Home India Ministry of Commerce and Industry In exercise of powers conferred by Section 3 of FT D R Act 1...
Date: 2017-12-06 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred by Section 3 of FT D R Act 1992 read with paragraph 1 02 and 2 01 of the Foreign Trade Policy

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

Executive Summary: This notification issued by the Directorate General of Foreign Trade, Ministry of Commerce and Industry, amends the import policy condition for pepper classified under Chapter 09 of ITC HS, 2017 Schedule 1. The amendment, effective December 6, 2017, introduces a minimum import price. It was issued in exercise of powers conferred by Section 3 of FT DR Act, 1992. Key Points / Main Content: * **Amendment Overview:** The import policy condition of pepper classified under Chapter 09 of ITC HS, 2017 Schedule 1 is amended. * **Minimum Import Price (MIP):** * Import of pepper under EXIM Codes 0904 11 and 0904 12 00 is subject to a Minimum Import Price (MIP) of Rs. 500 per kilogram on CIF basis. * This applies to various types of pepper, including long pepper, light black pepper, garbled and ungarbled black pepper, dehydrated green pepper, pepper pinheads, frozen or dried green pepper and crushed or ground pepper. Impact Analysis: * **Importers of Pepper:** * Impact: Subject to a minimum import price of Rs. 500 per kilogram (CIF) for pepper classified under EXIM Codes 0904 11 and 0904 12 00. * Action Required: Ensure that the CIF value of imported pepper meets or exceeds the minimum import price of Rs. 500 per kilogram.

Key Entities Referenced

ITC HS, 2017 Schedule1Import Policy: Nomenclature used for classifying goods for import and export, specifically the 2017 version, Schedule 1, pertaining to import policy. Foreign Trade Policy, 2015-2020: The prevailing foreign trade policy of India during the period 2015-2020. Foreign Trade (Development and Regulation) Act, 1992: Indian legislation empowering the Central Government to regulate foreign trade. Chapter 09: Chapter 09 of the ITC HS, 2017 Schedule 1 Import Policy, which classifies pepper. Pepper: The commodity whose import policy is being amended in the notification. Directorate General of Foreign Trade: The Indian government agency responsible for implementing and regulating foreign trade policy. New Delhi: The location where the notification was issued, New Delhi, Delhi. Minimum Import Price (MIP): A price below which imports are not allowed, set at Rs. 500 per kg on CIF basis for pepper.
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