Highlights on Import of Cars and More on foreign trades


Import of Cars


Imports of cars/vehicles is permitted through designated ports only.now import of cars/vehicles would also be allowed at ICD Faridabad and Ennore Port(TN)


      Recredit of 4% SAD 


        Utilization of recredited 4% SAD scrips shall be allowed upto 30.09.13 as a trade
        facilitation measure. However, no further extension shall be considered by Government
        and this would be the  last such opportunity. The importers are advised to make the
        initial payment of 4% SAD in cash in future if they want a refund.

Improvement in quality and timeliness of Foreign Trade Data

         1       Initiative been taken to improve quality and accuracy of foreign trade data. The 

        release of Press Note relating to Quick estimates has been compressed to 15 days 

        after completion of the month to which it relates. The period of reporting by DGCIS

         about data on principal commodity-wise has been reduced from 2 ½ months to 

        1 month. Further transaction level (8 digit level) data is now available within a period

         of 2 months.

         It has been decided that items falling under chapter 3 schemes for export incentive 

        would be aligned with ITC (HS). This task has been completed by DGFT and it has 

        been uploaded on the website of DGFT to seek feedback from the trade. Trade is 

        requested to give their feedback by 17th May, 2013.

         Second Task Force on Transaction Cost in International Trade

                 The report on Transaction Cost was released in Feb 2011. Implementation of its

         recommendation resulted into estimated reduction of transaction cost of approximately 

        Rs 2495 Crores. Second Task Force on Transaction Costs has been constituted. The 

        Committee would submit its report in six months