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    Export License

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    niteshnagpal1990
    An export license is required for certain goods and allows an exporter to transport products to foreign markets. The licensing agency reviews export transactions and licenses depend on the goods and destination. Exporters must determine what they are exporting, where to, who will receive it, and intended use. Certain goods like gold can only be imported by designated agencies. Exporters must classify items and apply to the licensing committee to receive a license for goods that require one. Goods not on the classified list can generally be exported without a license under certain terms.

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    Attribution Non-Commercial (BY-NC)
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    Export License

    Uploaded by

    niteshnagpal1990
    200 views1 page
    An export license is required for certain goods and allows an exporter to transport products to foreign markets. The licensing agency reviews export transactions and licenses depend on the goods and destination. Exporters must determine what they are exporting, where to, who will receive it, and intended use. Certain goods like gold can only be imported by designated agencies. Exporters must classify items and apply to the licensing committee to receive a license for goods that require one. Goods not on the classified list can generally be exported without a license under certain terms.

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    An export license is required for certain goods and allows an exporter to transport products to foreign markets. The licensing agency reviews export transactions and licenses depend on the goods and destination. Exporters must determine what they are exporting, where to, who will receive it, and intended use. Certain goods like gold can only be imported by designated agencies. Exporters must classify items and apply to the licensing committee to receive a license for goods that require one. Goods not on the classified list can generally be exported without a license under certain terms.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    200 views1 page

    Export License

    Uploaded by

    niteshnagpal1990
    An export license is required for certain goods and allows an exporter to transport products to foreign markets. The licensing agency reviews export transactions and licenses depend on the goods and destination. Exporters must determine what they are exporting, where to, who will receive it, and intended use. Certain goods like gold can only be imported by designated agencies. Exporters must classify items and apply to the licensing committee to receive a license for goods that require one. Goods not on the classified list can generally be exported without a license under certain terms.

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    Export License.

    Introduction

    An export license is a document issued by the appropriate licensing agency after which
    an exporter is allowed to transport his product in a foreign market. The license is only
    issued after a careful review of the facts surrounding the given export transaction. Export
    license depends on the nature of goods to be transported as well as the destination port.
    So, being an exporter it is necessary to determine whether the product or good to be
    exported requires an export license or not. While making the determination one must
    consider the following necessary points:

    • What are you exporting?


    • Where are you exporting?
    • Who will receive your item?
    • What will your items will be used?

    Canalisation

    Canalisation is an important feature of Export License under which certain goods can be
    imported only by designated agencies. For an example, an item like gold, in bulk, can be
    imported only by specified banks like SBI and some foreign banks or designated
    agencies.

    Application for an Export License

    To determine whether a license is needed to export a particular commercial product or


    service, an exporter must first classify the item by identifying what is called ITC (HS)
    Classifications. Export license are only issued for the goods mentioned in the Schedule 2
    of ITC (HS) Classifications of Export and Import items. A proper application can be
    submitted to the Director General of Foreign Trade (DGFT). The Export Licensing
    Committee under the Chairmanship of Export Commissioner considers such applications
    on merits for issue of export licenses.

    Exports Free unless regulated

    The Director General of Foreign Trade (DGFT) from time to time specifies through a
    public notice according to which any goods, not included in the ITC (HS) Classifications
    of Export and Import items may be exported without a license. Such terms and conditions
    may include Minimum Export Price (MEP), registration with specified authorities,
    quantitative ceilings and compliance with other laws, rules, regulations.

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