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India plays a significant role in global trade, as it exports everything from textiles and technology to agricultural products.   However, not all goods are subject to free export. Some goods, referred to as restricted goods, require specific permissions or licenses before being permitted to leave the country.  The restriction of…

India is one of the fastest-growing economies in the world. There are a variety of imports and exports, from electronic devices to agricultural products; countries are involved in dynamic trading and world-class partners.   But within the lively business framework, there is a complex problem of these limited products in accordance…

Starting an export business opens exciting opportunities. But it also comes with many challenges.   The export process involves compliance with complex regulations. International logistics management and compliance with trade laws for first-time exporters, these challenges can lead to errors that affect profits and relationships with global buyers.  Common problems that…

 Prohibited items under the EPCG program are items that violate national and international regulations. Or pose a risk to India’s security and public safety. These products cannot be imported under this program even though those products may be useful for running a business.   The list of prohibited goods is part…

 India’s export-driven policies, such as pre-licensing and EPCG (Export Promotion Capital Goods) scheme, allow exemption of duties on imported goods intended for re-export. Support the country’s exporters. These plans require bank guarantees. The exporter fulfils its financial insurance export obligations. According to the latest statistics, more than 60% of Indian…

The Export Promotion Capital Goods (EPCG) Scheme is a crucial tool for businesses in India to import capital goods without paying heavy custom duties upfront. However, this privilege comes with conditions, and a Bank Guarantee (BG) plays a pivotal role in this process. Let’s break down the concept of Bank…

The Government of India, as part of its foreign trade policy, introduced the EPCG Scheme to support manufacturing exports. The EPCG Scheme provides the facility of a license for duty-free import of capital goods. However, exporters and manufacturers who use the EPCG Scheme must fulfil an export obligation.   You must…

IGCR stands for Import of Goods at Concessional Rate of Duty. The relaxation in the rate of duty is provided by the CBIC in the form of IGCR. IGCR Rules govern the provisions for the same, that is, the Import of Goods at Concessional Rate of Duty or for Specified…