Government considering continuation of export promotion scheme in new trade policy
January 26, 2021
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The scheme is seen as more acceptable for WTO members than MEIS, which has been replaced
The Centre is considering the option of continuing the Export Promotion Capital Goods (EPCG) scheme, which allows exporters to import certain capital goods used in manufacturing without paying duties, for some more time, despite a World Trade Organisation (WTO) panel ruling that the scheme is not consistent with multilateral rules.
In ongoing consultations for the new Foreign Trade Policy (FTP), the Directorate-General of Foreign Trade (DGFT) has received a number of representations from export bodies for continuation of the EPCG scheme, an official close to the development told
Budget session to would conclude on April 8.
The Houses will adjourn on February 15 and meet again on March 8.
New Delhi: Pinning its hopes on the upcoming Union Budget, the tourism and hospitality sector has made several recommendations to the government to help it emerge from the impact of COVID-19 crisis.
To ensure that there is a shared tourism vision across the Centre and states, industry has also proposed creation of a National Tourism Council of Chief Ministers headed by the Prime Minister along with the tourism minister, Federation of Associations in Indian Tourism and Hospitality (FAITH) said in a statement.
City IT firm’s CEO held for Rs 45cr GST fraud
ByArchana MoreArchana More / Updated: Dec 27, 2020, 06:00 IST
The
DGGI) arrested Deven Mehta, the promoter and chief executive officer (CEO) of Pune-based M/s
Smart Card IT Solutions Ltd, for cheating the government over Rs 45 crore by generating
fake invoices without supply of goods and services.
DGGI officials told the court that Mehta is an important cog in the conspiracy aimed at duping the exchequer by creating a complex web of transactions amongst inter-connected as well as unrelated companies engaged in
fraudulent issuance of tax invoices.
Smart Card IT Solutions (SCIT) is involved in manufacturing banking IDs and telecom cards. The company is located at Sanaswadi on Pune-Ahmednagar road. GST intelligence officers received a tip-off that the company is engaged in the activity of issuance and receiving fake invoices without supplying goods and services. The team, headed by senior intelligence officer Ajit Kumar Karthik
The Gujarat government has sought the establishment of a dedicated ceramics export promotion council and a new research & development centre of international repute for the Morbi-based cluster.
GANDHINAGAR: As Gujarat’s ceramics industry continues to grow and make its mark in the international market, the state government has requested the Centre to extend special support to the sector. The Gujarat government has sought the establishment of a dedicated ceramics export promotion council and a new research & development centre of international repute for the Morbi-based cluster.
“The development of an international convention centre for the ceramics industry in Morbi will provide a platform for the industries to display goods to global customers,” said a source in the state industries and mines department.