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TDB Forum Ask A Question January 2017 January 2017 issue

TDB Forum Ask A Question January 2017

In the world of export-import, each shipment counts. And you cannot afford to make any “uninformed investment”. So, if you have any doubt or a question, ask us. Our team of experts at The Dollar Business Intelligence Unit will be happy to answer your queries. Your question(s), if approved, will also be published on www.thedollarbusiness.com, and/or in forthcoming issue of The Dollar Business

I want to import copper wire scrap. Do I need any licence? How much do I have to pay as import duty? Please advise. (Kartik Trivedi, Manager, Chemitex Impex Enterprise, Vadodara, Gujarat, +91-7201985XXX, kartik87418@gmail.com)

Dear Kartik: We assume you want to import copper wire scrap falling under ITC HS Code: 740400. Since the import of products under the said six-digit HS Code (except for products falling under ITC HS Code: 74040012) is restricted, you need to apply for grant of an ‘Authorisation’ for import or export of the said items to Regional Authority (RA), with a copy to Directorate General of Foreign Trade (DGFT) headquarters in ANF 2M (as prescribed in Handbook of Procedures) along with documents prescribed therein. Original application along with Treasury Receipt (TR) / Demand Draft needs to be submitted to RA concerned and self-attested copy of same needs to be submitted to DGFT in duplicate along with proof of submission of application to concerned RA.

As mentioned before, copper scrap falling under ITC HS Code: 74040012 can be imported through all ports into the country. However, import of copper scrap falling under the said HS Code also need to fulfil the conditions mentioned under Paragraph 2.54 (b) of the Handbook of Procedure. You can type the following URL in your browser - https://www.thedollarbusiness.com/HANDBOOK_OF_PROCEDURES__2015_2020 and go through the said paragraph to get a detailed understanding of what you need ...

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