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New Exim Policy / Foreign Trade Policy 2008 - 2009 - Highlights
Exim Policy Annual Supplement Highlights 2008 - 09

  • DEPB scheme has been extended till May 2009.

  • Refund of service tax on almost all the services.

  • Income tax benefit to 100% EOUs has been extended by Government.

  • Coverage of FMS has been increased and additional 10 countries have been included. These are Mongolia, Bosnia-Herzegovina, Albania, Macedonia, Croatia, Honduras, Djibouti, Sudan, Ghana and Colombia.

  • Split-up facility under DFIA Scheme introduced.

  • Duty free import of samples has been increased from Rs.75, 000 to Rs.1, 00,000.

  • Value of jeweler parcels, through Foreign Post Office is raised to US$ 75,000. Earlier it was from US$ 50,000.

  •  EOUs shall be allowed to pay excise duty on monthly basis, instead of the present system of paying duty on consignment basis.

  • Customs duty payable under EPCG Scheme has been reduced from 5% to 3%.

  • Setting up a new Export Promotion Council for Telecom Sector.
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EXIM NEWS - EXPORT IMPORT
  • Finance Minister Asks Customs Administration To Function On Principles Of Transparency
    The Union Finance Minister Shri Pranab Mukherjee Said That The Modern Customs Administration Should Function On The Principles Of Transparency, Predictability, Strong Legal Processes And Productive Use Of Information Technology To Serve The Stake Holders Efficiently And To Enhance The Competitiveness Of Indian Business. The Finance Minister, Shri Mukherjee Was Addressing The Retired And Serving Officers Of Customs And Central Excise, Representatives Of Trade And Industry And Senior Officers Of The Ministry Of Finance At A Function Organized, Here Today To Celebrate “50 Years Of The Customs Act 1962”.
  • Allegations Of Lean Gas Purchases Fuel Probe Into Petronet's Imports
    The Government Has Ordered A Probe Into Petronet Lng's Imports Of Liquefied Natural Gas Following Allegations That The Company Has Quietly Switched To Buying Lean Gas, Which Can Only Be Used As Fuel, Instead Of Rich Gas That Can Also Produce Petrochemicals And Cooking Gas, Government And Industry Officials Said.
  • Southern States Told To Adopt Granite Conservation Rules For Uniform Development
    States Especially - Karnataka, Tamil Nadu And Andhra Pradesh Should Adopt Centre's Granite Conservation And Development (Gcdr) Rules For Healthy Competition And For Uniform Development Of Granite Industry, Said Mr Vishwapati Trivedi, Union Secretary, Ministry Of Mines.
  • Higher Export Data Lifts Guar Complex
    The Guar Complex Continued To Rally With Guarseed Contracts On The Futures Market Hitting Rs 12,500 A Quintal And That Of Guar Gum Rs 41,000 A Quintal On Wednesday.
  • Not In Favour Of Ramping Up Coal Imports: Ntpc
    India's Largest Power Generation Company Ntpc Today Said It Is Not In Favour Of Ramping Up Its Coal Imports As This Would Escalate The Cost Of Electricity.
  • Export Enquiries Raise Hopes For More Non-Basmati Exports
    With The Weather Turning Favourable, Demand Is Picking Up In The Domestic Market, Said Mr Amit Chandna, Proprietor Of Hanuman Rice Trading Company. Traders Expect Brokens And Permal To Remain Firm And Sharbati And Aromatic Varieties To Increase In Near Future, He Added.
  • High Global Prices To Push Natural Rubber Exports
    The Market Here Quoted Rs 190A Kg For Rss-4 Grade On Wednesday, While In Bangkok Spot Trade It Was Quoted At Rs 202 A Kg. A Couple Of Weeks Before, The Domestic Price Was Higher By Rs 14-16 A Kg Than The International Tags. This Change May Trigger A Rise In Export From India.
  • Mines Ministry For Exporting All Types Of Iron Ores
    Differing Sharply With The Commerce And Industry Ministry, The Mines Ministry Favours Export Of All Types Of Iron Ore. It Is Also Against Canalising Exports Of High-Grade Iron Ore Through The State-Run Mmtc.
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