Import Export

Scomet list related to the export of services

Scomet list related to the export of services

Special Chemicals, Organisms, Materials, Equipment, and Technologies, or SCOMET goods, are dual-use items that have both defense and commercial usage. Exports of commodities on the SCOMET list are subject to India’s Foreign Trade Policy. To export SCOMET, the exporter must first get an IEC Code and license from the Ministry of Commerce’s Directorate General of … Read more

MEIS applications for export of services under GST

MEIS applications for export of services under GST

Foreign Trade Policy (FTP) for 2015–2020 comprises the Merchandise Export from India Scheme (MEIS). To encourage more exports, the MEIS was established. Foreign merchants are compensated with duty credit scrips. The DGFT (Directorate General of Foreign Trade) notifies, and the Ministry of Commerce and Industry implements, the MEIS. What is MEIS? The government provides support … Read more

Steps taken for increasing exports through e-Commerce

Steps taken for increasing exports through e-Commerce

The act of purchasing and selling through the Internet is referred to as e-commerce (also known as digital commerce). This concept covers transactions where online activity is not the only component. A website may be useful in educating a customer about a good or deal that they may purchase offline. There is no disputing the … Read more

IEC code License mandatory export service

IEC code License mandatory export service

Small and Medium Enterprises (SMEs) have grown significantly in India during the past few years. .  SMEs in India are aware of the fact that, in order to keep on top of the industry, their businesses must go outside their own country’s borders. But before you plunge into the deep end of the ocean, there … Read more

DGFT grants unrestricted import for watermelon seeds till Sept end

DGFT grants unrestricted import for watermelon seeds till Sept end

Good news for importers as there is the latest update for importing watermelon seeds. As per the latest updates, DGFT has launched a new notification for importing watermelon seeds. This article discusses the recent updates about DGFT grants unrestricted import status for watermelon seeds. What is “Free” or “Unrestricted” status in Import? The DGFT does … Read more

Only 1 AD Code Registration for all Ports

Only 1 AD Code Registration for all ports

DGFT has issued the latest notification concerning the huge demand from traders regarding AD Code Registration. The government also claims this update will be beneficial for traders, and the government also claims it will facilitate trade and streamline the process. The latest update from DGFT is regarding only 1 AD Code Registration for all ports. … Read more

GST registration mandatory for export of services in India

GST registration mandatory for export of services in India

Historically, India has been a major exporter to the international market. Our Indian economy and GDP are growing at a quicker rate as a result of new laws in India that encourage exports. Furthermore, if you want to start export business in India, you can avail several benefits from the government after getting necessary registrations … Read more

Import export code (IEC) Meaning, Benefits, Requirement

Import export code (IEC) Meaning, Benefits, Requirement

We all know Import and Export Business is profitable in India. However, there is a cut-throat competition for strict laws. Before going global, there are a number of procedures and rules that must be followed, as well as a number of registration and licensing requirements. When importing or exporting from India, you’ll need an IEC. … Read more

Top 10 export products from India

Top 10 export products from India

In the first seven months of 2021-2022, India has made record progress in the number of exports. From April – to September 2021, India has exported goods worth more than $197 billion, and the monthly export amount has been above the $30 billion mark. Hence, Export business in India is highly profitable. If you also … Read more

Export Incentives in India: Types & benefits

Export Incentives in India Types & benefits

India’s economy is among the world’s fastest-expanding economies. It is the country’s ambition to have a $5 trillion GDP by 2025. One of the prerequisites for meeting this aim is to increase its exports to $1 trillion by the same year. At this point, the government’s ability to support the export community will be critical. … Read more