Duty Free Import Authorization (DFIA)

Posted on 06 April 2023     Category : Export incentives and benefits

Duty Free Import Authorization

 

 

The information provided here is part of Export Import Training online

 

Duty Free Import Authorization (DFIA):

a. Duty Exemption Pass Book (DEPB):

This is another assistance by government to help exporters in importing raw materials. Recently, the said scheme was withdrawn by government.

b. Duty Drawback.Duty drawback is another financial assistance given to exporters.

 

 The above information is a part of Import Export online Training

 

Other information about Export importt tutorial

 

What is Brand Rate in Duty Drawback
Post shipment finance in Export Business
Advance Authorization schemes (AAS)
Export Finance a key factor in Export trade.
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Click here to know India Trade Classification(ITC)
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Export Import Policy of India 2015-2020
MEIS, Merchandise Exports from India Scheme
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Merge your Commercial Invoice and Packing List for all your future exports

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The role of bill of exchange in import export business

The role of CBEC - Central Board of Excise and Customs in India.

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Comments


Vasil Polishcuk: On 13 February 2015 I am an Expoter"Seller" from Ukraine who is new / NOVICE to the LC payment System. I have been dealing with / accepting T/T Payment for my goods, but now a days potential clients wants to Pay me Only by "100% L/C Irrevocable" so i am now trying to consider accepting this system of Payment now . Please i need your help in clarification on the word " To draw DRAFT " ( Is a DRAFT amongst the Required documents i need to present to my Ukraine BANK in order to get PAID from the L/C once i have made shipment of the Goods ??? ) what does this mean " to DRAW DRAFT " ?? I have studied some L/C sample and i have noted that some of the most common Required documents for collecting Payment on L/C are : (1) 3 Originals and 3 ADDITIONAL Copies of B/L Document. (2) Original of SGS inspection Certificate (3) 3 Originals of Seller's COMMERCIAL INVOICE. (4) Original of INSURANCE Certificate ( if CIF Shipment) Now, the Question is : Do i need to DRAW a DRAFT " payment DRAFT" and Present to My Ukraine BANK together with the ABOVE Mentioned Documents ??? (A) Would i NOT get PAID if i only submit the Above Mentioned Documents Mentioned in the L/C to my Ukraine BANK without "Payment Draft" ??? (B) Is it MY Ukraine BANK that would have to PAY me the Money ??? Or, My Ukraine BANK's Duty is only just to Transfer the completed DOCUMENTS to the Buyer's Bank overseas and then Wait for the Buyer's Bank Overseas to send the Money "Payment" to My Ukraine BANK " My Bank Account" ???

Abhilash H.G: On 16 February 2015 I am working in one of the freight forwarding company as an asst.executive(operations) from last one year.So your articles are very usefull to me and i have learnt a lot of usefull things from your website.So my enqiry is that is there any courses and classes are conducted to learn more about this system.If it is conducted please inform me

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