Page 2 - Exim Matters

Govt plugs loopholes in imports of QCO items

The new disciplines imposed on imports of items subject to QCOs are well intended

Europe's higher defence expenditure may hit exports

To find more resources to fund higher defence expenditure, Europe may have to raise taxes or cut government spending on welfare and other development activities

WTO MC13 may not achieve much

The global trading rules agreed at the conclusion of the Uruguay round of negotiations at Marrakesh in April 1994 that led to the establishment of the WTO have largely remained unchanged

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

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

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

Intent to not lag China is behind moves to promote INR trade

The linking of 'card switches' will facilitate mutual acceptance of domestic cards and processing of card transactions

CGST Rule 89(4) or 89(4B)? Refund issue can snowball into major problem

Rule 96A of the CGST Rules, 2017, allows export of goods without payment of IGST after furnishing a bond or letter of undertaking (LUT)

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

Low expectations from the 12th WTO Ministerial Conference

The meet takes place under the shadow of global inflation, supply chain disruptions, lingering pandemic, slowing growth momentum, and the Russia-Ukraine war

Govt must withdraw orders on transfer of SEZ units' assets

The new procedures envisage no role for SEZ developers. That may not be acceptable to many developers

EXIM Matters: Funding technology transfer for vax better than IPR waiver

Experts say merely waiving IPR will not raise vaccine supply unless pharma companies transfer the technology and trade secrets that will enable others to produce the vaccines

Easing of essential goods imports to help fight Covid-19 pandemic

The govt has exempted basic customs duty on import of Remdesivir, APIs of Remdesivir, Beta Cyclodextrin used in making Remdesivir and specified inflammatory diagnostic kits till Oct-end

Amid Covid-19 pandemic, exports could come as a saviour for India

The global trading environment is very encouraging, as developed countries have increased the pace of vaccination and are reporting lesser numbers of infections

More penal power for Customs dept

Proposed amendments in Section 104 of the said Act would allow arrest of any person fraudulently obtaining duty credit scrips for more than Rs 5 million

More obtuseness from the FinMin

When GST was introduced, the government ignored pleas to retain upfront exemption from IGST on import by EOUs and under advance authorisation and EPCG authorisation

Govt's poor GST preparedness impinges on traders

In a tax reform as GST, it was always expected that there would be some glitches at initial stages

SEZs await settling of some GST issues

Under the Integrated GST Act, supply of goods or services to SEZ developers or units are zero-rated

T N C Rajagopalan: GST shouldn't be a racing contest

It is better not to rush implementation due to extraneous considerations

Expectations from new WTO pact

Last week, the Trade Facilitation Agreement (TFA) of the WTO came into effect