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Exporters send an SOS after Budget jolt
Updated:
Updated:
February 10, 2021 23:17 IST
Moves to disallow IGST refunds, allow confiscation of goods will hurt India’s image as supplier: FIEO
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In a fix: About 5,000 exporters continue to be tagged risky, leading to shipment and tax refund delays. Jothi Ramalingam
Moves to disallow IGST refunds, allow confiscation of goods will hurt India’s image as supplier: FIEO
India’s exporters have red-flagged proposals in the Budget that aim to disallow IGST refunds for exports and empower customs officials to confiscate goods for making a ‘wrongful claim’, warning that these changes will severely hurt exports and could impact India’s image as a reliable global supplier.
Pepper imports from Sri Lanka up 10% in December, domestic growers worried
Pepper is imported duty-free by the oleoresin industry, which argues that Indian pepper is unsuitable in view of its lower oil content, a claim contested by growers. January 30, 2021 / 02:58 PM IST
A 10 percent increase in pepper imports from Sri Lanka in December has left the domestic pepper industry worried, especially at a time when there is a shortage of containers and vessels.
“In December 2020 alone, 822 tonnes of pepper were imported against 80 tonnes in December 2019. The imports came at eight percent customs duty from Sri Lanka under the SAFTA (South Asian Free Trade Area) and duty-free under ISFTA (Indo-Sri Lanka Free Trade Agreement) with licence from the DGFT (Directorate-General of Foreign Trade,” said Kishor Shamji, Indian Pepper and Spice Traders, Growers, Planters Consortium (IPSTGPC) Coordinator.
3 reasons why GST collections hit record high of Rs 1.15 lakh crore
GST collections in December 2020 showed an unexpected year-on-year growth of 11.6 per cent to Rs 1.15 lakh crore, the highest monthly GST collection so far
Dipak Mondal | January 8, 2021 | Updated 14:35 IST
Monthly GST collections have been showing higher year-on-year numbers since September 2020
The New Year started with a bang for the government as far as its finances are concerned. GST collections in December 2020 showed an unexpected year-on-year growth of 11.6 per cent to Rs 1.15 lakh crore, the highest monthly GST collection so far.
So, what could be the reasons for such jump in collection in December? We talked to number of experts to explain why GST collections in December 2020 showed unexpected jump. Here are some of the reasons:
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