Dated – 08/06/23
The Supreme Court of India passed its final judgement regarding the implementation of the directions for the pre-import condition on 28th April 2023. This pre-import condition comes in the concern of civil appeal no 290 of 2023. The Directorate General of Foreign Trade introduced the trade notice on 08/06/23 to notify importers and exporters regarding the same.
According to the trade notice released by the DGFT, all importers and exporters must meet the ‘pre-import condition’ that has been included under para 4.14 of the 2015-20 foreign trade policy. Also, this ‘pre-import condition’ has been reflected in notification no 79/20 17-customs which is related to the Advance Authorization Scheme.
The CBIC on 7th April 2023 issued a circular no. 16/2023 on this final judgement provided by the Supreme Court of the country. This circular released by Customs has been distributed to proceed with the guidelines and recommendations that have been stated in the judgement passed by the Supreme Court of India regarding the pre-import condition for Indian traders.
In circular no 16/2023 issued by the CBIC, it has been declared that whatever materials are imported for producing final goods or products are covered under the Advance Authorization Scheme (AAS) from 13th of October 2017 to 09 January 2019 could not accomplish the ‘pre-import condition’ can be regularised again by making all the previous due payments as mentioned in the circular.
The Hon’ble Supreme Court has also requested all the DGFT regional authorities for providing excellent guidance to importers and exporters of the country regarding everything that has been mentioned in the circular issued by the CBIC so that they can easily understand it. It is done to provide support to Indian traders and increase the growth of the Indian trade industry.
To go through the trade notice, click here