Page 4 - Exporters

Notifications on GST exemptions puzzle exporters

On January 23, 2018, the exporters were barred from exporting on payment of IGST under refund claim if the supplier to the AA holder availed IGST exemption on his imports under his AA.

RBI eases banking and document handling procedures for exporters

Moves come as a major relief to a sector that is struggling to recovery from the impact of Covid-19

Exporters seek extension of tax benefits for cross-border e-commerce

Exporters on Wednesday suggested to the government a series of steps, including extension of fiscal benefits to SEZ units, presumptive tax for cross-border e-commerce and free trade pacts with countries like the US and UK, to boost domestic manufacturing and outbound shipments. These recommendations were made by the Federation of Indian Export Organisations (FIEO) at a meeting of the Board of Trade (BOT) which was chaired by Commerce and Industry Minister Piyush Goyal. Other suggestions included permitting duty free import of equipment required for R&D and product development; setting up of a Niryat Vishwavidyalay; extension of interest subsidy scheme in the new foreign trade policy; and immediate release of GST and drawback funds. Further, the federation recommended refund of GST to foreign tourists, RoDTEP (Remission of Duties or Taxes on Export Products) scheme covering all products; and amnesty scheme for schemes prescribing export obligation. FIEO Director General Ajay Sahai .

70,000 Indian exporters set for Black Friday, Cyber Monday sale on Amazon

Amazon's Global Selling Programme is expected to generate $10 billion in cumulative export sales by 2025 for Indian exporters enrolled in this programme

Exporters raise concerns over rising freight charges, container shortage

Exporters expressed concerns over rising freight charges and shortage of containers as it would impact the country's outbound shipments, and sought Commerce Ministry's intervention in the matter.

Exporters urged not to speculate on currency movement due to mkt volatility

A senior State Bank of India official on Friday urged exporters not to speculate on currency movement due to volatility in the market at the moment

Blind imposition of import restrictions hits exporters hard

The task of getting their goods to the buyers in time at reasonable costs is getting more difficult for the exporters

Govt forms five task forces to make Indian MSMEs future-ready: Secy

MSME Secretary A K Sharma expressed confidence that it would be on the path of implementing the futuristic initiatives by the start of next year

FTP treats merchant exporter with order as third party, says expert

'Third party' means any party who is not the buyer or the seller, but whose name is required to be mentioned in the shipping bill

Exporters may not get much help from RoDTEP

The government has restricted the allocation for MEIS benefits to Rs 5,000 crore for September-December period. In FY20, the Centre granted Rs 43,500 crore of MEIS benefits

Capping MEIS benefits at Rs 2 cr to seriously affect exporters: FIEO

The government on Tuesday capped export incentives under the scheme at Rs 2 crore per exporter on outbound shipments made during the period from September 1 to December 31, 2020

98% of exporters, especially MSMEs will benefit under MEIS: Piyush Goyal

Ninety-eight per cent of exporters, especially MSMEs will benefit under MEIS with reward cap of Rs. 2 crore/ Importer Exporter Code from September 1 to December 2020

FIEO concerned over freezing of exporters' bank accounts, seeks govt's help

In a letter, FIEO President Sharad Kumar Saraf said freezing of bank accounts without any investigation is against the principles of natural justice and is causing irreparable damage to exporters

Tirupur Exporters Association thanks govt for ESIC's decision on wages

Tirupur Exporters Association thanked the Centre for the ESIC decision to pay 50 per cent of the average wages of the employees for a maximum of 90 days of unemployment due to the pandemic

DGFT undergoing an overhaul to boost trade post-Covid pandemic

Exporters have for long been demanding that the DGFT portal be made more comprehensive and its online services more interactive and customer-focused

UP to host virtual exhibitions by exporters to beat Covid-19 slump

State will also provide financial aid to exporting firms

IGST crackdown: Exporters cry foul; govt refutes allegations of harassment

Say they are being harassed by the authorities even as 1,500 who claimed bogus GST refunds are untraceable

Fraudulent IGST refunds: Exporters to face stern action, say reports

Exporters are identified as 'risky' on the basis of specific risk indicators based on customs, GST, income tax and data from the Directorate General of Foreign Trade

Fraudulent IGST claims worth Rs 1,875 crore by risky exporters identified

These people are untraceable and the list includes seven 'star' exporters, government sources said

Govt lifts restrictions, gives relief on ITC to exporters, others under GST

The government has now kept imports, ISD and RCM out of the purview of its move to limit ITC to inputs reflected in GSTR2A