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- 2. INDEX • IEC • MEMBERSHIP • INCO TERMS • PAYMENT TERMS • ECGC • PRE-SHIPMENT AND POST-SHIPMENT DOCUMENTS • DUTY DRAWBACK • INCENTIVE SCHEMES
- 3. IEC • IEC – Importer Exporter Code • PAN – Permanent Account Number • Certificate from Bank • List of documents as required by DGFT • Submit through online based on PAN No. • As per new foreign Trade Policy IEC certificate is PAN based
- 4. Membership • EPCH – Export Promotion Council for Handicrafts • FIEO – Federation of Indian Export Organization • Chemexcil • Depending on their products
- 5. Inco Terms FOB – Free on Board C&F – Cost and Freight CIF – Cost Insurance and Freight C&I – Cost and Insurance FOR – Free on Road
- 6. Payment terms • DA – Documents against acceptance • DP / DAP – Documents Against Payment • At Sight • Advance • L/C At Sight
- 7. Marine Insurance • This is insurance to the goods from warehouse to warehouse • Insurance to the goods
- 8. ECGC • Export Credit Guarantee Corporation of India Ltd – Insurance for the customer • As per the New Policy, shipment should not be moved if ECGC is not covered
- 9. Certificate of Origin • COO is a proof for the Origin of the goods • For the European Countries – GSP is applicable, now once registered with REX hard copies will not be issued • GSP Certificate has to be prepared on the same day of Invoice is raised. • Free Trade agreements certificate – for some countries
- 10. Pre-Shipment • Invoice • Packing List • Shipping Instruction • Appendix- 1 • Appendix – A • SDF Form • Appendix – III and IV
- 11. Post Shipment • If the terms is DA – send documents through Bank • If the terms is Advance – send documents directly to customer • Only status holder can send the documents directly to customers • Others they have to route the documents through Bank, if the terms is DA or DP
- 12. Documents sent to customer • Invoice • Packing List • Bill of Exchange • Bank Negotiation letter • Bill of Lading • Insurance Certificate • Legalization of documents • Certificate of Origin / GSP Certificate • Any other documents depends on customer and country requirement
- 13. Documents • Goods should move from the factory premises on the same day of Invoice raised. • After the shipment, documents should be submitted to Bank within 21 days from the date of shipment.
- 14. Schemes • DFIA - Duty free import Authorization • DEPB – Duty entitlement Pass Book • Advance Authorization • Duty Drawback • EPCG – Export Promotion Capital Goods
- 15. Duty Drawback • If we import paying import duty, then we will be eligible for Duty Drawback • For Incense sticks – 3.9% on FOB value or Rs. 22.30 /Kg. which ever is less for Incense Sticks • All Industry drawback will change every year based on the data collected from the exporter, it will change every year in the month of September or October • Status of DBK can check in Icegate website icegate.gov.in
- 16. Incentive Schemes • FMS – Focus Market Scheme • VKGUY – Vishesh Krishi Gram Udyog Yojana • SFPS – Special Focus Product Scheme • SHIS – Status Holder Incentive Schemes • MEIS – Merchandise Export from India Scheme
- 17. MEIS • We have to submit On-line application and need not to submit the hard copies to DGFT • For Handicraft sector it will be 7% on FOB value • The duty scripts should be utilized within 24 months from the date of issue • As per GST rules this scripts will be utilized only for paying Basic customs duty • This script is transferable Note : We can ship the goods in INR, but the payment should be received in FC
- 18. STATUS CATEGORY Status Category FOB value in ( US$ Milliion ) One Star Export House 3 Two Star Export House 25 Three Star Export House 100 Four Star Export House 500 Five Star Export House 2000
- 19. THANK YOU