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The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the goods were cleared under the advance authorization scheme, according to which all the duties are...
The RBI has taken a pivotal step by permitting 20 banks operating in India to open 92 Special Rupee Vostro Accounts (SRVAs) with partner banks from 22 countries. This allows exporters and importers from these nations to conduct trade transactions in domestic currencies, facilitating smoother and mor
Also, an MoU has been signed between the RBI and the Central Bank of UAE to enable exporters and importers to invoice and pay in domestic currencies
The announcement of India's Foreign Trade Policy (FTP) 2023 marks a significant milestone in India's trade ecosystem. With a vision to increase exports manifold and propel India's export value to $2 trillion by 2030, the FTP 2023 focuses on dynamic and open-ended policies that accommodate emerging needs.
The Director General of Foreign Trade (DGFT) has laid down the procedure for applying for the amnesty scheme for one-time settlement of default in export obligations by Advance and Export Promotion...