Live Master Class on Customs Act and FTP

Day 1: Understanding India’s Customs Framework & the FTP 2023 Vision

• Introduction to India’s Customs system: evolution, structure, and functions
• Institutional role of CBIC, DGFT, and port authorities
• Decoding the Foreign Trade Policy 2023: vision, structure, and “Amrit Kaal” priorities
• Key changes in new FTP Policy 2023 and New ICEGATE 2.0 Platform

Day 2: Decoding Product Classification and understanding HSN

• Why Classification and HSN System background
• Interpreting sections, chapters, and explanatory notes
• How to classify a product and understand the HSN system
• Issues and challenges in Classification

Day 3: Requirement for Import in India & Procedure

• Basic requirements for Imports in India
• Understanding the concept of Valuation under Customs
• Procedure of Import and filling of Bill of Entry
• Understanding Customs Duty Calculation for Imports

Day 4: Incentivizing Exports – Duty Exemptions & Export Schemes

• Understanding key schemes: Duty Drawback Advance Authorization, DFIA, EPCG, RoDTEP.
• Choosing the right scheme based on the various benefits
• Structuring exports under multiple overlapping benefits

Day 5: Free Trade Agreements (FTAs) and its usage

• Understanding FTAs and its implications under Export & Import
• Current FTAs signed by India and its advantages
• Interpreting rules of origin: key checkpoints for compliance
• Certificate of Origin and its process, CAROTAR Rules 2020

Day 6: GST for Exports, Deemed Exports & SCOMET Provisions

• Understanding Zero Rated Supply under GST for Exports
• Deemed Exports & its understanding
• Overview of SCOMET for Exports
• Understanding the basics of MOOWR & AEO Scheme