Business Daily from THE HINDU group of publications
Sunday, Sep 14, 2008
ePaper | Mobile/PDA Version | Audio

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Home Page - Exports & Imports
Logistics - Shipping/Ports
Importers of restricted items need to specify port upfront


“Quite often import authorisations are issued and imports don’t happen at all.”


K.R. Srivats

New Delhi, Sept. 13 In a bid to ensure better monitoring of imports of restricted items, the Government has now required importers to specify upfront the port through which the import of such items would take place.

The name of the port would have to be specified at the time of application for the import authorisation. All imports against the said authorisation would have to be made only through that port, according to the Directorate General of Foreign Trade (DGFT).

However, the authorisation holder could, if needed, obtain permission from customs authority concerned to import through any other specified port.

Currently, there are about 400 items that are under the “restricted” category for the purpose of imports. Restricted items for imports include worn clothing, durum wheat seed, rice seed, nuclear reactors, radio broadcast transmitter and marine radio communication.

“This move is aimed at better monitoring of imports of restricted items. Once the port name is specified, the Government can always verify later the quantity of imports that has taken place through that port. Quite often import authorisations are issued and imports don’t happen at all,” sources said.

Trade experts pointed out that an importer of restricted items would lose some flexibility as earlier he had the option to import from any port and changes could take place depending on trade requirements. Now, flexibility would not be fully available and the customs permission would have to be taken for change in the port of import.

More Stories on : Exports & Imports | Shipping/Ports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page




Hiring

Stories in this Section
Rains to keep monsoon withdrawal at bay


DoT eases roll-out obligation for WiMax players
Weekly News Round-up
Excise collections record sluggish growth in Aug
Fertiliser subsidy: Most payouts marked for urea importers
Serial blasts rock commercial areas in Capital, 18 dead
‘Govt cannot return more than 70 acres from Nano plant site’
Exporters hope to reap benefits of weak rupee
Importers of restricted items need to specify port upfront


Life




The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line