Page 14 - Tnc Rajagopalan

'Proving identity of re-imported goods essential for claiming exemption'

Funds held in the foreign currency accounts of SEZ units cannot be loaned or made available to any person or entity resident in India, not being a unit in Special Economic Zones

Centre extends RoDTEP to more sectors, but refund woes remain

Exports under advance authorisation scheme and by export-oriented units, units in special economic zones and manufacturing goods in bonded warehouses are excluded from the scheme

Draft DESH Bill seeks to bail out SEZ units

There is nothing in the said Bill to suggest that it will contribute to enhancement of export competitiveness

WTO calls for free trade in goods to cope with climate change

The WTO report argues that trade is part of the solution for achieving a low carbon, resilient, and just transition

India should nudge US to appoint judges to hear appeals at WTO

Dispute settlement is the central pillar of the multilateral trading system, and the WTO's unique contribution to the stability of the global economy

Chatroom: 'Export incentives available on payments received through SVAs'

Export invoicing in INR is already allowed but the payment must come through Vostro Accounts maintained by foreign banks with a bank in India

FM should clear the air on 'pre-import' matter

The Customs have started sending show-cause notices (SCN) to several exporters alleging violation of 'pre-import' condition in case of imports without payment of IGST under advance authorisations

Globalisation a must for action on climate change

Freer flow of goods, services, technologies, finance and people is essential to deal with the challenges of climate change

Upbeat mood in India decoupled from pessimism in rich countries

To combat the cost of living crisis, the central banks of most countries have raised interest rates and curbed excess money supply

RBI optimistic on the state of economy

Bank credit is increasing by double digits and the sustained surge in goods and service tax collections is signalling growing formalisation of the economy

Chatroom: 'Drawback of IGST also available on re-export of imported goods'

This is subject to submission to Customs a certificate from the local GST officer that input tax credit has not been taken, and no refund of such ITC or IGST paid on the goods has been claimed

Importers still wait for clarity on expanded scope of IGCRS Rules

The new rules now say they come into play even in situations where the notifications prescribe end use of imported goods but do not specifically prescribe application of the new rules.

Need for rules to assist imported goods valuation unclear

The draft rules specify 11 types of imports that will be exempted from application of the rules

Chatroom: 'After imposition of moratorium, IBC prevails over Customs laws'

After initiation of CIRP, the liquidator can secure the imported goods from the Customs to be dealt with appropriately in terms of the IBC

FTP extension gives time to rethink present policies

The commerce ministry should rethink its strategy of walking away from multilateral/regional trade negotiations and getting into more and more bilateral trade agreements

Fears of weaker rupee, higher inflation worsen

The Finance Ministry increased the validity of electronic duty credit scrips under various schemes to 24 months, giving more flexibility to exporters

'AIR DBK available on goods made solely from domestic inputs'

As a matter of rule, no evidence of actual duties suffered on imported or indigenous nature of inputs used, even if the AIR has customs portion, should be insisted upon by field formations

FIEO plea for sops at odds with govt view

It is difficult to understand why the exporters want the taxpayers' money to further their businesses

Export momentum dissipating but new opportunities opening up

Speculation on what the new Foreign Trade Policy, to be unveiled this month-end, may contain has engaged the attention of exporters and importers

SME Chatroom: 'Assessable value can be different from invoice value'

There is a specific box in the bill of entry for Free of Charge (FOC) imports