Exim Matters
Supply chain disruptions likely despite falling trade
After two years of revenue and profit growth, the shipping lines are facing losses on most sailings due to falling freight rates
Low expectations from the 12th WTO Ministerial Conference
The meet takes place under the shadow of global inflation, supply chain disruptions, lingering pandemic, slowing growth momentum, and the Russia-Ukraine war
 "Low expectations from the 12th WTO Ministerial Conference")
Govt must withdraw orders on transfer of SEZ units' assets
The new procedures envisage no role for SEZ developers. That may not be acceptable to many developers
EXIM Matters: Funding technology transfer for vax better than IPR waiver
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
 "EXIM Matters: Funding technology transfer for vax better than IPR waiver")
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
