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Published on May 7, 2008

Author: Maria

Source: authorstream.com

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Slide1:  Presentation Outline WTO -- basic principles relevant to Foreign Trade Policy Schemes formulated under the Foreign Trade Policy of India are WTO compatible—How far ?? WTO– Basic Principles #Trade without discrimination #Predictable and growing access to market #Undistorted, “fair” competition #Transparency and due process #Encourage development through efficient allocation of resources– S & D treatment :  WTO– Basic Principles #Trade without discrimination #Predictable and growing access to market #Undistorted, “fair” competition #Transparency and due process #Encourage development through efficient allocation of resources– S & D treatment Few Applications other than Subsidies --Preferential (GSP)& Non- Preferential certificates -- Tariff Rate Quota --Single point Licensing System -- All schemes and provisions to be notified to WTO; Cross Notification for other countries -- Requirement of a nodal department to consolidate all notifications :  Few Applications other than Subsidies --Preferential (GSP)& Non- Preferential certificates -- Tariff Rate Quota --Single point Licensing System -- All schemes and provisions to be notified to WTO; Cross Notification for other countries -- Requirement of a nodal department to consolidate all notifications Subsidy— (A) --Financial Contribution by Govt/Public Body within the territory of a member -- Direct transfer of funds, equity infusion, potential direct transfer of funds/liabilities --Govt revenue due is forgone or not collected – exception for export product --Govt provides goods or services other than general infrastructure or purchase goods -- Govt payments to a funding mechanism or directs a private body to carry out above function(s) (B) Any form of Income or price support and a benefit is conferred:  Subsidy— (A) --Financial Contribution by Govt/Public Body within the territory of a member -- Direct transfer of funds, equity infusion, potential direct transfer of funds/liabilities --Govt revenue due is forgone or not collected – exception for export product --Govt provides goods or services other than general infrastructure or purchase goods -- Govt payments to a funding mechanism or directs a private body to carry out above function(s) (B) Any form of Income or price support and a benefit is conferred Subsidies --Prohibited Subsidies(Red Light Subsidy) --Actionable Subsidy (Amber or Yellow level Subsidy) --Non Actionable Subsidies (Green Light Subsidies) Not Specific to certain enterprises Objective criterion or conditions governing the eligibility Lapsed on 31st Dec’1999 with certain exceptions :  Subsidies --Prohibited Subsidies(Red Light Subsidy) --Actionable Subsidy (Amber or Yellow level Subsidy) --Non Actionable Subsidies (Green Light Subsidies) Not Specific to certain enterprises Objective criterion or conditions governing the eligibility Lapsed on 31st Dec’1999 with certain exceptions Agreement on Subsidies and Countervailing Measures Prohibited subsidies: a) Contingent upon export performance b) Contingent upon the use of domestic over imported goods (Import Substitution Subsidy)--. Exception: Foot note 61 of Annex II to the agreement: Exemption or remission of duty (Indirect tax) on the inputs (which are physically incorporated) or Oil, fuel, energy, catalyst used in the export production permitted. :  Agreement on Subsidies and Countervailing Measures Prohibited subsidies: a) Contingent upon export performance b) Contingent upon the use of domestic over imported goods (Import Substitution Subsidy)--. Exception: Foot note 61 of Annex II to the agreement: Exemption or remission of duty (Indirect tax) on the inputs (which are physically incorporated) or Oil, fuel, energy, catalyst used in the export production permitted. PROHIBITED SUBSIDIES: (Exceptions) Agreement recognises the important role of subsidies in economic development of developing countries and transformation of centrally planned economies to market conditions. Least developed countries and developing