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It's high time govt worked with trade to revive economy

The government cannot turn a blind eye, as if there were no errors on the GSTN portal

Better to file bill of entry before arrival of vessel, say expert

It is always desirable to file the bill of entry well before arrival of the vessel and get the assessment through

Small businesses still waiting for stimulus package

The fall in March trade figures is only the beginning of a trend that is likely to continue in the first quarter of this fiscal year

Coronavirus outbreak: Traders should highlight issues to get govt's help

The govt is trying to identify areas where relief by way of simplifying procedures or extending the deadlines can be provided

Force majeure does not extend expiry dates in letters of credit: Expert

A bank will not, upon resumption of its business, honour or negotiate under a credit that expired during such interruption of its business

Rupee payments allowed for exports to Bhutan under RBI guidelines: Expert

Acceptance of LUT for supplies of goods or services to countries outside India will be permissible irrespective of whether the payments are made in Indian currency or convertible foreign exchange

Coping during uncertain times

The fear of a severe economic impact from the pandemic hit the financial markets that had ignored interest rate cuts by central banks in many major economies

Virus forces world to rethink strategy

Developing more sources of supplies to guard against disruptions may emerge as the next big trend. But with what's happening in Delhi, India stands to lose out on a chance

'Export incentives available on rupee payment through Vostro account'

That PN does not extend the first block or final EO period. It only relaxes the period within which you can ask for extension of first block or final EO period.

Trade wants GST Council to change late payment rule

Demands on the basis of gross tax liability can be held in abeyance

Redefining law on exemptions

The Customs department so made the software in its Electronic Data Intercharge system that when exemption from BCD was claimed by presenting such scrip, the system automatically allowed it by a debit

New year begins on positive note

The government's new year gift is extension of the time limit to avail of the service tax and central excise dispute resolution scheme by 15 days

Year closes on a gloomy note

Export, import, private investment, domestic demand, direct tax revenue, and indirect tax collection all show a declining trend

Need for correct Incoterm usage can't be overstated, says expert

Incoterms clearly define the obligations of the seller and buyer, when the risk passes from seller to buyer and who bears what costs

Revised Incoterms take effect from Jan

The latest revision retains the 11 delivery terms in the current Incoterms 2010 version. The only change being that Delivery at Terminal is being replaced with Delivery at Place Unloaded

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