Importer

Business Standard brings you the fortnightly Q&A on SMEs

So far this week, the domestic currency has shed 0.7% against the greenback, making it among the weakest performing Asian units over the past few days

Average dollar purchases by importers, beyond the spot date, rose to $1.64 bn last week from $1.14 bn the week before, latest data collated by The Clearing Corporation of India Ltd (CCIL) revealed

The new rules now say they come into play even in situations where the notifications prescribe end use of imported goods but do not specifically prescribe application of the new rules.

Nove comes after customs dept observed several consignments from South-East Asia in which rules of origin were flouted, and the FTA route was being used to evade duties

SC said the impugned levy imposed on the 'service' aspect of the transaction is in violation of the principle of 'composite supply' enshrined under Section 2(30) read with Section 8 of the CGST Act

Private players in Russia have met with potential suppliers in India's big cities and are opening specialised bank accounts at home for roubles-to-rupees transactions, with blessing of the two govts

The move would help in knowing the actual number of real traders in the country

Industry says goods originating from least-developing countries but routed through some other country are not getting the preferential duty benefit

74 per cent of consignments at ports got nod in less than 48 hours on Sunday

The government has raised import duties on several items and restricted import of many items subjecting them to import licensing

RBI took cognizance of the difficult situation amid the global coronavirus crisis and announced a number of measures for the export and import sector

While importers are paying IGST on imports but not claiming credit for the same. This essentially means that the supply of imported goods to domestic channels is being done without a bill

The finance ministry is uniting and expanding the scope of two existing programmes for importers

Currently an importer has to go and present physical copies of documents for approval from the authorities