Export Import News 21.10.19
WTO
1. New rules of origin initiative to help firms better utilize trade
preferences
The World Trade Organization is partnering with
the International Trade Centre (ITC) and World Customs Organization (WCO) in an
initiative which will enable firms to take fuller advantages of benefits under
free trade agreements and preferential trade arrangements by helping them
comply with product rules of origin requirements.
We have also advised
in our last video that applying GSP certificate is now on line at DGFT site.
DGFT
2.
Regarding
import of flag
DGFT has issued Notification No. 24/2015-2020 on 11.10.15
regarding
Import of Indian National Flag not adhering to the specifications prescribed under Part - I, Section 1.2 or Flag Code of India, 2002 is prohibited
Import of Indian National Flag not adhering to the specifications prescribed under Part - I, Section 1.2 or Flag Code of India, 2002 is prohibited
3.
DGFT: Import
policy of Urea is free now.
DGFT has issued notification No.23 dated 11.10.19 about Import policy for Urea for industrial or non-agricultural shall be "free" with immediate effect the same can be imported through Rashtriya Chemicals & Fertilizers (RCF)
Ministry of Finance Revenue department
4. Antidumping
duty on flat rolled products of steel
Ministry of Finance Revenue department has
issued NOTIFICATION No. 40/2019-CUSTOMS (ADD) on 15.10.19 About anti-dumping duty imposed on Flat
rolled product of steel, plated or coated with alloy of Aluminium and Zinc,
imported from China, Vietnam and Korea due to :
i)
Goods are exported to India below their normal
values.;
(ii) The domestic industry has suffered material
injury;
5.
Onion
MMTC’s 2,000 ton onion
import tender fails to draw bids
After prices went up to
Rs.80/- (Euro 1.02) per kg in domestic retail market, Govt run MMTC called
tender for import of 2,000 tons of onion from any country. There were
no bidders in MMTC's tender
"The objective of the
tender was to control prices (of onion). Now that the new crop from Karnataka
has started arriving in the market, prices are almost under control. So, the
failure to draw bids wouldn't matter much.
6.
Flipkart: Fresh groceries via Farmermart
A commerce ministry official
told Reuters that
The Indian government is
looking into whether hefty discounts offered on Walmart-owned Flipkart and
Amazon.com during their online festive sales violate foreign investment rules,
7.
ICC has
published INCOTERM 2020 With the new rules set to come into force from
1st January 2020
With the new
rules set to come into force from 1st January
2020, exporter, importers, shipping, logistics, supply chain and freight
professionals need to refresh their knowledge now if they want to be able to
use the Incoterms® 2020 confidently and without errors, to avoid costly
mistake.
- Updates to the FCA rule regarding bills of lading
- Updates to the levels of insurance coverage required in CIF and CIP
- Renaming of the DAT rule to make it more fit for purpose
