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Drawback, GST, RoDTEP refund different levies

Availing of refund under one scheme does not take away the right to claim refund under another scheme. Exporters can contest any attempts to delay or deny such refunds

Supply chain disruptions likely despite falling trade

After two years of revenue and profit growth, the shipping lines are facing losses on most sailings due to falling freight rates

'DGFT should clarify duty payment for destruction of imported goods'

Practically, it is difficult to escape payment of customs duty and interest even when the goods are destroyed or re-exported

Budget should avoid subsidies and protection to biz

Subsidies and tax concessions are not the best ways to boost our production and exports in the medium and long term

Coordinated actions needed to deal with global challenges

The United States and its allies are committed to supporting Ukraine, despite serious hardships, especially in Europe

'DGFT should align RoDTEP, Customs Tariff HSN Codes'

'The DGFT should also resolve the problem of exporters who have used the HSN Code as per Customs Tariff but have ticked the right box in the shipping bill to indicate their claim of RoDTEP benefits'

Economic indicators positive, but worries remain

The Russian invasion of Ukraine pushed up the prices of food, fuel, fertilizers, and other commodities

Trade, economic interests drive India's foreign policy

How the oil price cap will actually play out is not clear, but our government remains unfazed because the cost of crude is anyway on a downward trend

'Proving identity of re-imported goods essential for claiming exemption'

Funds held in the foreign currency accounts of SEZ units cannot be loaned or made available to any person or entity resident in India, not being a unit in Special Economic Zones

Centre extends RoDTEP to more sectors, but refund woes remain

Exports under advance authorisation scheme and by export-oriented units, units in special economic zones and manufacturing goods in bonded warehouses are excluded from the scheme

Draft DESH Bill seeks to bail out SEZ units

There is nothing in the said Bill to suggest that it will contribute to enhancement of export competitiveness

WTO calls for free trade in goods to cope with climate change

The WTO report argues that trade is part of the solution for achieving a low carbon, resilient, and just transition

India should nudge US to appoint judges to hear appeals at WTO

Dispute settlement is the central pillar of the multilateral trading system, and the WTO's unique contribution to the stability of the global economy

Chatroom: 'Export incentives available on payments received through SVAs'

Export invoicing in INR is already allowed but the payment must come through Vostro Accounts maintained by foreign banks with a bank in India

FM should clear the air on 'pre-import' matter

The Customs have started sending show-cause notices (SCN) to several exporters alleging violation of 'pre-import' condition in case of imports without payment of IGST under advance authorisations

Globalisation a must for action on climate change

Freer flow of goods, services, technologies, finance and people is essential to deal with the challenges of climate change

Upbeat mood in India decoupled from pessimism in rich countries

To combat the cost of living crisis, the central banks of most countries have raised interest rates and curbed excess money supply

RBI optimistic on the state of economy

Bank credit is increasing by double digits and the sustained surge in goods and service tax collections is signalling growing formalisation of the economy

Chatroom: 'Drawback of IGST also available on re-export of imported goods'

This is subject to submission to Customs a certificate from the local GST officer that input tax credit has not been taken, and no refund of such ITC or IGST paid on the goods has been claimed

Importers still wait for clarity on expanded scope of IGCRS Rules

The new rules now say they come into play even in situations where the notifications prescribe end use of imported goods but do not specifically prescribe application of the new rules.