Home India Ministry of Commerce and Industry In exercise of powers conferred by Section 3 of FT D R Act...
Date: 2018-08-28 Category: Extra Ordinary State: Union Government Country: India

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

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 export policy of biofuels. Published on August 28, 2018, the notification revises the export policy of biofuels under Chapter 27 of ITC HS, 2018, Schedule 2. The amendment aligns the export policy with the National Policy on Biofuels 2018. Key Points / Main Content: * **Policy Amendment:** * The export policy of biofuels is amended from 'Free' to 'Restricted'. * This change is in accordance with the National Policy on Biofuels 2018. * **ITC HS Code Changes:** * New entries are inserted in Chapter 27 of Schedule 2 of ITC HS Classification of Export Import Items, specifically at Sl. No. 115A, 115B, and 115C. * **115A (2207 20 00):** Ethyl alcohol and other spirits, denatured, of any strength. Export is permitted under license only for non-fuel purposes. * **115B (2710 20 00):** Petroleum oils and oils obtained from bituminous minerals (excluding crude) and preparations containing 70% or more petroleum oils or oils from bituminous minerals, containing biodiesel (other than waste oils). Export is permitted under license only for non-fuel purposes. * **115C (3826 00 00):** Biodiesel and mixtures thereof, containing less than 70% petroleum oils and oils obtained from bituminous minerals. Export is permitted under license only for non-fuel purposes. Impact Analysis: * **Biofuel Exporters:** * Impact: Biofuel exporters are now subject to a restricted export policy, requiring them to obtain a license for exporting biofuels for non-fuel purposes. * Action Required: Obtain necessary licenses for biofuel exports intended for non-fuel purposes. * **Directorate General of Foreign Trade (DGFT):** * Impact: DGFT is responsible for implementing and enforcing the revised export policy for biofuels. * Action Required: Enforce the new restricted export policy and process license applications for biofuel exports.

Key Entities Referenced

Foreign Trade Policy 2015-2020: A policy governing foreign trade, referenced in the notification. Foreign Trade (Development and Regulation) Act, 1992: An act of the Indian Parliament that provides for the development and regulation of foreign trade and is referenced as the source of power for the notification. ITC HS 2018: Indian Trade Clarification based on Harmonized System of Coding. It is referenced for export policy of biofuels under Chapter 27. Biofuels: The central subject of the notification, regarding export policy. National Policy on Biofuels 2018: A national policy that guides the revised export policy of biofuels. Ethyl alcohol: Denatured Ethyl alcohol is mentioned in the notification for export policy. Petroleum oils: Petroleum oils are mentioned in the notification for export policy. Alok Vardhan Chaturvedi: Ex officio Additional Secretary, Ministry of Commerce and Industry.
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