countries having less than US$ 1000 per capita GNP are exempted from discipline of prohibited subsidies. :  PROHIBITED SUBSIDIES: (Exceptions) Agreement recognises the important role of subsidies in economic development of developing countries and transformation of centrally planned economies to market conditions. Least developed countries and developing countries having less than US$ 1000 per capita GNP are exempted from discipline of prohibited subsidies. ACTIONABLE SUBSIDIES (Adverse effects to the interests of other members) --Injury to the domestic industry of other member --Indirect or direct Nullification or impairment of benefits to other members --Serious prejudice to the interest of other member :  ACTIONABLE SUBSIDIES (Adverse effects to the interests of other members) --Injury to the domestic industry of other member --Indirect or direct Nullification or impairment of benefits to other members --Serious prejudice to the interest of other member Non Actionable Subsidies Subsidies involving assistance to industrial research and pre-competitive development activity. Assistance to disadvantaged regions. Assistance for adapting existing facilities to new environmental requirement imposed by law. :  Non Actionable Subsidies Subsidies involving assistance to industrial research and pre-competitive development activity. Assistance to disadvantaged regions. Assistance for adapting existing facilities to new environmental requirement imposed by law. ASCM and DISCIPLINE ON EXPORT SUBSIDIES -Export subsidies generally prohibited --Prohibition not applicable to ANNEX VII countries which includes India provided “Export Competitiveness” in a product not reached; (Export Competitiveness –Export of the product reached a share of at least 3.25% in world trade of that product for two consecutive calendar years– Phase out over a period of 8 years) --However export subsidies granted by ANNEX VII countries can be subject to countervailing duty action.:  ASCM and DISCIPLINE ON EXPORT SUBSIDIES -Export subsidies generally prohibited --Prohibition not applicable to ANNEX VII countries which includes India provided “Export Competitiveness” in a product not reached; (Export Competitiveness –Export of the product reached a share of at least 3.25% in world trade of that product for two consecutive calendar years– Phase out over a period of 8 years) --However export subsidies granted by ANNEX VII countries can be subject to countervailing duty action. Foreign Trade Policy of India:  Foreign Trade Policy of India India’s Foreign Trade Period - $ Growth Rate 1999-2000 10.85 2000-2001 21.01 2001-2002 -1.65 2002-2003 20.34 2003-2004 17.26(US$63b) 2004-2005 (US$81b) 2005-2006 24.71(US$101b) :  India’s Foreign Trade Period - $ Growth Rate 1999-2000 10.85 2000-2001 21.01 2001-2002 -1.65 2002-2003 20.34 2003-2004 17.26(US$63b) 2004-2005 (US$81b) 2005-2006 24.71(US$101b) WIDE SPECTRUM TARGET OBJECTIVES STRATEGY :  WIDE SPECTRUM TARGET OBJECTIVES STRATEGY To Achieve the Target the Policy Objectives:- # Facilitate sustained growth in exports to attain a share of atleast 1.5% of global merchandise trade by 2009. Present Annual growth rate(CAGR) -11.9%; # To act as an effective instrument of economic growth by giving a thrust to employment generation & poverty Alleviation:  To Achieve the Target the Policy Objectives:- # Facilitate sustained growth in exports to attain a share of atleast 1.5% of global merchandise trade by 2009. Present Annual growth rate(CAGR) -11.9%; # To act as an effective instrument of economic growth by giving a thrust to employment generation & poverty Alleviation STRATEGY TO ACHIEVE THE OBJECTIVES:  STRATEGY TO ACHIEVE THE OBJECTIVES # Bring down transaction cost– Simplified procedure, Unshackling of controls, built-in transparency & mutual trust; # Neutralising incidence of all levies & duties on inputs— Duties & Levies should not be exported. # India to be a Global hub for Manufacturing, Trading & Services; # Special Focus area Initiatives to generate employment; # Facilitating Technological & Infra-structural upgradation; #Avoiding inverted duty structure; RTAs, FTAs/PTAs # Upgrading Infrastructure