Trade Compliance Audit Pack

Trade Compliance Audit Pack: current Indian law, practical example, evidence checklist, risks and Finin2min summary.

Current-law position: FTP 2023 continues unless specified or amended. DGFT maintains separate live libraries for policy chapters, procedures, notifications, public notices, circulars and trade notices. Classification and policy status must be checked on the transaction date.

Finin2min crux

A defensible audit joins policy eligibility, portal filings, physical movement, accounting and realisation.

Legal anchors

FTP, HBP, customs, GST and FEMA cross-links

The legal conclusion must be read with the current rules, notifications, portal instructions and binding judgments applicable to the event date.

How to analyse it

1. Applicability

Identify the person, activity, location, transaction date, threshold and regulator before applying the rule.

2. Statutory condition

Separate mandatory legal conditions from portal fields, industry practice and contractual preference.

3. Evidence

Link each conclusion to contemporaneous documents, approvals, filings and accounting records.

4. Action

Use one licence and shipment control tower.

Practical illustration

A group performs a licence-wise annual audit before statutory and customs reviews.

Decision point: Reperform the analysis if a material fact, date, location or legal status changes.

Evidence pack

IEC and RCMC records
purchase order and commercial contract
ITC(HS) classification note
shipping bill, bill of entry and invoice
licence, authorisation, eBRC and export-obligation evidence

What can go wrong?

Fragmented ownership across teams causes duplicate benefits and missed obligations.

Additional risks include stale source use, incomplete authority, inconsistent portal data, weak contemporaneous evidence and failure to consider linked tax, accounting, contract or sector rules.

Finin2min action workflow

Stage	Control	Output
Facts	Freeze transaction, party, date and location	Fact sheet
Law	Read Act, Rules and later instruments	Legal map
Evidence	Reconcile filings, books and documents	Evidence index
Decision	Approve, remediate, disclose or escalate	Signed action note

Quick Q&A

What is the direct answer?

A defensible audit joins policy eligibility, portal filings, physical movement, accounting and realisation.

Which provision should be opened first?

FTP, HBP, customs, GST and FEMA cross-links

What should be preserved?

IEC and RCMC records, purchase order and commercial contract, ITC(HS) classification note.

What is the immediate next step?

Open official source

Source reviewed 4 July 2026

Law, portal and source review: 4 July 2026. Case law and transaction-specific conditions should be checked immediately before professional reliance.