Tnc Rajagopalan

Union Budget 2026-27 surprises that faded amid India-US trade deal noise

The most visible reform that affects all international travellers arriving in India and a pleasant surprise is the introduction of the Baggage Rules, 2026

FTP Para 4.14 vs Para 2 of 22/2023-Customs, mismatch trips importer

Customs notifications override FTP provisions on duty exemptions, while advance authorisation imports can bypass MIP for deemed exports if inputs aren't sold in the DTA

Exim Matters: Trade deals help but competitiveness delivers export growth

As India courts global trade deals like the EU pact, the Economic Survey flags competitiveness-not protection-as the real key to sustainable export growth

Exim Matters: Republic Day, Customs Day and limits to executive power

On Republic Day and International Customs Day, a reminder that vigilance in enforcement must remain anchored in constitutional limits, due process and the rule of law

SME chatroom: Para 4.15 of FTP vs ANF 7A - Procedure defeats policy intent

DGFT procedures and ANF 7A requirements risk undermining Foreign Trade Policy benefits, raising concerns over deemed exports, duty drawback claims and delayed rollout of interest subvention

'A spirit of dialogue' at WEF, Davos, amid Trump's unilateralism

As donald trump completes one year of his second term, the world economic forum at davos opens amid rising tariffs, geopolitical fragmentation and a renewed push for global dialogue

Reimport after 1 year: Need permission under notification 45/2017-Cus

Exporters can reimport goods after one year under notification 45/2017-cus by surrendering duty drawback and rodtep benefits, subject to customs approval

Strong start to year but deregulation holds key to competitiveness

From the finance ministry came a mix of revenue-raising and trade-defence actions. Taxes on tobacco products will increase from the beginning of next month

2025: When multilateralism weakened, but global trade remained resilient

In 2025, multilateral trade rules weakened as the US raised tariffs, yet global trade stayed resilient, led by strong supply chains, China's leverage and India's adaptive policy response

AIA: Notification 21/2023-Cus more useful for advance authorization

Para 5.04 (f) of the FTP clearly says that 'eexport obligation may be fulfilled both by physical exports as well as deemed exports'

Exim matters: US reform proposals challenge WTO's basic principles

US proposals to reform the WTO question core principles like MFN and special treatment for developing nations, deepening divisions and raising doubts over the future of rules-based trade

Beyond digital fixes: Why Indian Customs needs an integrity overhaul

Corruption persists despite automation; calls grow for accountability, staff protection, and evidence-based reforms

Chatroom: No GST on sale of uncleared imported goods at ports currently

Importers can transfer goods via bill of lading endorsement without GST if done before customs clearance, while RBI allows simplified closure of small outstanding IDPMS entries

Exim Matters: India-Russia targets are big, but businesses are cautious

While bilateral targets are ambitious, exporters wary of payment, logistics risks; deeper ties with West still drive business pragmatism

Quality control order rollbacks should be the start of bigger cleanups

The government defers quality control orders on steel and chemicals, signaling a shift from a protectionist trade regime that hurt downstream industries

MSME participation in AEO programme grows but more awareness needed

A joint WCO-ICC-WTO report says awareness gaps, procedural complexity and uneven benefits still limit MSME participation despite recent improvements

Export subsidies will help but we should aim to be globally competitive

The scheme will be implemented through the Directorate General of Foreign Trade (DGFT)

EOUs need not debit anti-dumping duty to the B-17 bond at import stage

TNC Rajagopalan answers SME queries related to GST, export and import matters

Customs allows post-clearance revisions - of course, conditions apply

New CBIC rules let importers and exporters voluntarily revise shipping bills and pay or claim duty differences after clearance

India watches as US President Donald Trump engages with East Asian leaders

The Directorate General of Foreign Trade (DGFT) announced the launch of Bharat Aayat Niryat Lab Setu