facility;Revitalise Board of Trade VARIOUS TYPES OF LICENCES/ Cfts/ AUTHORISATION 1.IEC Number 2.Authorisations under Export Promotion Schemes 3.Preferencial(GSP) & Non-preferencial cft of origin 4.Import licences 5. Export Licences including SCOMET licences 6.Tariff rate quota allocation 7. Star Export House certificates 8. Imports at concessional duty for R& D purpose 9. Actual user licences 10. Permission for mfgr of SSI reserved products :  VARIOUS TYPES OF LICENCES/ Cfts/ AUTHORISATION 1.IEC Number 2.Authorisations under Export Promotion Schemes 3.Preferencial(GSP) & Non-preferencial cft of origin 4.Import licences 5. Export Licences including SCOMET licences 6.Tariff rate quota allocation 7. Star Export House certificates 8. Imports at concessional duty for R& D purpose 9. Actual user licences 10. Permission for mfgr of SSI reserved products Export Incentives(DOC) :  Export Incentives(DOC) CENTRAL DUTY REFUND/ NEUTRALISATION/ EXEMPTION SCHEMES Pre- export Post- export Market Development Initiatives INFRA- STRUCTURE Related Sops MDA Grant MAI Grant ASIDE SCHEME TOWNS OF EXPORT EXCELLENCE Additional incentives Linked with Exports Duty exemptions Under Customs Notif. 21/2002 Misc.Incentives Such as DFEC, Focus Mkt & Focus Product, VK&GUY, Addl.weightage Slide18:  CENTRAL DUTIES CUSTOMS DUTY—Basic, Addl(CVD including 4% Addl. duty, Education Cess, Anti-dumping, Safeguard duties etc. EXCISE DUTY--- Basic, Addl Excise duty etc. EXPORT CESS CENTRAL SALES TAX INCOME TAX FBT SERVICE TAX OTHERS ELECTRICITY DUTY, OCTROI, SALES TAX etc. SCHEMES :  SCHEMES # SEZ Scheme # EOU/EHTP/STP/BTP Schemes # EPIP Scheme # FTWZ # Warehousing Scheme # CCP # DTA Schemes DTA SCHEMES:  DTA SCHEMES Pre-Export Post-Export ADVANCE Auth. DFIA EPCG DFRC, 2. DEPB, 3.REP DRAWBACK—Phy & D.E. TED Refund Focus Mkt & Focus Product DFEC for Service Sec Vishesh Krishi & Gram Udyog Yojana Physical (out of India/Supply to SEZ) (Against Indian Rupees or Free foreign Exchange) EXPORTS Supply within the country(Deemed) (In Indian Rupees or Free Foreign Exchange—EEFC) EXPORTERS:-- Manufacturer Vs Merchant:  Physical (out of India/Supply to SEZ) (Against Indian Rupees or Free foreign Exchange) EXPORTS Supply within the country(Deemed) (In Indian Rupees or Free Foreign Exchange—EEFC) EXPORTERS:-- Manufacturer Vs Merchant ADVANCE AUTHORISATION SCHEME X----------Y--------Z 1.PHYSICAL EXPORT, DEEMED & INTERMEDIATE SUPPLIES -- Duty free import of Inputs, Fuel, Oil, Energy, Catalyst etc. -- +V.A.;AU condition; Norm fixed & No Norm cases; Imports & Exports valid upto 24 months; Further extn allowed -- Supply to SEZ units also covered; -- E.O. discharge based on S/Bs & BRC New Provisions: 1. Supply of Stores to out going vessels & Aircrafts — Eligible for the benefit of EP schemes with SION 2. Limit on 4.7 Authorisation raised to 500%:  ADVANCE AUTHORISATION SCHEME X----------Y--------Z 1.PHYSICAL EXPORT, DEEMED & INTERMEDIATE SUPPLIES -- Duty free import of Inputs, Fuel, Oil, Energy, Catalyst etc. -- +V.A.;AU condition; Norm fixed & No Norm cases; Imports & Exports valid upto 24 months; Further extn allowed -- Supply to SEZ units also covered; -- E.O. discharge based on S/Bs & BRC New Provisions: 1. Supply of Stores to out going vessels & Aircrafts — Eligible for the benefit of EP schemes with SION 2. Limit on 4.7 Authorisation raised to 500% DUTY FREE IMPORT AUTHORISATION (DFIA):  DUTY FREE IMPORT AUTHORISATION (DFIA) New Scheme has been made operational from 1.5.06. Duty free (exemption from all duties) import of inputs, energy sources, oil, catalyst etc. Min. 20% value addition Both facilities – pre-export & post export filing No limit on the number of port of exports Import & Export as per SION Post export Transferability Transferable DFIA valid for 12 months from the date of endorsement of transferability or 36 months from the date of issuance, which ever is later CENVAT facility – for other than duty free inputs. EPCG Scheme --Import of capital goods with AU condition at concessional rate of 5% duty for pre-production, Production & Post production purposes -- E.O. 8 times the duty saved in 8 years; 12 Years; -- E.O. monitoring in two blocks