Enlistment of an Indian Agent of Foreign Principals under the ‘Compulsory Enlistment Scheme’ of the Department of Expenditure of the Ministry of Finance is mandatory.
Dear Importer,
This is to bring into your attention that Ministry of Finance, India has made it mandatory to an Indian Agent of Foreign Principals under the ‘CompulsoryEnlistment Scheme’ of the Department of Expenditure of the Ministry of Finance. Vide CIRCULAR NO.12 Dated: 17 September 2009 of DGS&D . According to the circular , the Enlistment with DGS&D as an Indian Agent of Foreign Principals under the ‘Compulsory Enlistment Scheme’ of the Department of Expenditure of the Ministry of Finance compulsory. In terms of the Ministry of Finance Department of Expenditure O.M.No.F.23(1- EII (A)/89 dated 31.1.89 followed by their O.A. No.F.23(1)-EII(A) dated 24.11.89 and also in terms DGS&D Manual para 9.8.2(i) , DGS&D has been enlisting Indian Agents of Foreign Principals.
Due to changed economic scenario owing to liberalized economic policy and free importation of goods in the recent past, questions were raised as to whether the scheme was still relevant and whether the objectives set out were met. The matter was therefore referred to Department of Expenditure, Ministry of Finance for a review of scheme. In the meantime, DGS&D continued to enlist Agents of Foreign Principals only for such items which fall under the restricted list of Foreign Trade policy vide circular dated 11.2.2004 referred to above under intimation to Department of Expenditure.
Department of Expenditure however, intimated that the Scheme as stipulated in Rule 143 of GFR 2005 has been retained without any change after considering all aspects and requested DGS&D to enlist Indian Agents as per provisions of new GFR.
Accordingly, DGS&D will henceforth enlist Indian Agents of Foreign Principals for all items except for the prohibited items as per the Foreign Trade Policy of Govt. of India. Such enlistment shall however have a provision that onus for verifying the authenticity of agency agreement or the validity of authority to import or compliance
of any statutory requirements of import or the quality of the stores to be supplied rests with the purchasers.
The application form and enlistment certificate have been updated and revised accordingly. For all enlistments in future, only revised forms shall be used (copies enclosed).
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We Provide Consultancy, Documentation and Liasoning for compulsory Enlistment with DGS&D as an Indian Agent of Foreign Principals under the ‘Compulsory Enlistment Scheme’ of the Department of Expenditure of the Ministry of Finance.
We can help you to get you registered with DGS&D for the above compliance. For more details call us to discuss how we can help you or visit us at www.vitalconsulting.co.in
Sincere Regards,
Rakesh Dwivedi
Head-Strategic Business
VITAL CERTIFICATIONS AND BENCHMARKINGS (a division of VITAL CONSULTING)
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