Hi, The DGFT in India has issued a notification regarding the change in import policy from FREE to Resricted for Import of some Fabric items, the condition is that the minimum import price shuld not be less then 3.50 usd per kgs. (copy of notification is attached herewith)
As per my Point of view it seems impractical, Because when or if the buyer or importer is getting lower price for any products from their supplier then why they will pay more? and why should the import invoice can be overbalued ?
Instead of it should be stated for minimum import assessment value for duty collection if the DGFT seems its undervalued. or put ADD on such products
Please share your views and comments if any one agree with our question and solution, also pls share another solution or suggestions if any have.