Foreign Trade Policy Assistance | KPMG | IN
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Foreign Trade Policy Assistance

Foreign Trade Policy Assistance

Identify the potential benefits available under a particular FTA/FTP based on the company’s

Identify the potential benefits available under a particular FTA/FTP based

Customs & Foreign Trade Policy Assistance

1. Improvement of benefits on imports or exports under Free Trade Agreement (FTA)/Foreign Trade Policy (FTP)

  • Advise and assist in claiming the potential benefits on imports from specified countries under a particular FTA.
  • Advise and assist on availing incentives on export of goods or services from India under various schemes of FTP.

Setting up of business in SEZ/FTWZ/EOU/STPI or migration from STP/EOU to SEZ

  • Assistance in preparation of application in the prescribed form for obtaining unit approval
  • Guidance in drafting of project report providing the requisite information on the project
  • Assistance in drafting and submission of responses and clarifications sought by the Unit Approval Committee with respect to the unit approval
  • Assistance in obtaining a letter of approval from the Unit Approval Committee on a best effort basis
  • Assistance in obtaining a bond-cum-legal undertaking for bonding of premises

Exit from SEZ/EOU/STPI schemes

  • Advisory assistance with respect to exit process and compliances
  • Providing a check-list of documents and information required for the preparation of the application to obtain in-principle approval from the authorities
  • Review of present status of compliances, application for surrender of other registrations like Importer Exporter Code, GST, Registration Cum Membership Certificate
  • Assistance in obtaining approval of SEZ and Customs authorities for de-bonding of goods and exit from SEZ

Obtaining operational approval e.g. shifting from one SEZ to another, setting-up of BCP site, sharing of infrastructure between two units

  • Advisory assistance with respect to permissibility of these services
  • Assistance in preparation of application for aforesaid approvals
  • Assistance in meeting with authorities and responding to their queries

2. Valuation inquires by Indian Customs

This service is relevant for companies having transactions with their related entities, i.e. import of goods from group entities or import transactions with year-end adjustments. In this regard, our services include the following:

  • Advice on valuation methodology adopted by the company
  • Assistance in preparation and review of the questionnaire and other documents to be filed with Special Valuation Branch (SVB)
  • Assistance in replying to the additional queries raised by the SVB after filing of questionnaire
  • Assistance in filing of written submissions/synopsis before the SVB authorities
  • Interregnum support on specific issues like discontinuance of extra-duty deposit, interaction at the ports

3. Obtaining Authorised Economic Operator (AEO) accreditation

In accordance with SAFE framework of WCO, Indian Customs grant AEO accreditation to companies having robust internal control systems for a secured international supply chain. AEO accreditation holders are entitled for inter-alia deferred payment of duty, faster clearance of goods, direct port delivery of goods, dedicated relationship manager at Customs, etc. In this regard, our services include the following:

  • Pre-evaluation of activities and processes to ensure readiness
  • Assistance in mapping the activities and preparation of Standard Operating Procedures and other documents
  • Assistance in preparation and filing of AEO application and the relevant supporting documents
  • Assistance during on-site visit by authorities
  • Assistance in responding to queries of authorities

4. Trade remedial duty (e.g. anti-dumping duty, safeguard duty) investigation

India levies anti-dumping duties and safeguard duties to protect domestic industries from imports from other countries. These duties are levied after detailed investigations under Indian Customs law. In this regard, our services include the following

  • To domestic industry- Assistance in preparation of petition for levy of anti-dumping duty/safeguard duty on any product
  • To importers- Assistance in preparation and filing of the response to the questionnaire issued by the authorities on the allegation of domestic industry
  • Response to additional queries raised by the authorities and assistance during on-site visit by authorities
  • Assistance during preliminary and final hearing by the authorities

5. Investigation by Customs and DRI

We assist importers and exporters with investigation by Customs and DRI authorities on allegations of evasion of customs duty. In this regard, our services include the following:

  • Advise with respect to position taken by the company on their transaction w.r.t classification, valuation, duty rates, etc.
  • Advising on preparation of response to queries by the authorities
  • Assistance in evaluating alternate legal remedies or finalisation of deposit under-protest
  • Assistance during recording of statements of senior personnel of the company by the authorities
  • Assistance in responding to show cause notice issued by the authorities

 

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