only -- Special Dispensation for licence with duty saved of Rs 100 crores or above, Agro units, SSI units, BIFR. E.O. period 12 years and varied /reduced E.O. -- EPCG licence for project import—Reduced E.O. -- Export of alternate product/services allowed -- Special package for agro units in the AEZ New Addition: 1. E.O. extn for 2 years with 50% duty; 2. Average being relaxed :  EPCG Scheme --Import of capital goods with AU condition at concessional rate of 5% duty for pre-production, Production & Post production purposes -- E.O. 8 times the duty saved in 8 years; 12 Years; -- E.O. monitoring in two blocks only -- Special Dispensation for licence with duty saved of Rs 100 crores or above, Agro units, SSI units, BIFR. E.O. period 12 years and varied /reduced E.O. -- EPCG licence for project import—Reduced E.O. -- Export of alternate product/services allowed -- Special package for agro units in the AEZ New Addition: 1. E.O. extn for 2 years with 50% duty; 2. Average being relaxed DFRC SCHEME (Scheme withdrawn for exports from 1.5.2006) --Post export scheme based on S/B (Bill of Export) and BRC; Both against Phy. & Deemed exports; --Min. 25% V.A., SION based, Certain sensitive items with technical specification allowed; --Freely transferable certificate; However DFRC with AU condition also available;24 months valid; --Fuel allowed to be transferred to marketing agencies authorised by Ministry of P&NG; --Facility of CENVAT credit or drawback --Only basic customs duty exemption at the time of imports --Restriction of only one port of export in one application :  DFRC SCHEME (Scheme withdrawn for exports from 1.5.2006) --Post export scheme based on S/B (Bill of Export) and BRC; Both against Phy. & Deemed exports; --Min. 25% V.A., SION based, Certain sensitive items with technical specification allowed; --Freely transferable certificate; However DFRC with AU condition also available;24 months valid; --Fuel allowed to be transferred to marketing agencies authorised by Ministry of P&NG; --Facility of CENVAT credit or drawback --Only basic customs duty exemption at the time of imports --Restriction of only one port of export in one application 4.DEPB SCHEME --Post export scheme based on S/B (Bill of Export) and BRC; Freely transferable unless specified; -- Supplies to SEZ units also elligible for payment against foreign currency account of the unit --Based on basic customs duty on inputs --Filing of application and late cut --CENVAT credit or drawback available; --Any item including CG (freely importable) allowed for import; --Valid for 24 months; :  4.DEPB SCHEME --Post export scheme based on S/B (Bill of Export) and BRC; Freely transferable unless specified; -- Supplies to SEZ units also elligible for payment against foreign currency account of the unit --Based on basic customs duty on inputs --Filing of application and late cut --CENVAT credit or drawback available; --Any item including CG (freely importable) allowed for import; --Valid for 24 months; SERVICE EXPORTS -- For 161 Tradable services -- New Export Promotion Council for Services -- DFEC for Serve from India Scheme 1. Eligibility: -- Min.FFE of Rs 10 Lakhs in the preceding or current financial year (Exception Rs 5 Lakhs for individuals) -- Categories of exports excluded for entitlement 2. Entitlement: Hotels of one star & above-- 5% Stand alone Restaurants All other service providers-- 10% 3. Imports allowed: -- With AU condition -- Any CAPITAL GOODS, Office Equipments, Furnitures and consumables etc -- No Agricultural Product except food items and beverages for the Hotels and Restaurants :  SERVICE EXPORTS -- For 161 Tradable services -- New Export Promotion Council for Services -- DFEC for Serve from India Scheme 1. Eligibility: -- Min.FFE of Rs 10 Lakhs in the preceding or current financial year (Exception Rs 5 Lakhs for individuals) -- Categories of exports excluded for entitlement 2. Entitlement: Hotels of one star & above-- 5% Stand alone Restaurants All other service providers-- 10% 3. Imports allowed: -- With AU condition -- Any CAPITAL GOODS, Office Equipments, Furnitures and consumables etc -- No Agricultural Product except food items and beverages for the Hotels and Restaurants SERVICE EXPORTS (Contd.):  SERVICE EXPORTS (Contd.) NEW PROVISIONS: --Service exports in Indian Rs considered to be deemed foreign Exchange by RBI; --Foreign Exchange earned through Intl credit card or other similar instruments; --Now scrip is also transferable among the Group Companies; VISHESH KRISHI & GRAM UDYOG YOJANA --Modified scheme renamed to boost exports of Gramin industries as well along with specified agricultural products. 