Home India Ministry of Commerce and Industry In exercise of powers conferred by Section 3 of FT D and R A...
Date: 2020-01-08 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred by Section 3 of FT D and R Act

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

Executive Summary: This notification amends the import policy for desiccated coconut under HS code 0801 11 00 of Chapter 8 of ITC HS, 2017, Schedule I Import Policy. It incorporates a policy condition based on the CIF value per kilogram. The notification was issued on January 8, 2020, by the Directorate General of Foreign Trade, Ministry of Commerce and Industry. Key Points / Main Content: * **Amendment:** The import policy of desiccated coconut is amended. * **HS Code:** The amendment applies to HS code 0801 11 00. * **Import Policy:** * Desiccated coconut with a CIF value of Rs. 150 or more per kilogram: Free. * Desiccated coconut with a CIF value of less than Rs. 150 per kilogram: Prohibited. Impact Analysis: * Importers: * Impact: Importers of desiccated coconut will be affected by the revised import policy based on CIF value. * Action Required: Importers need to assess the CIF value of their desiccated coconut imports to determine if they are free or prohibited. * Directorate General of Foreign Trade: * Impact: Responsible for implementing and enforcing the amended import policy. * Action Required: Ensure the updated policy is effectively communicated and enforced. * Ministry of Commerce and Industry: * Impact: Oversees the amended import policy. * Action Required: Monitor the impact of the policy on trade and industry.

Key Entities Referenced

ITC HS, 2017, ScheduleI Import Policy: Indian Trade Classification based on Harmonized System of Coding, 2017, Schedule I Import Policy, which defines the import policies for goods. HS code 0801 11 00: The Harmonized System code for desiccated coconuts, used for import and export classification. Foreign Trade Policy, 2015-2020: The Foreign Trade Policy spanning from 2015 to 2020, outlining guidelines and objectives for foreign trade. FTDR Act, 1992: The Foreign Trade (Development and Regulation) Act, 1992, which empowers the government to regulate foreign trade. Directorate General of Foreign Trade: The government agency responsible for implementing and regulating foreign trade policies in India. Amit Yadav: Director General of Foreign Trade and Ex-officio Additional Secretary. Ministry of Commerce and Industry: The Indian government ministry responsible for formulating and implementing policies related to commerce and industry. New Delhi: Capital of India and location of publication, New Delhi
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