Home India Ministry of Commerce and Industry In exercise of powers conferred under paragraph 1 03 of the ...
Date: 2018-12-03 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred under paragraph 1 03 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 public notice from the Directorate General of Foreign Trade announces amendments to Appendix 3B, Table 2 of the Merchandise Exports from India Scheme (MEIS), under the Foreign Trade Policy 2015-2020. It adds and modifies certain HS codes effective from January 1, 2017. These changes pertain to the rates and classifications of exported goods under the MEIS scheme. Key Points / Main Content: Amendments to MEIS Appendix 3B, Table 2: * Authority: The Director General of Foreign Trade is making amendments under paragraph 1.03 of the Foreign Trade Policy 2015-2020. HS Code Addition: * A new HS code is added to the table: * HS Code: 38123100 * Description: Mixtures of oligomers of 2, 2, 4-trimethyl-1, 2-dihydroquinoline (TMQ) * MEIS Rate: Applicable for exports made from January 1, 2017, onwards. HS Code Modifications: * The following HS codes are amended, effective January 1, 2017: * Serial No. 3115: * Current HS Code: 50079000 * Amended HS Code: 50079090 * Serial No. 4284: * Current HS Code: 63049220 * Amended HS Code: 63049229 Corrections: * Corrections have been made to Appendix 3B, Table 2 as notified in Public Notice 61 dated March 7, 2017, and subsequently modified, effective January 1, 2017. Impact Analysis: Exporters: Impact: Exporters dealing with the specified goods will experience changes in MEIS benefits based on the new HS code and rates. Action Required: Review the updated Appendix 3B, Table 2 to understand the revised MEIS rates for their export products and adjust export strategies accordingly. Customs Authorities: Impact: Customs authorities need to implement the updated HS codes for export clearances. Action Required: Update their systems with the new HS codes and ensure correct application of MEIS benefits. Directorate General of Foreign Trade (DGFT): Impact: The DGFT is responsible for implementing and monitoring the changes. Action Required: Disseminate the information to all relevant stakeholders and address any queries or issues arising from the amendments.

Key Entities Referenced

Foreign Trade Policy 2015-2020: A governmental policy related to foreign trade, effective from 2015 to 2020. Directorate General of Foreign Trade: A government organization responsible for foreign trade regulation and promotion. Alok Vardhan Chaturvedi: Director General of Foreign Trade and Ex-Officio Additional Secretary. Merchandise Exports from India Scheme (MEIS): An export promotion scheme by the Indian government. Appendix 3B, Table 2: A table within the Merchandise Exports from India Scheme (MEIS) that lists HS codes and MEIS rates. Public Notice 61 dated 07.03.2017: A previous public notice that is being amended by this current notice. New Delhi: The city where the public notice was issued. HS Code: Harmonized System Code for classifying traded products
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