1. Duty credit entitlement of 5% of FOB value of Exports. 2. Exports of fruits, vegetables, flowers, minor forest produce, Dairy & Poultry and their value added variants 3. Freely transferable 4. Imports of inputs and capital goods permitted. 5.CENVAT credit or DBK allowed for the CVD New Provisions: 1.Reduced credit for Advance Authorisation holder etc—Promote domestic procurement; 2.Exports made by EOU not allowed; 3.Gram Udyog products notified in Appendix 37 A-PN 8 dt 10/5/06; :  VISHESH KRISHI & GRAM UDYOG YOJANA --Modified scheme renamed to boost exports of Gramin industries as well along with specified agricultural products. 1. Duty credit entitlement of 5% of FOB value of Exports. 2. Exports of fruits, vegetables, flowers, minor forest produce, Dairy & Poultry and their value added variants 3. Freely transferable 4. Imports of inputs and capital goods permitted. 5.CENVAT credit or DBK allowed for the CVD New Provisions: 1.Reduced credit for Advance Authorisation holder etc—Promote domestic procurement; 2.Exports made by EOU not allowed; 3.Gram Udyog products notified in Appendix 37 A-PN 8 dt 10/5/06; FOCUS PRODUCT SCHEME:  FOCUS PRODUCT SCHEME New scheme for exports from 1.4.06; High employment potential in rural & semi urban areas to offset a part on the : --Inherent Infrastructure bottlenecks, --cost in marketing of the products Notified products– Value added fish & Leather products; stationery items; fireworks; sports goods; handloom products bearing handloom mark and handicraft items– Appendix notified vide PN 13 dt.25.5.06. Duty credit @ 1.25% of FOB value of exports; Freely transferable scrip FOCUS MARKET SCHEME:  FOCUS MARKET SCHEME New scheme for exports from 1.4.06; Objective: :-To enhance India’s competitiveness in such regions by way of offsetting:- --High Freight Cost; --Other disabilities in selection of the Market. Notified Markets–Appendix to be notified. Duty credit @ 2.5% of FOB value of exports; Freely transferable scrip Gems & Jewellery (Contd):  Gems & Jewellery (Contd) NEW PROVISIONS --Import of Scrap Jewellery for re-export --Re-import of Rejected Jewellery --Export of Cut & Polished stones for treatment --Export of Jewellery on consignment basis --Reduced value addition on jewellery export --Facility of LUT in place of BG for precious metal OTHERS::  OTHERS: Automobile Hub—Allowing import of vehicles for R& D (Homologation relaxation) Refund of Central Sales Tax to BPO/ITES Companies 100% EOUs: --Export of components & spares upto 1 & half % --Fast track clearance mechanism; --textile units- disposal of 2% left over material annually --Time limit for disposal of the work Pre-shipment cft in lieu of test report by customs Interest payment on refunds Import policy for Genetically Modified material (GMO) Un-rebated service tax under various schemes ISSUES UNDER CONSIDERATION:  ISSUES UNDER CONSIDERATION DIGITALISATION AND COMPLETE AUTOMATION; DEMAT FORMATTING OF THE CERTIFICATE etc.; DIRECT IMPORT OF FUEL BY THE EXPORTERS FREE IMPORTABILITY OF PRECIOUS METAL WITH CONDITIONS SCHEME ON REBATE OF UN-REBATED TAXES AND LEVIES STATUS CERTIFICATES --One star to Five Star Export House -- Double weightage for certain categories -- Special Privileges :  STATUS CERTIFICATES --One star to Five Star Export House -- Double weightage for certain categories -- Special Privileges Details available in the site: Department of commerce:http://commerce.nic.in DGFT: http://www.nic.in/eximpol; http://dgft.gov.in :  Details available in the site: Department of commerce:http://commerce.nic.in DGFT: http://www.nic.in/eximpol; http://dgft.gov.in Slide37:  THANKS

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