Directorate General of Foreign Trade (DGFT) licenses are required for businesses that engage in import and export activities in India. DGFT is the regulatory authority for regulating foreign trade in India. Here are some of the DGFT license services that businesses can avail of:
- Importer Exporter Code (IEC) registration: Importer Exporter Code is a 10-digit code issued by DGFT to businesses that engage in import and export activities. IEC registration is mandatory for businesses that engage in import and export activities.
- Advance Authorization: Advance Authorization is a license issued by DGFT to businesses that import raw materials, components, or capital goods duty-free for the purpose of manufacturing goods for export. The duty exemption is provided on the condition that the finished products are exported within a specified period.
- Export Promotion Capital Goods (EPCG) scheme: EPCG scheme is a license issued by DGFT to businesses that import capital goods at a concessional duty rate for the purpose of manufacturing goods for export. The duty exemption is provided on the condition that the finished products are exported within a specified period.
- Duty-Free Import Authorization (DFIA) scheme: DFIA scheme is a license issued by DGFT to businesses that import inputs used in the production of goods that are meant for export. The duty exemption is provided on the condition that the finished products are exported within a specified period.
- Merchandise Exports from India Scheme (MEIS): MEIS is a scheme that provides incentives to exporters for the export of specified goods. The incentives are in the form of duty credit scrips, which can be used to pay customs duty or excise duty on the import of goods.
- Service Exports from India Scheme (SEIS): SEIS is a scheme that provides incentives to exporters of specified services. The incentives are in the form of duty credit scrips, which can be used to pay customs duty or excise duty on the import of goods.
In conclusion, DGFT licenses are mandatory for businesses that engage in import and export activities in India. To comply with the DGFT laws and regulations and ensure smooth import-export operations, businesses can avail of various DGFT license services such as IEC registration, Advance Authorization, EPCG scheme, DFIA scheme, MEIS, and SEIS. By availing of these services, businesses can save time, avoid penalties, and focus on growing their business.
Frequently Asked Question | Director General of Foreign Trade (DGFT) Licenses by Aggarwal M & Associates
DGFT Licenses are issued by the Director General of Foreign Trade to regulate international trade. Aggarwal M & Associates offers guidance and assistance in obtaining DGFT Licenses to ensure compliance with export and import regulations.
Businesses engaged in international trade, both importing and exporting, require DGFT Licenses. These licenses are crucial for controlling trade activities, maintaining balance, and adhering to trade policies.
Our firm has extensive experience in assisting businesses across various sectors with DGFT License applications. We understand the intricacies of trade regulations and the documentation required.
Certainly, we provide comprehensive guidance throughout the process, from selecting the appropriate license category to preparing the required documents and facilitating the application.
DGFT offers licenses such as Advance Authorization, EPCG (Export Promotion Capital Goods), and more. These licenses offer benefits like duty exemptions, facilitating imports for exports, and encouraging value addition.
Yes, we specialize in assisting businesses with obtaining specific DGFT licenses like EPCG, which allows businesses to import capital goods at concessional customs duties for export production.
Our experts meticulously compile and review all necessary documents, ensuring accuracy and compliance. We closely monitor application progress, respond to authorities promptly, and expedite the approval process.
Absolutely, our services extend to post-approval compliance, helping businesses meet their obligations under DGFT licenses. We ensure businesses adhere to conditions and reporting requirements.
Our experienced team is well-equipped to handle challenges and address any discrepancies that may arise during the application process. We work diligently to resolve issues and ensure a smooth process.
Our services simplify the complex process of obtaining DGFT Licenses, allowing businesses to engage in international trade smoothly. We provide expert guidance, ensure compliance, and help businesses capitalize on trade benefits and opportunities.