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Highlights of Mid-Term review of Foreign Trade Policy – FTP of India, Dec 05, 2017
The mid-term review of Foreign Trade Policy (FTP) of India Review 2017 The mid-term review of Foreign Trade Policy (FTP) of India focus to boost the exports of goods and services and to increase employment generation and value-addition in the country. Scope of Merchandise Exports from India Scheme (MEIS) and Service Exports from India Scheme […]
Export business plays an important role in the economy of the country
Export business plays an important role in the economy of the country. A healthy balance, a sustainable development with trade and foreign exchange reserves to maintain the country’s export growth and economic power; it should be a constant and high rate. Exports as a whole affect the industrial environment. To compete internationally, the industry standard […]
Changes in IEC with the introduction of GST-Regd
Government of India Ministry of Commerce & Industry Directorate General of Foreign Trade Trade Notice No. 09/2018 Udyog Bhawan, New Delhi Dated 12th June, 2017 To 1. All IEC holders/applicants 2. All EPCs / All Chambers of Trade and Industries 3. FIEO/ASSOCHAM/CII 4. All RA’s of DGFT 5. All field formations of Customs Sub: Changes […]
Harmonising MEIS Schedule in the Appendix 3B (Table-2) with ITC (HS), 2017
GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE UDYOG BHAWAN, NEW DELHI PUBLIC NOTICE No. 61/2015-2020 New Delhi, the 7th March, 2017 Subject: Harmonising MEIS Schedule in the Appendix 3B (Table-2) with ITC (HS), 2017. The Directorate General of Foreign Trade has notified Indian Trade Classification (Harmonised System)- ITC(HS), 2017 in replacement […]
Courier Imports and Exports (Clearance) Amendment Regulations, 2017
Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 16/2017-Customs (N.T.) New Delhi, the 3rd March , 2017 G.S.R. (E).—-In exercise of the powers conferred by section 157 of the Customs Act,1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations, […]
Policy Drags e-Commerce Exports
Exporters face restrictions in the form of poor incentives and debilitating fees, made worse by surging global competition India had woken up to the huge potential of e-commerce exports when the Centre decided to provide incentives in the Foreign Trade Policy (FTP) 2015-20 to promote exports of goods hosted on a website and dispatched through […]
WebPort Global speeds up exports for Irish SMEs
Last year was one when Irish business was thrust onto a new level of uncertainty following the Brexit vote and, pending the triggering of Article 50 of the Lisbon Treaty, the UK’s withdrawal from the European Union by March 2019. Given the prospect of such an occurrence, the focus of Irish businesses working in new […]
WTO deal to cut red tape comes into force
GENEVA. — A global agreement to boost trade by cutting red tape and streamlining border checks came into force on Wednesday, promising a 0.5 percent lift to the world economy by 2030 even as it faces renewed protectionism from the United States. World Trade Organization Director General Roberto Azevedo hailed the start of the pact, […]
WTO’s Trade Facilitation Agreement enters into force
A major milestone for the global trading system was reached on February 22, 2017 when the first multilateral deal concluded in the 21-year-old history of the World Trade Organization (WTO) entered into force. In receiving four more ratifications for the Trade Facilitation Agreement (TFA), the WTO has obtained the two-thirds acceptance of the agreement from […]
Indirect Taxes Proposals Involving Change In Duty/Tax Rates: Customs & Excise Duty
PROPOSALS INVOLVING CHANGE IN DUTY / TAX RATES: CUSTOMS: Commodity Rate of Duty From To I. Incentivizing domestic value addition, ‘Make in India’ A. Reduction in Customs duty on inputs and raw materials to reduce costs Mineral fuels and Mineral oils 1. Liquefied Natural Gas BCD – 5% BCD – 2.5% […]
