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Bank payment obligations vital for international trade

Time for importers, exporters to get familiar with the new international transaction mechanism

Positive change for domestic sector

'No provision for refunding unutilised credit on account of deemed exports'

Commerce ministry takes steps to help exporters

Ministry's initiatives encourage exporters, but RBI's reduction of time limit for realisation of export proceeds will increase paperwork

Convoluted phrasing complicates policy

There was a specific Para 8.7 excluding supplies to non-mega power projects from deemed export benefits

'No import duty cut merely because importer is SSI unit'

Utilisation of duty credit scrips

The procedures for payment are prescribed through service tax notifications 6, 7 and 8 - all dated April 18, 2013

Revamped EPCG scheme may take sheen off SEZs

Zero-duty EPCG scheme can entice more domestic tariff area units to take up export obligation but it removes an important consideration for setting up EOU or SEZ units

'Commission paid to foreign agent of Indian company not taxable in India'

Reforms inadequate for reviving interest in SEZ scheme

Expectations such as abolition of MAT and Dividend Distribution Tax for special economic zones have not materialised

Some improvement but rather modest

'Duty drawback benefits not available if exports are paid for in rupees'

Policy makers should react stronger to revive growth

The commerce ministry is working on amendments to the Foreign Trade Policy that may take effect later this month

A matter of clarity

RBI has issued revised instructions to this effect through a circular dated March 12, 2013

'Deemed export benefits are available for goods manufactured in India'

Advance authorisation holders need to examine options

DGFT oversteps defined ambit

The controversial circular comes just a few days before announcement of major amendments to the Foreign Trade Policy

Current account deficit solution lies with Reserve Bank of India

Speaking softly while using a big stick

'EPCG authorisation must be registered with Customs before import'