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Govt authorises DGFT for allocation of TRQ items under revised India-Nepal Treaty
NEW DELHI: The Directorate GeneralofForeignTrade(DGFT)will be the designated authority for allocation and monitoring of all TRQ (tariff rate quota) items under the revisedIndia-NepalTreaty.
The Commerce Ministry’s arm DGFThasbeenauthorisedtoallocate andmonitorimportsof10,000tonneof copper products and 2,500 tonne of zinc oxide from Nepal under a concessional customs duty provision of a treaty between the countries, accordingtoapublicnotice.
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The DGFT will be the designated authority for allocation and monitoring of all TRQ (tariff rate quota) items under the revised IndiaNepalTreaty.
UnderTRQ,aspecifiedquantityof anitemisallowedforexportorimport at concessional customs duties. Beyond that quantity, the product attractsnormalduties.
“DGFTisauthorisedforallocation and monitor of 10,000 MT of TRQ of copperproducts…and2500MTofzinc oxide from Nepal,” the public notice saidonThursday.
It said the allocated quota to each manufacturer/exporter on a quarterly basis would be communicated by the designated authorityofNepaltoDGFT.
Imports will be permitted through the land customs stations at Kakarbhitta/Naxalbari; Biratnagar/Jogbani; Birganj/Raxaul; Nepalgunj / Nepalgunj Road and Mahendranagar/Banbasa,itadded.
“The Indian importer shall file online application for TRQ certificate on the DGFT website,” it said adding the TRQ certificate will be valid for 12months.
DGFT deals with exports and importrelatedissuesoftheCountry.
