DGFT amends requirements for TRQ authorization

Aug 29, 2022 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Directorate General of Foreign Trade (DGFT) on August 29, 2022 has issued Amendment in the requirements for TRQ authorization.

The following has been stated namely: -

• The TRQ authorization for specified items shall also contain Importer Exported Code (IEC) of the nominated agencies as notified by RBI (in case of banks) or DGFT (for other agencies) or qualified jewellers as notified by International Financial Services Centres Authority (IFSCA). GST Identification Number (GSTIN) of the jewellery manufacturer to whom TRQ is being issued. The said TRQ importer shall follow the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017.

 

[Notification No. 23/2015-2020]

 


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