Category: Export

The government of India has proposed the following tax incentives in the Budget 2016-17 for strengthening and promoting the Indian maritime sector: (i) Exclusion of services of transportation of import cargo by ships on voyage charter from Negative List Freight charged by shipping companies for import of goods into India has been excluded from the Negative List and permitted availment of CENVAT credit on inputs used for providing such service. This will bridge the competitive gap between Indian and foreign Read Full Details…

India Export Statistical Data 2015-16 Country 2014-2015 (in INR) 2015-2016     (Apr- Nov) 2014-2015 (in INR) U S A 25942751.55 17356137.39 U Arab Emts 20185269.18 12881843.59 Hong Kong 8311857.4 5147801.14 China P Rp 7303043.3 3951863.69 U K 5696907.25 3800430.94 Germany 4606196.79 2955451.51 Saudi Arab 6802968.33 2950072.52 Singapore 5985397.67 2878574.19 Bangladesh Pr 3944038.17 2396517.15 Sri Lanka Dsr 4103801.13 2355377.84 Vietnam Soc Rep 3831863.74 2184693.28 Belgium 3371799.1 2106727.25 Japan 3283568.79 2076459.41 Netherland 3864646.71 1971861.86 France 3032342.22 1967339.3 Italy 3111841.59 1741603.15 Malaysia Read Full Details…

The Update of the World Economic Outlook (WEO) released in January 2015 by the IMF puts global growth projection for 2015 at 3.5 percent and at 3.7 percent for 2016. Global growth will receive a boost from lower oil prices – a result mainly of higher supply – but while the recovery in the United States was stronger than expected, economic performance in all other major economies, particularly Japan, fell short of expectations. The euro area growth projections are weaker Read Full Details…

Highlights Of The Foreign Trade Policy 2015-2020 A. SIMPLIFICATION & MERGER OF REWARD SCHEMES Export from India Schemes: 1. Merchandise Exports from India Scheme (MEIS) Earlier there were 5 different schemes (Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri. Infrastructure Incentive Scrip, VKGUY) for rewarding merchandise exports with different kinds of duty scrips with varying conditions (sector specific or actual user only) attached to their use. Now all these schemes have been merged into a single Read Full Details…

* Increase in basic custom duty: -Metallergical coke from 2.5 % to 5%. -Tariff rate on iron and steel and articles of iron and steel increased from 10% to 15%. -Tariff rate on commercial vehicle increased from 10 % to 40%. *Basic custom duty on digital still image video camera with certain specification reduced to nil. *Excise duty on rails for manufacture of railway or tram way track construction material exempted retrospectively from 17-03-2012 to 02-02-2014, if not CENVAT credit Read Full Details…

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1. Measures to revive investors’ interest in SEZs. 1.1 A package of measures has been formulated to revive investors’ interest in SEZs and to boost exports. The salient features of the package are:- In view of the acute difficulties in aggregating large tracts of uncultivable land for setting up SEZs, while ensuring vacancy and contiguity, we have decided to reduce the Minimum Land Area Requirement by half. For Multi-product SEZ from 1000 hectares to 500 hectares and for Sector-specific SEZ Read Full Details…