Page 3 - Tnc Rajagopalan

Exim Matters: On Diwali day, let us look at the brighter aspects

The second good news for me is that the leading IT company Google will invest $15 billion over the next five years to set up an artificial intelligence (AI) data centre at Visakhapatnam in Andhra

Institute Cargo Clauses (A) cover general average and salvage charges

Trade expert cites FTP Para 1.08 and CBIC circulars requiring that export consignments not be detained beyond three days, and clarifies documentation norms under the Advance Authorisation scheme

To build a developed India, RBI must move beyond micromanagement

RBI eases forex compliance: exporters and importers can reconcile smaller bills, merchant traders get longer timelines, and rupee vostro accounts gain investment flexibility

India's trade hurdle: Bureaucrats unchecked, entrepreneurs unheard

The entrepreneur filed her shipping bill for export of certain goods she had been exporting for years

Govt's Q&A on GST refund due to inverted duty rates is controversial

Para 4.26(ii) of FTP says that 'merchant exporter shall be required to mention name and address of supporting manufacturer of the export product on the export document viz. Shipping Bill/ Bill of Expo

Shipbuilding dreams: Subsidies to help but shipyards must be competitive

Almost 90% of global cargo moves through the oceans with China, South Korea and Japan dominating the ship building industry aided by considerable support from their governments

GST reforms: Festival cheer for consumers but many suppliers face IDR

In his Independence Day speech, our Prime Minister announced a Diwali gift by way of significant reductions in the GST rates and simplification of processes

No interest on capital goods cleared into DTA after use in bonded warehouse

Manufacturing in bonded warehouses is covered under Section 65 of the Customs Act, 1962 (CA 62) and Manufacture and Other Operations in Warehouse (No. 2) Regulations, 2019 (MOOWR)

Exporters to take price cuts but hopeful on US-India trade agreement

Retailers, banks and buyers are sharing the burden as exporters frontload shipments, cut prices short term and weigh overseas bases if tariffs persist

GST reforms should be the beginning of more reforms in all laws

Such changes have received sufficient media coverage, and so, I will focus more on certain other aspects

Re-export of goods from DTA to SEZ must get drawback U/S 74 of CA62

I think the CBIC should take note of the difficulties of the trade and amend the definition of 'export' at Rule 2(b) of Re-export of Imported Goods (Drawback of Customs Duties) Rules, 1995.

US tariffs: A wakeup call to improve India's trade competitiveness

It is unbelievable that India's refusal to acknowledge the role of the US in ending 'Operation Sindoor' should lead to such harsh measures

A week of hopes, anxieties and expectations ahead for exporters

President Donald Trump surprised India earlier this month by imposing 25 per cent tariffs on Indian goods entering the US, in addition to the 25 per cent reciprocal tariffs

Govt must resolve SEZ units' problems arising from definition of 'services'

SEZ service exports face DTA payment disputes, GST relief linked to strict compliance, and CBIC eases customs with a single all-India electronic bond system

GST reforms: Suggestions to boost ease of doing business and reduce costs

There should be no restrictions on taking input tax credit (ITC), on the essential principle that once tax is paid, it should either be refunded or go into the ITC chain

Trump tariff impact: No need to be alarmed, this difficult phase will pass

The exporters of steel will be affected, but they have the financial strength to manage the setback. Trump has so far exempted tariffs on pharmaceuticals, electronics, and petroleum products

DGFT should consider re-credit of advance authorisations in some cases

Where irrefutable evidence is available to show that 'certificate of supplies' or 'invalidation letter' has not been utilized, fully or partly, there ought to be no hesitation in granting re-credit

Our tariff, non-tariff barriers should be cut in our own interest

A US trade delegation is expected in India later this month and hopefully, the negotiators will strike a fair deal acceptable to both countries soon

Exim matters: No substantial changes in new law on bills of lading

The bill of lading, issued by the carriers to the shippers, will continue to be a receipt for goods, evidence of the contract of carriage and a document of title to the goods

DGFT should rethink provisions for deemed exports from DTA to EoU

Para 7.01(i) of the Foreign Trade Policy (FTP) says 'deemed exports' for this FTP refer to those transactions in which goods supplied do not leave the country