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Law and Compliances

What are the import and export laws in India?

Answers 1

i) Import Policy a) Restricted: Restricted goods can be imported only after obtaining an import license from the relevant regional licensing authority. The goods covered by the license shall be disposed of in the manner specified by the license authority, which should be clearly indicated in the license itself. The list of restricted goods is provided in ITC (HS). An import license is valid for 24 months for capital goods, and 18 months for all other goods. b) Canalized: Canalized goods are items which may only be imported using specific procedures or methods of transport. The list of canalized goods can be found in the ITC (HS). Goods in this category can be imported only through canalizing agencies. The main canalized items are currently petroleum products, bulk agricultural products, such as grains and vegetable oils, and some pharmaceutical products. c) Prohibited: These are the goods listed in ITC (HS) which are strictly prohibited on all import channels in India. These include wild animals, tallow fat and oils of animal origin, animal rennet, and unprocessed ivory. ii) Export Policy a) Restricted Goods: Before exporting any restricted goods, the exporter must first obtain a license explicitly permitting the exporter to do so. The restricted goods must be exported through a set of procedures/conditions, which are detailed in the license. b) Prohibited Goods: These are the items which cannot be exported at all. The vast majority of these include wild animals and animal articles that may carry a risk of infection. c) State Trading Enterprise (STE): Certain items can be exported only through designated STEs. The export of such items is subject to the conditions specified in the EXIM policy.


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