IMPORTS Import Licencing Policy:ITC(HS) classification: 1. Open General Licence (OGL) no licence required 2.

2. Restricted or Negative List Licence required Fire arms, ammunitions: currency paper; seeds, plants, animals; Aircrafts & helicopters, raw silk, cotton yarn and natural rubber 3. Canalised - Release Order required Crude oil, furnace oil High speed diesel, Aviation Turbine Fuel; cereals, Coconut Oil 4. Prohibited Not allowed to be imported Wild animals Import of Capital Goods OGL Duty Exemption Scheme e.g EPCG Import of Raw Materials Duty Exemption Schemes DFIA Duty Remission Schemes DEPB, DEEC Import of Capital Goods OGL Duty Exemption Scheme e.g EPCG

Import of Raw Materials Duty Exemption Schemes DFIA Duty Remission Schemes DEPB, DEEC International Classification developed by Customs Co-operation Council, Brussels Products arranged in 98 chapters, 21 sections- used by Customs, DGFT, DGCIS Advantages: Collation of statistics Easy comparison of duty Uniformity in classification Classification & Evaluation to Duty Customs Act, 1962 Customs Tariff Act, 1975. Section 12 According to Section 46, date of presentation of B/E or date of ships final entry in the Import Department Import Duties are called as Tariff Barriers Duties: (Specified in the First Schedule) Basic - Standard or Preferential Additional Duty (AD) to neutralise Excise Duty Special Additional Duty (SAD) to neutralise Sales Tax Education Cess Safeguard Duties Countervailing Duties Anti-Dumping duties Specific Rate of Duty Ad Valorem: e.g 20% on A.V

Declared/Invoice/Published/determined Value Customs Valuation (Determination and Prices of Imported Goods) Rules,1988 Specific and Ad valorem Based on value subject to a maximum amount per unit e.g 15% or Rs 27 per sq.m whichever is higher on saree, lungi, shirting fabrics Licensed by customs Help exporters & Importers to do custom clearance File shipping bill, get clearance to load cargo File bill of entry, get assessment done, pay custom duty (after collecting from importer) Arrange transportation of goods from factory to port or port to factory as required. Import General Manifest (IGM) filed by Shipping/Airline Agent Appointment of Custom House Agent (CHA) or Self clearance by Importer Importer gets delivery order from Shipping Agent Importer files Bill of Entry+other dox

Home Consumption B/E Into Bond B/E: Warehousing into Bond Will involve storage charges Ex-Bond B/E: Clearance from Bond after payment of duty Second Check Customs duty is assessed Licence debited and audited Duty Paid Cargo inspected & out of charge Cargo cleared First Check Cargo Inspected Customs Duty is assessed Licence debited and audited Duty Paid & out of charge Cargo cleared Exporters Commercial Invoice Bank Attested Copy of the L/C, if applicable Packing List B/L or AWB along with DO from carrier Import Licence, if applicable Insurance Policy Certificate of Origin Catalogue or Product data Sheet Phytosanitary certificate, if applicable. (Wooden pallets have to be heat treated or fumigated.)

 Domestic Mfrs, with more than 25% of total domestic production, should file a petition Petition to establish Normal price Export Price Injury to domestic industry Causal link The investigation must show that: there is dumping by the exporting producers in the country/countries concerned material injury has been suffered by the Community industry concerned there is a causal link between the dumping and injury found the imposition of measures is not against the Community interest. Where an article is exported from any country to India at less than its normal value then, upon the importation of such article to India, the central Govt. may, by notification in the official gazette, impose an anti dumping duty not exceeding the margin of dumping in relation to such article. Directorate of Anti-Dumping Duties is empowered to determine injury to the domestic industry and to identify, assess and collect Anti-Dumping Duty on dumped articles. Anti Dumping duty is Equal to or less than the dumping margin Consistent with WTO Mfr or country specific Subject to appeal and review levied on top of all other duties Short term measure 5 years; sunset review