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Trade Update 9
WEEKLY TRADE UPDATE
Foreign Trade Updates
A. The DGFT has introduced a Proforma of Undertaking in the form of a Legal Agreement for export/ re-export of items under SCOMET List for repair/replacement and display/ exhibition/ tender purpose.
The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry has introduced a Proforma for Undertaking in the form of a Legal Agreement for exporters if SCOMET items, vide Public Notice 63/2015-20 dated February 18, 2020. for the following purpose:
- Export of SCOMET items for repair/ replacement under Paragraph 2.79C (A) of the Foreign Trade Procedures.
- Re-export of SCOMET items for repair/ replacement under Paragraph 2.79C (B) of the Foreign Trade Procedures.
- Export for Demo/ display/ exhibition/ tender on temporary basis under Paragraph 2.79D (A) of the Foreign Trade Procedures.
The Undertaking must be filled, signed in ink with the company stamp, submitted online and to the DGFT (Hqrs). It will be executed on a stamp paper of Rs 200/-. Further the return of the SCOMET items must also be intimated in the format provided in Annexure –I of the Public Notice 63/2015-20 dated February 18, 2020.
B. Inclusion of Kattupalli in the list of ports for Pre-shipment Inspection Certificate Exemption.
The DGFT, vide Public Notice 63/2015-20 dated February 18, 2020, included Kattupalli to the list of sea-ports where Pre-Shipment Inspection Certificate (PSIC) is exempted in case of import of metallic scrap coming from safe countries. The safe countries presently include USA, UK, Canada, New Zealand, Australia and EU.