DGFT specifies conditions for import of Refined Palm Oil

Apr 14, 2020 | by Avantis RegTech Legal Research Team

Finance & Taxation Compliance

The Directorate General of Foreign Trade (DGFT) on April 13, 2020, has specified the conditions on import of Refined Palm Oil.

Therefore, Import of refined palm oil will be permitted subject to following conditions:

i. Import authorization application should be accompanied with pre-purchase agreement and details of the import for past three years.

ii. Validity period of import licenses or authorizations will be 6 months instead of 18 months.

iii. Total non-utilisation of import authorization by the applicant will lead to disqualification of the importer from getting any further license in future.

iv. Customs will diligently enforce the Rules of Origin criteria for import of refined palm oil, originating from Nepal and Bangladesh.

[Trade Notice No. 2/2020-21] 


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