Page 5 - Tnc Rajagopalan/workspace/business Standard Web/video

Chatroom: Surrender of erroneous drawback payment also attracts interest

TNC Rajagopalan answers SME queries related to GST, export and import matters

Budget 2025: Focus on domestic consumption amid global uncertainties

The Budget contains facilitation measures to help exporters of handicrafts, leather goods, and marine products

Red Sea shipping route may stay open, if Israel-Hamas truce continues

In the last 14 months, the Houthis, using shore-to-ship missiles procured from Iran, have targeted about 200 vessels in the Red Sea

Chatroom: Clarity needed on Rodtep scheme extension for EOU/SEZ/AA exports

That notification now allows exporters to open foreign currency accounts outside India to receive export proceeds and utilise the funds for making payments for imports

India not too perturbed by Trump's disruptive agenda for businesses

With a bigger mandate for his second term, Trump has promised to hike the tariffs across the board and levy higher import duties on goods from China, Mexico, Canada and India

Unnecessary confusion on continuation of Rodtep scheme for exporters

The Rodtep scheme seeks to refund the duties/taxes/levies, at the Central, State and local level, borne on the exported product, including prior stage cumulative indirect taxes on goods

For goods sent abroad for repairs, no tax implication based on value

The facility to import components under EPCG scheme for assembly or manufacture of capital goods by the importer was available earlier but has been discontinued since 2004

Not a great start for India's importers and exporters in the New Year

Donald Trump, who will take over as President of the United States, has threatened to hike import tariffs across the board, and impose high tariffs on imports from China, Canada, Mexico and India

Dr Manmohan Singh trusted India's trade capacity to compete at global level

He introduced a dual exchange rate mechanism in February 1992 and unified exchange rate mechanism in February 1993, effectively engineering a further devaluation of about 30 per cent

Exporters: Know when you can claim duty drawback and Rodtep benefits

Drawback and Rodtep will be available only against export of goods. At the time of export of goods, one must declare the value of the goods in the shipping bill

Solar power projects face higher costs after customs duty notification

Section 58 deals with licensing private bonded warehouses where imported goods belonging to the licensee may be deposited without payment of any Customs duties

Centre must remove unnecessary obstacles for steel import clearances

The government has also introduced registration requirements such as steel import monitoring system (SIMS), paper import monitoring system (PIMS)

Packing and labelling imported goods don't confer Indian-origin status

The balances in the RVAs are built through inward remittances in freely convertible currencies

Biden should revive WTO dispute settlement mechanism before leaving

The decision to give a second term to Ngozi Okonjo-Iweala reflects broad recognition of her exceptional leadership and strategic vision for the future of the WTO

Sensible trade policy key to tackling climate change on a global scale

A key agreement at Baku was on establishing high integrity carbon markets, following a breakthrough on establishing standards for a centralised international carbon market

Importers can use 2 exemption notifications simultaneously for same imports

If goods are imported into India after exportation therefrom, such goods shall be liable to duty and be subject to all the conditions and restrictions

CBIC should review its MOOWR instructions to ease operations for units

Irritants persist for MOOWR units, although over five years have passed since the introduction of MOOWR 2019 regulations

CBIC should do away with IGCRS Rules for the export oriented units

The CBIC should do away with the IGCRS Rules for the EOUs, as they serve no useful purpose, only cause harassment and encourage corruption

Chatroom: DBK need not be surrendered if export proceeds realised late

TNC Rajagopalan answers SME queries related to GST, export and import matters

Global trade may fragment further under a Donald Trump presidency

With Trump's rather isolationist policies, Europe may find it necessary to divert more resources for building better military capabilities