Laws Governing Exports from India: Best Corporate Lawyer Advice
In our country, the law governing export and import is “Foreign Trade (Development and Regulation Act), 1992 (FTDR Act) which has replaced the Imports and Exports (Control) Act, 1947” gives the Indian government the authority to establish export policies and to make orders that forbid or somehow controlling the export of products. Exports and imports are to be "free" unless they are subject to "prohibition," "limitation," or "preferential selling through “State Trading Enterprises (STEs)" as specified in the Indian Trade Classification (Harmonized System) (ITC (HS)) of Exports and Imports, according to the Foreign Trade Policy of India 2015-2020 (FTP)”. The...
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