India s overall exports (merchandise and services) in June 2023 are estimated to be USD 60.09 billion, down around 13 per cent from June 2022. In June 2022, the exports were USD 69.20 billion, , indian economy, merchandise exports, tax experts, goods and service tax, GST regulations, exporters, india, global competitiveness
At a time when India’s merchandise exports have been declining for the last five consecutive months, tax experts suggest five key changes in GST regulations to provide relief for exporters to enhance their global competitiveness.
, , experts, GST measures, exporters, india, indian economy, gst
Experts suggested that it is important the government bring some clarity whether exporters will have to pay GST on reverse charge mechanism with respect to bank charges which have been deducted by overseas bank, when importer remits the sales proceeds.
Ministry of Commerce and Industry has issued a notification amending the import policy for Areca nuts under ITC(HS) code 08028010. The revised policy allows the import of 17,000 Metric Tonnes of Fresh(green) Areca nuts without a Minimum Import Price (MIP) condition from Bhutan through LCS Chamurchi (INCHMB). Stay updated with the latest import policy changes.