Page 10 - Tnc Rajagopalan

India-Canada row: Quiet diplomacy can achieve a lot more

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

Difference between AIR of DBK & actual duty incidence can be rebated

You have to make appropriate declarations in the shipping bill and then file the brand rate fixation application to your jurisdictional authorities

On trade, Delhi G20 improves over the Bali declaration

It is near certain that the United States is reluctant to clear the way for appointment of members to the appellate body and thus revive the dispute settlement mechanism at the WTO

QCOs act as NTBs; raise compliance burden and costs

The products under QCOs must conform to the corresponding standard and must bear the standard mark under a licence or certificate of conformity (CoC) from BIS

CHATROOM: DGFT should review circular on sale of IPA from SEZ to DTA

Section 4(1) of the Competition Act, 2002 says that no enterprise or group shall abuse its dominant position

Brics enlargement in hope of getting heard

The Brics leaders opposed trade barriers, including those under the pretext of tackling climate change, imposed by certain developed countries and reiterated their commitment to enhancing coordination

Chandrayaan-3 success opens fresh opportunities for our businesses

It is now for the Indian businesses, Isro and other scientific establishments to capitalize on the well-publicized success of Chandrayaan-3

Computer import curbs not part of FTP Principles of Restrictions

The duty rates on computer software and hardware were cut to zero after India became a signatory to the Information Technology Agreements (ITA-1 and ITA-2) at the World Trade Organisation

CHATROOM: Second beneficiary cannot transfer LC to another, says expert

Section 143 of the CGST Rules, 2017 allows sending any inputs or capital goods, without payment of tax, to a job-worker for job work and from there subsequently to another job-worker and likewise

Ahead of I-Day, optimism, but concerns abound

Another significant achievement is the adoption of information technology (IT) to improve various processes in the government and businesses

CHATROOM: 'Customs should reveal method used to fix value of export goods'

Rule 1.1 of the FEDAI Rules, 2019 says that the normal working hours of ADs for foreign currency to Indian rupee transactions for clients is 9 a.m. to 5 p.m. on all days, except Saturdays, Sundays

WTO ranks India 18th in merchandise exports

India is ranked 7th in the list of services exporters with exports of $309 billion and 4.4 per cent of global services trade share

CBIC deserves kudos for GST clarificatory circulars

The GST Council has decided to meet again on August 2, 2023, to consider various representations regarding tax rates on services of online gaming, casinos, and horse racing

CHATROOM: 'CBIC should tweak legal provisions for SEZ to DTA sales'

Firstly, it is not correct to say that the B/E is filed on the basis of the proforma invoice

Intent to not lag China is behind moves to promote INR trade

The linking of 'card switches' will facilitate mutual acceptance of domestic cards and processing of card transactions

CGST Rule 89(4) or 89(4B)? Refund issue can snowball into major problem

Rule 96A of the CGST Rules, 2017, allows export of goods without payment of IGST after furnishing a bond or letter of undertaking (LUT)

CHATROOM: 'DGFT should resolve contrary provisions in FTP, HBP quickly'

DGFT Policy Circular no. 11(RE-01)/2001-02 dated 1.10.2001 had clarified that the annual average exports should be maintained till the export obligation is completed

India should move towards complete convertibility of rupee

The IDG believes that CAC is not a pre-condition for internationalisation of INR, or vice-versa, and makes several recommendations over the short-term and medium-term horizons

Centre should spell out reform agenda, take everyone along

When the minority government of Narasimha Rao was formed on June 21, 1991 after the general elections, very few expected major initiatives

Chatroom: 'Interest can be claimed on delayed payment of drawback'

You can claim interest on the pre-deposit amount in accordance with Section 129EE of the Customs Act, 1962