The Director General of Foreign Trade (DGFT) has issued a trade notice regarding the export policy of rice.The government changed the export policy for broken rice from "free" to "prohibited" with immediate effect by notification dated September 8, 2022, which was followed by trade notices dated September 28, 2022.The DGFT received complaints about rice (5% and 25%) have been made, claiming...
The Director General of Foreign Trade (DGFT) has issued a trade notice regarding the export policy of rice.
The government changed the export policy for broken rice from "free" to "prohibited" with immediate effect by notification dated September 8, 2022, which was followed by trade notices dated September 28, 2022.
The DGFT received complaints about rice (5% and 25%) have been made, claiming that irrevocable letters of credit that were issued before September 8, 2022, are also being stopped at the ports.
The DGFT has clarified in Trade Notice No.17/2022-23, which has been superseded, that rice (5% and 25%) is already exempt as it is not broken rice but normal rice with permissible limits of broken rice as per standards. However, according to the notification, there will be a 20% duty.
"Accordingly, in supersession of Trade Notice No. 17/2022-23 dated September 28, 2022, it is clarified in respect of normal rice that "Rice (5% and 25%) is already exempted as it is not broken rice but normal rice with permissible limits of broken rice as per standards. However, it will carry 20% duty as per notification", the trade notice read.
Trade Notice No. 18/2022-23
Dated: 4.10.2022