Page 2 - Exim Matters
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
 "Easing of essential goods imports to help fight Covid-19 pandemic")
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
 "Amid Covid-19 pandemic, exports could come as a saviour for India")
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 penal power for Customs dept")
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
 "Govt's poor GST preparedness impinges on traders")
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
Simpler rule on landing charges
Changes will help align custom valuation rules with WTO norms
T N C Rajagopalan: For better procedures in Customs clearance
There are delays from the Customs department with regard to system failure and network failure
T N C Rajagopalan: Budget changes in Customs law
This time, hardly any changes were made in the excise and service tax laws
T N C Rajagopalan: Prospects for the coming year
Many jobs in even the information technology sector could start moving to richer countries
T N C Rajagopalan: This hasn't been a year to cherish
The year's high point was amendment of the Constitution to enable introduction of GST
T N C Rajagopalan: Why EOUs are discriminated against
Export-oriented units manufacturing solar photovoltaic modules have a problem
T N C Rajagopalan: Ahead of law but worth noting
JNCH says, all B/E pertaining to 'Full Container Load' cargo, must be compulsorily filed in the ICES system as advance/prior B/E
TNC Rajagopalan: GST changes on excise matters
The changes made in the revised draft throw up fresh issues but, overall, most of these look sensible
Preparing for the promise of Trump
The election of Donald Trump as the next president of the USA has enhanced the uncertainties in the global trading environment
Seasonal call for positive stock!
In the World Bank report on 'Ease of doing business', India is static at 130 out of 190 countries but this is what they have to say on our Customs
DRI summons for no clear reason
DRI has issued a standard letter to many exporters, to return incentives availed of for shipments during 2014-15 for which the proceeds hadn't been realised within the prescribed time limit
Extra conditions for metal scrap import
The Director General of Foreign Trade (DGFT) has restricted the import of unshredded metallic scrap through only designated ports, having radiation portal monitors and container scanners, and the consignment is so examined in line with Customs protocol. However, any Inland Container Depot (ICD) can handle clearance of unshredded metallic scrap, provided this passes through any of the designated sea ports or any new ports to be notified from time to time,The present policy is to allow import of any form of metallic waste or scrap, as long as it doesn't contain any hazardous material, toxic waste, radioactive contaminated waste or scrap containing radioactive material, any type of arms, ammunition, mines, shells, live or used cartridges or any other explosive material in any form. The importer has to show a copy of the contract with the exporter which stipulates compliance to this effect.Also, a Pre-shipment Inspection Certificate from the authorised agencies must be presented, that the
