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Commerce ministry should remove impossible conditions in SEZ rules: Expert

The Commerce Ministry should amend the Rule 34 suitably and also the Rules 46(12) and 46(13), as the procurement certificate has been replaced with the intimation prescribed under Rule 5 of Customs

Govt may consider effect on industries before imposing duties

In her Budget speech, the finance minister said, "MSMEs and other user industries have been severely hit by a recent sharp rise in iron and steel prices

Headwinds to exports raise fears of stifled India growth story

The problems of moving cargo to the destinations continue. Containers are not easily available in time as there aren't enough vessels sailing to and from India

Receipt of exports from third party must be declared upfront: Expert

We exported certain goods last year and received full payment. The buyer rejected a part of the consignment

Biden could revive but not reset WTO

Calls for reforming the WTO grew louder even before Donald Trump took centre-stage in the US

Relaxed norms to help MSMEs get AEO recognition

At present, there 791 entities with AEO-LO recognition, 3,206 parties with AEO-T1 recognition, 581 parties with AEO-T2 recognition, and 20 parties with AEO-T3 recognition

Commerce ministry should amend SEZ rules for sourcing from EOUs: Expert

EOUs were de-licensed as bonded warehouses with effect from August 13, 2016

Restrictions by way of software changes counter-productive

What happens when the government uses the software to impose restrictions that are not sanctioned by legal provisions is that the Courts strike down such restrictions as invalid

Exporters left in cold over flawed RoDTEP scheme

The main objective of RoDTEP is to refund the duties and taxes that are not rebated or exempted through schemes for duty drawback, advance authorisation, EOU etc

Exporters must carefully study GST notifications

The exporters need not give in to the unreasonable demands of the DRI.

Notifications on GST exemptions puzzle exporters

On January 23, 2018, the exporters were barred from exporting on payment of IGST under refund claim if the supplier to the AA holder availed IGST exemption on his imports under his AA.

RCEP makes US, and India rethink joining trade deals

India has been allowed to join the RCEP anytime and in the meantime participate in meetings as 'observer'

Banks can consider extending time limit for settling import dues: Expert

Weekly advice on managing small businesses. This time SME chatroom talks about a RBI directive on import of goods and services.

Diwali brings hopes for economic revival

The spread of Covid-19 has been contained in most parts of our country

IEC not required for services exporters claiming no FTP benefits: Expert

Section 28DA of the Customs Act requires an importer to possess sufficient information about origin of imports, where preferential tariff treatment has been claimed.

Uncertainty persists on RoDTEP benefits

The RoDTEP scheme was announced by the finance minister in September 2019 to replace the Merchandise Exports from India (MEIS) scheme

Customs clearance regulations making importers nervous

The government has raised import duties on several items and restricted import of many items subjecting them to import licensing

Blind imposition of import restrictions hits exporters hard

The task of getting their goods to the buyers in time at reasonable costs is getting more difficult for the exporters

Provisional assessment allowed when Customs doubt origin of goods: Expert

Compulsory verification of assessment will be discontinued once the importer demonstrates that he has established adequate system of controls to exercise reasonable care

Govt expands scope of steel import monitoring

The importer can apply for registration not earlier than 60th day and not later than 15 days before the expected date of arrival of import consignment