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introduction exports and imports are carried out by traders who are residents of different countries goods have to cross national frontiers and
objectivesafter studying this unit you should be able to1 explain the nature of export sales contract2 distinguish between domestic sales
duty exemption scheme the duty exemption scheme consists of duty free licence and duty entitlement pass bookduty free licence includes advance
export promotion capital goods scheme capital goods both new and second hand may be imported under the export promotion capital goods epcg scheme the
imports you have learnt the provisions related to export at length as you know import plays an important role in the economic development of the
deemed exports it refers to those transactions in which the goods supplied do not leave the country and the payment for such goods are made in india
export of repaired goods goods or parts thereof on being exported and found defective damaged or otherwise unfit for use may be imported for repair
export of imported goods goods imported may be exported in the same or substantially the same form without a licence provided they are not under the
export of passenger baggage bonafide personal baggage may be exported along with the passenger it may also be exported within one year before or
export of spares warranty spares whether indigenous or imported of plant equipment machinery automobiles or any other goods may be exported upto 75
export of gifts goods including edible items of value not exceeding rs 15000 in a licensing year may be exported as a gift however items in the
realisation of export proceeds if an exporter does not realise the export proceeds within the time specified by the reserve bank of india he shall be
denomination of export contracts all export contracts and invoices shall be denominated in freely convertible currency and export proceeds shall be
free exports all goods may be exported without any restriction except to the extent such exports are regulated by the negative list of exports or any
general provisions regarding exports and imports as you know that the policy aims at promoting the exports and liberalising the imports let us first
highlights of exim policy 1997-2002 the new exim policy 1997-2002 aims at giving a major thrust to acceleration of indias exports through
compliance with laws every exporter or importer shall comply with the provisions of the foreign trade development and regulation act 1992 they will
registration-cum-membership certificate any person applying for a licence to import or export or for any other benefit or concession under this
rbi code number this code number is a requirement under the foreign exchange regulation act fera for obtaining the code number the firm has to apply
importer-exporter code number no export or import shall be made by any person without an importer-exporter code iec number unless specifically
procedure to obtain export licence an application for grant of export licence in respect of items mentioned in the exim policy may be made in the
export licensing as you know that all goods may be exported without any restriction except to the extent such exports are regulated by the
export trade control exports may be made freely except to the extent they are regulated by the provisions of import-export policy 1997-2002 or any
procedures export is considered as an engine of economic growth government make all out efforts to promote exports at the same time the export of
objectives of export-import policy government control import of non-essential items through an import policy at the same time all-out efforts are