Page 8 - Exporters

Exporters' profit margins under pressure even as demand picks up

Merchandise exports nearly trebled in April to $30.63 billion over the same period last year

Covid-19: Govt to provide liquidity to exporters by duty drawback refunds

In an attempt to ensure liquidity for exporters in difficult period of Covid, govt has decided to credit all customs refunds and duty drawback claims, made by them upto May 14, by the end of the month

Feb exports dip 0.25% after rising three months due to uncertainties abroad

Exporters also cite container shortage; imports continue to rise due to revival in domestic economy and high commodity prices

Exporters shouldn't rely much on subsidies from govt

The government has introduced the Agriculture Infrastructure and Development Cess that will be levied on select imported goods and petroleum products

High Courts serve notice on Centre over IGST rebate by exporters

Exporters were earlier entitled to import raw material without payment of IGST under the AA licence

Both exports and imports record growth in December; first time since Feb

Trade deficit at 25-month high as imports surge 8% after continuous declines; Data shows industrial activity picking up in December

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

Govt extends RoDTEP scheme to all merchandise exports from today

The scheme will refund to exporters, the embedded central, state and local duties and taxes

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.

RBI eases banking and document handling procedures for exporters

Moves come as a major relief to a sector that is struggling to recovery from the impact of Covid-19

Exporters seek extension of tax benefits for cross-border e-commerce

Exporters on Wednesday suggested to the government a series of steps, including extension of fiscal benefits to SEZ units, presumptive tax for cross-border e-commerce and free trade pacts with countries like the US and UK, to boost domestic manufacturing and outbound shipments. These recommendations were made by the Federation of Indian Export Organisations (FIEO) at a meeting of the Board of Trade (BOT) which was chaired by Commerce and Industry Minister Piyush Goyal. Other suggestions included permitting duty free import of equipment required for R&D and product development; setting up of a Niryat Vishwavidyalay; extension of interest subsidy scheme in the new foreign trade policy; and immediate release of GST and drawback funds. Further, the federation recommended refund of GST to foreign tourists, RoDTEP (Remission of Duties or Taxes on Export Products) scheme covering all products; and amnesty scheme for schemes prescribing export obligation. FIEO Director General Ajay Sahai .

70,000 Indian exporters set for Black Friday, Cyber Monday sale on Amazon

Amazon's Global Selling Programme is expected to generate $10 billion in cumulative export sales by 2025 for Indian exporters enrolled in this programme

Exporters raise concerns over rising freight charges, container shortage

Exporters expressed concerns over rising freight charges and shortage of containers as it would impact the country's outbound shipments, and sought Commerce Ministry's intervention in the matter.

Exporters urged not to speculate on currency movement due to mkt volatility

A senior State Bank of India official on Friday urged exporters not to speculate on currency movement due to volatility in the market at the moment

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

Govt forms five task forces to make Indian MSMEs future-ready: Secy

MSME Secretary A K Sharma expressed confidence that it would be on the path of implementing the futuristic initiatives by the start of next year

FTP treats merchant exporter with order as third party, says expert

'Third party' means any party who is not the buyer or the seller, but whose name is required to be mentioned in the shipping bill

Exporters may not get much help from RoDTEP

The government has restricted the allocation for MEIS benefits to Rs 5,000 crore for September-December period. In FY20, the Centre granted Rs 43,500 crore of MEIS benefits

Capping MEIS benefits at Rs 2 cr to seriously affect exporters: FIEO

The government on Tuesday capped export incentives under the scheme at Rs 2 crore per exporter on outbound shipments made during the period from September 1 to December 31, 2020