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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 […]

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%     […]

Highlights of Union Budget 2017-18

Budget Highlights (Key Features) Introduction In the last two and half years administration has moved from discretionary, favouritism based to system and transparency based Inflation brought under control. CPI-based inflation declined from 6% in July 2016 to 3.4% in December, 2016 Economy has moved on a high growth path. India’s Current Account Deficit declined from […]

IEC Holder Seeks Modification – Amendment in Chapter 2 of the Handbook of Procedure (2015-20).

IEC holder seeks modification/change of Branch Office/Head Office/Registered Office address in its IEC and which involves a shift in its jurisdictional RA GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE PUBLIC NOTICE NO. 54/(2015-2020) NEW DELHI: Dated the 11th January, 2017 Subject: – Amendment in Chapter 2 […]