Custom Law

Glossary (Acronyms) : Acronym Explanation AA Advance Authorisation ACC Assistant Commissioner of Customs ANF Aayaat Niryaat Form BG Bank Guarantee BIFR Board of Industrial and Financial Reconstruction BoA Board of […]

Penalties : In case any exporter or importer in the country violates any provision of the Foreign Trade Policy or for that matter any other law in force, like Central Excise […]

Special Economic Zone (SEZ) : (a) Introduction A Special Economic Zone (SEZ) is a geographically bound zone where the economic laws in matters related to export and import are more broadminded […]

DEEMED EXPORTS : Deemed Exports refer to those transactions in which goods manufactured in India are supplied to specified projects or to specific categories of consumers. In deemed exports, goods supplied do […]

EOU, EHTP, STP & BTP SCHEMES : Units under Export Oriented Unit (EOU) Scheme, Electronics Hardware Technology Park (EHTP) Scheme, Software Technology Park (STP) Scheme or Bio-Technology Park (BTP) Scheme export their […]

EXPORT PROMOTION CAPITAL GOODS SCHEME (EPCG) : Export Promotion Capital Goods Scheme (EPCG) permits exporters to import capital goods for pre-production, production and post-production at zero customs duty or procure them indigenously […]

DUTY EXEMPTION & REMISSION SCHEMES : The Duty Exemption and Remission Schemes are the most important schemes in the Foreign Trade Policy, because they are most widely utilized and are largely […]

Export promotion schemes : Exports of a country play an important role in the economy. Government always endeavors to encourage exports by introducing various export promotion schemes. Consequently, there are various promotional […]

Provisions regarding imports and exports : A. GENERAL PROVISIONS APPLICABLE TO IMPORT AND EXPORT OF GOODS 1. Exports and imports are free unless regulated: Exports and Imports shall be free, except […]