Exim Matters

After two years of revenue and profit growth, the shipping lines are facing losses on most sailings due to falling freight rates

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

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

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

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

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

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

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

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

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

It is better not to rush implementation due to extraneous considerations

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

Changes will help align custom valuation rules with WTO norms

There are delays from the Customs department with regard to system failure and network failure

This time, hardly any changes were made in the excise and service tax laws

Many jobs in even the information technology sector could start moving to richer countries

The year's high point was amendment of the Constitution to enable introduction of GST

Export-oriented units manufacturing solar photovoltaic modules have a problem

JNCH says, all B/E pertaining to 'Full Container Load' cargo, must be compulsorily filed in the ICES system as advance/prior B/E

The changes made in the revised draft throw up fresh issues but, overall, most of these look sensible