Foreign trade development and regulation act 1992 pdf
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- Foreign Trade (Development and Regulation) Act, 1992
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- Foreign Trade (Development and Regulation) Act 1992 Bare Act PDF download
Updated on Jan 05, - PM. Export is one of the major components of international trade. Exports facilitate international trade and stimulate domestic economic activity by creating employment, production, and revenues.
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Short title and commencement 2. Definitions 3. Powers to make provisions relating to imports and exports 4. Continuance of existing Orders 5. Foreign Trade Policy.
It also aims to impose Quantitative Restrictions and to bring in provisions for more stringent control for trade of dual-use goods and technologies. However, the effective date of the provisions would be notified separately. The penalty provisions under the Act proposed to be amended so as to impose the penalty on contravention of any of the provisions of the Act or rule in so far the same are applicable for services or technology;. A new Chapter to be introduced in the Act so as to grant the Central Government a power to impose quantitative restrictions on import of any goods into India, in case the goods are coming into India in such increased quantities which may cause injury to domestic industry. The quantitative restrictions imposed shall, unless revoked earlier, cease to have effect on the expiry of four years from the date of such imposition;. The Weapons of Mass Destruction and their Delivery Systems Prohibition of Unlawful Activities Act, , is to be applicable on export, transfers, re transfers, brought in transit, transshipment of and brokering of specified goods, services and technology;. No person shall export any material, equipment or technology knowing that the same is to be used in the design or manufacture of a biological weapon, chemical weapon, nuclear weapon or other nuclear explosive device or in their missile delivery system.
Exports and Imports are regulated by Foreign Trade Policy notified by Central government in exercise of powers conferred by section 5 of foreign trade Development and Regulation Act Presently Foreign Trade Policy is effective from 1 st April, Export in itself is a very wide concept and lot of preparations is required by an exporter before starting an export business. To start export business, the following steps may be followed:. A current account with a Bank authorized to deal in Foreign Exchange should be opened. After studying the trends of export of different products from India proper selection of the product s to be exported may be made. An overseas market should be selected after research covering market size, competition, quality requirements, payment terms etc.
Foreign Trade (Development and Regulation) Act, 1992
In section 2 of the Foreign Trade Development and Regulation Act, 22 of herein after referred to as the principal Act , - a for clause e following shall be substituted, namely:, e import and export means, - I in relation to goods, bringing into, or taking out of, India any goods by land, sea or air; II in relation to services or technology, - supplying, services or technology- A from the territory of another country into the territory of India. B in the territory of another country to an Indian service consumer; C by a service supplier of another country, through commercial presence in India; D by a service supplier of another country, through presence of their natural persons in India; supplying, services or technology - A from India into the territory of any other country; B in India to the service consumer of any other country; C by a service supplier of India, through commercial presence in the territory of any other country D by a service supplier of India, through presence of Indian natural persons in the territory of any other country; Provided that import and export in relation to the goods, services and technology regarding Speci In section 3 of the Principal Act, - a in sub-section 2 , - i for the words import or export of goods the words import or export of goods or services or technology shall be substituted; ii after sub-section 2 , the following proviso shall be inserted, namely: - Provided that the provisions of this sub-section shall be applicable, in case of import or export of services or technology, only when the service or technology provider is availing benefit under the foreign trade policy or is dealing with specified services or specified technologies. Substitution of new section for section 5 5. For section 5 of the principal Act, the following section Amendment of section 9 9.
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In exercise of the powers conferred by clause a of sub-section 1 , sub-section 3 of Section 7 and sub-section 2 of Section 47 of the Foreign Exchange Management Act, 42 of and in supersession of its Notification No. Authority to whom declaration is to be furnished and the manner of dealing with the declaration The triplicate shall be retained by the designated official for record. On the realisation of the export proceeds, the duplicate copies of export declaration forms viz. The Commissioner of Customs or the postal authority or the official of Department of Electronics, to whom the declaration form is submitted, may, in order to satisfy themselves of due compliance with Section 7 of the Act and these regulations, require such evidence in support of the declaration as may establish that —. For the purpose of this regulation, 'final place of destination' means a place in a country in which the goods are ultimately imported and cleared through Customs of that country.
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Imports and exports are considered to be two important components of foreign trade. Foreign trade refers to nothing but the exchange of the goods and services between two or more countries, across their respective international borders. The former implies the physical movement of the goods into a country from another country following a legal manner.
The main objective of the Foreign Trade Development and Regulation Act is to provide the development and regulation of foreign trade by facilitating imports into, and augmenting exports from India. India's Export Import Policy also know as Foreign Trade Policy, in general, aims at developing export potential, improving export performance, encouraging foreign trade and creating favorable balance of payments position. In the year , the Government of India appointed a special Exim Policy Committee to review the government previous export import policies. The committee was later on approved by the Government of India. Initially the EXIM Policy was introduced for the period of three years with main objective to boost the export business in India.
Powers to make provisions relating to imports and exports. Continuance of existing Orders. Export and import policy.
Он до самой смерти боролся за то, во что верил, - за право личности на неприкосновенность частной жизни. Внизу по-прежнему завывала сирена.
Foreign Trade (Development and Regulation) Act 1992 Bare Act PDF download
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