappings of war.
LABELING AND MARKING RULES FOR IMPORTS:
Specifies that MRP, generic name of product, month and year of entry in trade channel, importer name and address and amount in standard units must be carried importantly on the "principle display panel" of the of prepackaged goods for retail sale only.
TECHNICAL STANDARDS FOR QUALITY:
The government has subjected imports of certain products to compulsory compliance of Indian Quality Standards. The foreign manufacturers and exporter are compulsory to register with Bureau of Indian Standards (BIS) to meet the terms with this requirement. Quality Standards are not relevant on imports made under Advance Licenses for physical exports published with authentic user condition. Similarly the imports made for re-export purposes are also exempted from the quality standards.
IMPORT OF SECOND HAND GOODS:
All second hand goods are restricted for imports and may be imported only in accordance with the provisions of the Policy, ITC (HS), Public Notice or a license / certificate / permission issued in this behalf.
The following substances may be imported without a license / certificate / permission IUI
Special Chemicals, Organisms, Materials, Equipments & Technologies (SCOMET) items can be exported/imported from India only against a license issued for this purpose, as per the international bargain for strategic reasons.
AGRICULTURE PERMIT SYSTEM:
The import of agriculture products like Plants / Plant Materials / Fruits / Seeds for Consumption is controlled by the Ministry of Agriculture, by measures of Phyto-sanitary Certificate. The goods upon access into India are subjected to plant quarantine inspection and treatment alongside a fee.
SANITARY IMPORT PERMIT FOR ANIMAL PRODUCTS IMPORTS:
Animal products importers are obliged to fabricate a sanitary permit at the customs gate before entry into the country. Meat and meat products, eggs, milk and milk products, pet food, embryos, ova or semen and other live stock products from livestock are covered.
Restricted goods can be imported / exported through a license or as per procedure in a public notice for this. Restricted item license / certificate / permission may be granted by the Director General of Foreign Trade or any other licensing authority authorized by him in this behalf. The DGFT / Licensing authority may take the assistance and advice of a facilitation committee. The Facilitation Committee consists of representatives of technical authorities and Departments / Ministries concerned
The DGFT / Licensing authority may take the assistance and advice of a facilitation committee. The Facilitation Committee consists of representatives of technical authorities and Departments / Ministries concerned
We can assist you in identifying the feasibility of getting a license, planning, documentation, application preparations, representation and coordination with DGFT and various other ministries and departments, till you finally get the approval/license.
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