Page 6 - Tnc Rajagopalan

Traders must classify imports of lab chemicals under appropriate heads

In an Ex-W contract, the obligation of the seller is to make the goods available at the named place and give notice to the seller. The obligation of the seller is to take delivery at the named place

Export-oriented units struggle, unhappy with new IGCRS e-process

Most of the EOUs are unhappy with the way the CBIC has tried to push through the new processes without adequate preparation

Enabling IGCRS rules for EOUs electronically to cut transaction costs

The EOUs should quickly familiarise themselves with the new procedures and raise any doubts/difficulties with the CBIC and ICEGATE, preferably before the coming Wednesday

DBK Brand Rate applications to be filed with Customs at the place of export

Safeguard duty, countervailing duty on subsidized articles and anti-dumping duty are levied under Sections 8B, 9 and 9A respectively of the Customs Tariff Act, 1975

Kudos to CBIC for dropping difficult CGST Rules, reducing compliance burden

When goods are exported without IGST payment under bond or letter of undertaking, the ITC of GST paid on related inputs and input services remains unutilised

World Bank's India Development Update unlikely to be taken seriously

At home, there is general irritation with reports from any agencies based outside the country, especially if the report is unflattering and preachy

EOU's B-17 bond serves purpose of continuity bond under IGCR Rules

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

Value proposition is key to the success of e-commerce export hubs scheme

The draft modalities are quite detailed but these will need suitable vetting by the revenue department

US elections: Donald Trump, Kamala Harris focus more on domestic issues

Kamala Harris has so far not talked much on trade matters, except criticising Trump's plans to hike tariffs on imports as inflationary

No duty relief for import of goods to help Wayanad landslide victims

Prefabricated buildings fall under the tariff heading 9406. Modular building units of steel fall under the tariff line 94062000. All the items under the heading 9406 can be imported freely

Need far-reaching reforms for India to be developed nation

Since 1990, 34 middle-income economies covering only around 250 million people have managed to shift to high-income status

India needs to do more to win over people of Bangladesh

India must do more, such as helping its economy revive, to win the minds of people in Bangladesh.

Chatroom: EGM proof required under IGST Rate Notification 41/2017

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

Govt must take note of CEA's warning on China

Our government is best placed to assess national security considerations and determine the extent of access we should give to Chinese goods and investments

Economic Survey pessimistic on export growth prospects

In an era when global economic growth is likely to be buffeted by geopolitical tensions and protectionism, growing India's exports of goods and services will be a stiffer challenge than before

Home consumption's bill of entry can be substituted with 1 for warehousing

Any option for making supplies without GST payment is not available for such deemed exports

Useful WIPO guide on Trade Secrets and Innovation

Exporters invest lots of time, effort and money in finding customers and developing products to meet the requirements of the buyers

More instructions on FTA-COO for claiming exemptions

For availing exemptions under FTAs, the importers have to obtain certificates of origin (COO) from the sellers

Chatroom: Remittances below $25,000 also need Form A2 now

The RBI has only put up the draft directions on exports and imports of goods and services for public response. The directions would be finalised only after receiving feedback from stakeholders

RBI's draft trade norms envisage more discretion for ADs

ADs will handle the documents of a 'caution listed' exporter only against full advance payment from the buyer or irrevocable letter of credit