Page 21 - Tnc Rajagopalan

GST Council does some corrections

The GST Council has shown willingness to listen and make necessary course corrections

'Benefits on supplies from DTA linked to payment in foreign currency'

RoSL scheme has been brought back for a limited period

Making rebates WTO-compatible

Under RoSCTL, except for some items containing cotton, the rates are between 1.7 and 3.6 per cent of the FOB value of export

Hesitancies in an RCEP deal

The major fear of Indian businesses is that the mega deal will give duty-free access to other nations, especially China, resulting in a surge in import of manufactured goods

'EOU can clear unused raw materials in DTA, or transfer to another unit'

That trade notice cannot override the FTP notified on December 5, 2017

Exporters still face various problems

Hopefully, the government will take note and make life easier for exporters

Taking action on adverse feedback

The government has sent a clear message that it is listening and is willing to take the necessary steps to revive the economy

Newer language of global trade

Incoterms are invariably incorporated in all international contracts for sale of goods

Consideration and the levy of export tax

Exporters should review all situations where goods are sent abroad without any payment made or to be made

'EOUs can import goods from Pakistan without paying customs duty'

The 5/2019 notification grants exemption on goods imported by EOUs from the whole of customs duty leviable thereon under the First Schedule to the Customs Tariff Act, 1975

Amnesty offer for pre-GST litigation

The scheme is attractive, since the tax relief is 40-70% of the amount in dispute

What do GST rules say about refund for exporting goods and their payment

TNC Rajagopalan explains GST rules on exports and scrips.

Paper praise not enough for WTO

The US has invoked national security concerns and threatened to raise tariffs on more Chinese goods worth around $325 billion

After Trump's China action

China's rise has been a source of concern for many other countries, too, and any prospect of flight of capital from there is good news for many of these, all hoping to attract the investments

Export of sample is zero-rated in accordance with Section 16 of IGST Act

'AD Cat I banks may close BoE for import deals where write-off is for quality issues'

Finance Ministry somewhat closer to reality

In its February report, the ministry had said growth was consumption-driven in recent years and growth in consumption was unyielding

Iran development a warning signal

India has tried to reduce dependence on oil by encouraging renewable sources of energy and production of electric cars and buses

Signs of hope on the export front

Twenty of the 30 major product groups were in positive territory for March, most of these showing impressive growth

BJP manifesto lacks road map to meet promises

Doubling the total exports by 2022 is one of the aspirations of the manifesto

Deep post-election change unlikely

It is easy to promise removal of restrictions on export and import of agricultural products but difficult to do so