Draft ITC(HS) Based Export Policy 2019
Released
The Commerce Ministry
has come out with a comprehensive draft of the export policy that includes
product-specific rules to provide a ready reckoner for exporters.
“Based on inputs
received from various partner government agencies, it is proposed to bring out
a comprehensive exports policy for all ITC (HS) tariff codes (including items
which are ‘free’ for export and do not currently exist in the policy), covering
conditions/restrictions imposed by partner government agencies on exports,” the
Directorate General of Foreign Trade said.
The draft policy is aimed at consolidating the export norms for each product
as applicable at different government agencies.
ITC-HS Codes are
Indian Trade Clarification based on Harmonised System
of Coding. It was adopted by India for import-export
operations. Every product has been accorded an eight digit
HS code.
The compendium will
help an exporter know all the applicable norms pertaining to a particular
product.