Handlooms, Handicraft, Leather, Marine, Sports Goods and Toys sectors provided duty free entitlements
New Delhi, May 29 (KNN) The labour intensive sectors which are mostly micro, small and medium enterprises (MSMEs) like Handloom, Handicraft, Leather, Sports Goods etc have been provided with duty free entitlements with effect from July 1, 2017.
With a view to expand employment opportunities, certain special focus initiatives for Handlooms, Handicraft, Leather, Marine, Sports Goods and Toys sectors are required, Directorate General of Foreign Trade (DGFT) has said.
These sectors are being provided certain duty free (only basic customs duty free with effect from 01.07.2017) entitlements.
For this, a new para has been inserted in the Foreign Trade Policy 2015-2020 with effect from April 1, 2015.
For Handlooms, duty free import entitlement of specified trimmings and embellishments upto S% of FOB value of exports during previous financial year has been included. Handloom and made ups are included for the entitlement.
Duty free import entitlement of hand knotted carpet samples upto 1% of FOB value of exports during previous financial year has also been included.
For Handicrafts, duty free import entitlement of tools, trimmings and embellishments upto S% of FOB value of exports during previous financial year is being provided.
Entitlement shall extend to merchant exporters tied up with supporting manufacturers.
Handicraft EPC is now authorized to import trimmings, embellishments and consumables on behalf of those exporters for whom directly importing may not be viable.
For Leather and Footwear, the new provision extends duty free import entitlement of specified items upto 3% of FOB value of exports of leather garments during preceding financial year.
Duty free entitlement for import of trimmings, embellishments and footwear components for footwear (leather as well as synthetic), gloves, travel bags and handbags upto 3% of FOB' value of exports of previous financial year will also be given.
Such entitlement shall cover packing material, such as printed and non-printed shoeboxes, small cartons made of wood, tin or plastic materials for packing footwear.
For Marine Sector, Duty free import of specified specialised inputs/chemicals and flavouring oils is allowed to the extent of 1% of FOB value of preceding financial year's export.
For Sports Goods and Toys Duty free import of specified specialised inputs allowed to the extent of 3% of FOB value of preceding financial year's export.
However, DGFT clarified that the term "Duty" specified in this shall mean "Basic Customs Duty" w.e:f 0l.07.2017. (KNN Bureau)
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