Page 10 - Import
IGST on ocean freight can't be imposed on importers, companies tell SC
They pleaded for quashing of a govt petition filed in the apex court against a Gujarat HC ruling that had declared IGST on ocean freight as violative of the Constitution
 "IGST on ocean freight can't be imposed on importers, companies tell SC")
World's record food bill is hitting poorer countries hardest
Higher shipping rates and prices of foodstuffs from grains to vegetables are likely to drive the cost of importing food
 "World's record food bill is hitting poorer countries hardest")
SME Chatroom: 'Defective packaging can imperil marine insurance claims'
Clause 4.3 of Institute Cargo Clauses (C) says that in no case will insurance cover loss, damage or expense caused by insufficiency or unsuitability of packing or preparation of subject matter insured
 "SME Chatroom: 'Defective packaging can imperil marine insurance claims'")
Sri Lanka slaps 100 per cent LC margin to restrict imports: Report
The new margin requirement will be in effect from September 8 for over 600 items ranging from chocolates and wine to raincoats and carpets to discourage imports
 "Sri Lanka slaps 100 per cent LC margin to restrict imports: Report")
India's new LNG plant starts next year, to boost import capacity by 12%
New demand for LNG from India is expected to support Asian gas prices which rose to record highs earlier this year, partly aided by the transition from coal or oil to gas in developing countries.
 "India's new LNG plant starts next year, to boost import capacity by 12%")
In a first, India to import 1.2 mn tonne GM soyameal after govt clears air
In a first, India is all set to import 1.2 mn tonne of genetically modified soyameal, used as livestock feed, after the environment ministry and DGFT cleared the air on the GM issue, an official said
 "In a first, India to import 1.2 mn tonne GM soyameal after govt clears air")
Centre set to allow import of GM soymeal to check rising feed prices
Feed meal prices have risen due to a staggering 64% increase in prices of soymeal, which is one of the main constituents of feed meal along with maize
Global shipping crisis result of uneven post-Covid recovery of countries
The crisis in the global shipping industry has been largely on the back of uneven post-Covid recoveries of the major importing and exporting countries, according to a report by Drip Capital
 "Global shipping crisis result of uneven post-Covid recovery of countries")
Pakistan's Cabinet makes U-turn on plan to resume trade with India
The India-Pakistan cease-fire marked a milestone in secret talks brokered by the UAE, Bloomberg reported earlier this month
 "Pakistan's Cabinet makes U-turn on plan to resume trade with India")
Import monitoring system being built for several sectors: Commerce Ministry
The system would help gather advanced information on imports of these products and make it available to the stakeholders, including government and domestic industries
 "Import monitoring system being built for several sectors: Commerce Ministry")
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.
 "IEC not required for services exporters claiming no FTP benefits: Expert")
Covid-19 crisis: Canada's exports, imports fall 1% in August, shows data
Statscan revised July's trade deficit to C$2.53 billion from an initial C$2.45 billion.
 "Covid-19 crisis: Canada's exports, imports fall 1% in August, shows data")
Top headlines: August exports shrink 12.6%; telcos sound alarm over 5G
From Facebook saying zero tolerance on hate speech to Delhi Metro seeing pick up in ridership, here are top headlines this morning
 "Top headlines: August exports shrink 12.6%; telcos sound alarm over 5G")
Licence raj returns
Creation of import barriers must be avoided
 "Licence raj returns")
From textiles to furniture, 350 items may face non-tariff barriers
Move is in line with govt's 'Atmanirbhar Bharat' objective
 "From textiles to furniture, 350 items may face non-tariff barriers")
Auto industry bodies fear delay in imports clearance may impact production
Automobile industry bodies SIAM and ACMA expressed concern over import consignments from China being subjected to manual inspection
 "Auto industry bodies fear delay in imports clearance may impact production")
Export of services rises 11.6% to $20 bn in Dec; imports up 10.3%
Surplus in trade services stood at $7.45 billion for December
 "Export of services rises 11.6% to $20 bn in Dec; imports up 10.3%")
Exports contract for fifth straight month in December, imports shrink 8.8%
Policymakers worried over dwindling imports, which contracted for 7th month
'EOUs can import goods from Pakistan without paying customs duty'
The 5/2019 notification grants exemption on goods imported by EOUs from the whole of customs duty leviable thereon under the First Schedule to the Customs Tariff Act, 1975
 "'EOUs can import goods from Pakistan without paying customs duty'")
Traders must furnish all information called for by authorities: Expert
Free shipping bills as well as third party exports can be counted towards discharge of EO against EPCG authorisations