TNC Rajagopalan
 "TNC Rajagopalan")
TNC Rajagopalan
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Not self-reliance, focus must be on 'competitive India'
The President said that the Fundamental Duties enshrined in the Constitution are essential obligations of every citizen towards making Bharat a developed nation when it completes 100 years of freedom
 "Not self-reliance, focus must be on 'competitive India'")
Customs can ask for purchase invoices from exporters claiming DBK, Rodtep
Rule 9 of the Customs and Central Excise Duties Drawback Rules, 2017 and proviso at Para 2(1)(b) of notification no.76/2001-Cus (NT) dated 23rd September 2021 put a cap on the amount of drawback
 "Customs can ask for purchase invoices from exporters claiming DBK, Rodtep")
Govt needs to expand reach of Indian epics like Ramayana
Our travel agents, who organise tours for foreigners who come to India for sightseeing, can be encouraged to introduce such publications to the tourists
 "Govt needs to expand reach of Indian epics like Ramayana")
Red Sea crisis may nudge US buyers to source goods from East Asia
Indian exporters apprehend that unless the hostilities in the Red Sea end quickly, the buyers in the United States (US) will prefer East Asian sources
 "Red Sea crisis may nudge US buyers to source goods from East Asia")
GAEC application for SCOMET items: Exporter must have trust in end user
Para 10.16 A.II.b.ii says that the applicant exporter is required to declare that the items that are intended to be exported shall not be used for any purpose other than the purpose(s) stated
 "GAEC application for SCOMET items: Exporter must have trust in end user")
Govt needs to be transparent, must avoid selective protectionism
One of the major pillars or principles of the General Agreement on Trade and Tariffs (GATT) under the auspices of the World Trade Organisation (WTO) was the abolition of quantitative restrictions
AI needs global rules that won't stifle innovation
The regulators in all the countries must get their acts together and pool their wisdom to evolve a uniform set of laws to manage the transition
 "AI needs global rules that won't stifle innovation")
Chatroom: Extension for exports realisation, RBI should review instructions
You cannot amend the shipping bills and so, you may explain the error to the bank and seek write-off or closure of the entries
 "Chatroom: Extension for exports realisation, RBI should review instructions")
Trade challenges in 2023: India relatively steady amid global slowdown
In India, the export and import figures have been trending downwards mainly due to fall in commodity prices and freight rates compared to the previous year
 "Trade challenges in 2023: India relatively steady amid global slowdown")
Ports shipping lines may charge more for fighting climate change
The global shipping industry that is responsible for about 3 per cent of the global GHG emissions and carries nearly 90 per cent of international cargo is one such
 "Ports shipping lines may charge more for fighting climate change")
Not mentioning L/C no. on invoice is not a discrepancy, says expert
Provided all the stipulated documents are received by the issuing bank, the absence or mistyping of a credit number does not constitute a reason for refusal
 "Not mentioning L/C no. on invoice is not a discrepancy, says expert")
WTO's trade policy toolkit for climate action
Our policymakers may take note of the recommendations and fine-tune our policies
 "WTO's trade policy toolkit for climate action")
'Trade Day' at COP28: To deliberate on policy options for climate action
At COP26 held at Glasgow, Scotland, in 2021, most developed countries committed to achieving net-zero GHG emissions by 2050
 "'Trade Day' at COP28: To deliberate on policy options for climate action")
Chatroom: Individuals can get up to $250,000 forex for their foreign trips
Para 6.07(a) allows sale in DTA without any limit for EOUs in sectors other than gem and jewellery and services, so long as you achieve positive NFE
RBI circular on SCA for exporters unclear on many aspects
The RBI says that the idea is to provide greater operational flexibility to exporters but few exporters are clear on how that will come about
 "RBI circular on SCA for exporters unclear on many aspects")
India surprises by agreeing to talk 'labour' at IPEF
The IPEF is a response of the US to its shrinking economic engagement and clout in East Asia, where the economic influence of China is growing
 "India surprises by agreeing to talk 'labour' at IPEF")
CHATROOM: Merchanting trade transactions must be completed within 9 months
TNC Rajagopalan answers SME queries related to GST, export and import matters
 "CHATROOM: Merchanting trade transactions must be completed within 9 months")
Tax mop-up to digital infra, many positives to cheer up Diwali
The tax collections, and even the non-tax revenues are quite strong, giving the central and state governments more money to spend on infrastructure and social sector projects
 "Tax mop-up to digital infra, many positives to cheer up Diwali")
WCO-IAPH guidelines for customs, ports released
The WCO is an intergovernmental organization of 185 member countries, whose customs administrations process over 98 per cent of international trade
'EPCG: Doubts persist over maintaining annual average exports of services'
TNC Rajagopalan answers SME queries related to GST, export and import matters
 "'EPCG: Doubts persist over maintaining annual average exports of services'")