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Two high courts (HCs) have served notices on the Union government, the Directorate of Revenue Intelligence, (DRI), and the Central Board of Indirect Taxes and Customs over the issue of denying rebate on integrated goods and services tax (IGST) paid by exporters enjoying the benefits of advance authorisation (AA) licence. Bombay and Punjab & Haryana HCs have issued these notices. Gujarat HC has stayed the proceedings initiated by DRI to exporters over this issue. An AA licence is issued to exporters to allow them duty-free import of inputs, which are physically incorporated in export products....

Tax experts said many exporters are already facing a lot of trouble and with some of the existing schemes already under litigation, even RoDTEP could present legal challenges for the government.

Exporters hopeful of recovery after pandemic blows in 2020 PTI New Delhi: After being severely hit by the COVID-19 pandemic this year, the country’s exports growth is expected to rebound in 2021 on the back of recovery in economic activities and demand worldwide. However, the uncertain global trade situation due to rising protectionism, which adversely impacted exports in 2019, could have a bearing on the country’s outbound shipments in the coming months. Exporters’ community is hopeful that outbound shipments would start recording healthy growth rates from April 2021, hel...

Exporters welcome RoDTEP but uncertainty on rates cause concerns January 01, 2021 × The Centre has announced the implementation of the much awaited new Remission of Duties or Taxes on Export Products (RoDTEP) scheme from January 1, 2021, but, with the rates of reimbursement yet to be finalised, exporters are worried about how to cost their products and fix prices. “There is uncertainty for exporters as they will not know how to book their orders without knowing the rates. There is also a lack of clarity on transitional times...we may need to recall some shipping bills already in transit,�...

India's exports likely to pick up in New Year Exporters' community is hopeful that outbound shipments would start recording healthy growth rates from April 2021, helped by growth in demand in developed as well as developing countries PTI | December 31, 2020 | Updated 13:10 IST In October, the World Trade Organisation (WTO) forecasted a 9.2 per cent decline in the volume of world merchandise trade for 2020, followed by a 7.2 per cent rise in 2021 After being severely hit by the COVID-19 pandemic this year, the country's exports growth is expected to rebound in 2021 on the back of recovery in ...