Commerce Ministry’s DGFT Authorised For Allocation Of TRQ Items Under India-Nepal Treaty
Commerce Ministry’s DGFT Authorised For Allocation Of TRQ Items Under India-Nepal Treaty
It said the allocated quota to each manufacturer/exporter on a quarterly basis would be communicated by the designated authority of Nepal to DGFT
The commerce ministry’s arm DGFT ( Directorate General of Foreign Trade) has been authorised to allocate and monitor imports of 10,000 tonnes of copper products and 2,500 tonne of zinc oxide from Nepal under a concessional customs duty provision of a treaty between the countries, according to a public notice.
The directorate general of foreign trade (DGFT) will be the designated authority for allocation and monitoring of all TRQ (tariff rate quota) items under the revised India-Nepal Treaty.
Under TRQ, a specified quantity of an item is allowed for export or import at concessional customs duties. Beyond that quantity, the product attracts normal duties.
“DGFT is authorised for allocation and monitor of 10,000 million tonnes of TRQ of copper products…and 2500 million tonnes of zinc oxide from Nepal,” the public notice said on Thursday.
It said the allocated quota to each manufacturer/exporter on a quarterly basis would be communicated by the designated authority of Nepal to DGFT.
Imports will be permitted through the land customs stations at Kakarbhitta/Naxalbari; Biratnagar/Jogbani; Birganj/Raxaul; Nepalgunj/Nepalgunj Road and Mahendranagar/Banbasa, it added.
“The Indian importer shall file online application for TRQ certificate on the DGFT website,” it said adding the TRQ certificate will be valid for 12 months.
DGFT deals with exports and import related issues of the country.
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