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RBI issues draft norms for trade via e-com mode

The roles and responsibilities of the banks and OEIF and the disciplines for operating the import and export collection accounts are clearly spelt out

'Commerce Ministry unaware EOUs are not bonded warehouses'

Apparently, the Commerce Ministry is not yet aware of these changes, and so, the SEZ Rules, 2006, remain unchanged.

Implications of short-term gain of cheap Russia oil must be weighed

So, India should carefully weigh the short term gains of buying cheap oil from Russia against implications of annoying the western alliances

Globalisation a casualty of Russia-Ukraine war

The prolonged war in Ukraine and considerable hardening of attitudes on both the sides can hurt global trade and economy

'Return of advance to foreign buyer after 12 months requires RBI nod'

Therefore, please send a suitable request to RBI, through your bank, explaining the reasons for the failure to export and the delay in sending back the advance within one year.

FTP should be extended for six more months

No new ideas have emerged on what the new FTP should be, despite meetings with the stakeholders through the Board of Trade and Export Promotion Councils

Crisis in Ukraine impacts global shipping industry

The shortage of skilled personnel at the middle and senior levels can hamper the operations of the shipping lines

SME: 'Due date of sight bill should be counted from date of presentation'

What a firm seeking supplies from abroad on credit should do in case there is an error in the contractual documents

Helpful changes in Customs and GST procedures

Many Customs notifications allow imports at lower or nil rates of duty, specified goo­ds for use in the manufacture of specified products

Ukraine crisis aggravates inflation, growth concerns

In recent years, the investments in mining fossil fuels have declined globally due to growing concerns

Restrictive GST rules take effect

Many changes in the GST laws have come into effect from the beginning of this year

Key role for WTO to meet emission targets

The 12th Ministerial Conference of WTO is scheduled to start at Geneva from the end of this month

SME Chatroom: Anti-dumping duty on inputs payable on sales from SEZ to DTA

Business Standard brings you the fortnightly Q&A on SMEs

Shipping industry's zero-emission trials

The key to achieving reduction of emissions is development of alternate fuels by the oil industry

SME Chatroom: 'IGST refund rules for exports by EOUs need to be reviewed'

Business Standard brings you the fortnightly Q&A on SMEs

Ports' right to bar imports needs review

The advisory applies to all terminals operated by APSEZ and third-party terminals at any of its 13 domestic ports in seven maritime states. This decision raises a number of issues

FinMin should review DRI demand for social welfare surcharge

The law is quite clear that SWS is to be calculated at the rate of 10 per cent on the BCD levied and collected

SME Chatroom: 'Defective packaging can imperil marine insurance claims'

Clause 4.3 of Institute Cargo Clauses (C) says that in no case will insurance cover loss, damage or expense caused by insufficiency or unsuitability of packing or preparation of subject matter insured

SME Chatroom: 'ITC available based on IGST payment shown in bill of entry'

In the case of related party transactions, where contemporaneous imports/exports are not available, the matter goes to the Special Valuation Branch for further investigations

Businesses should give useful inputs for FTA negotiations

FTAs have to be signed keeping two things in mind - mutually reciprocal terms and focusing on products and services with maximum export potential