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The Supreme Court on Thursday sought a response from the Centre on a PIL filed by advocate M.L. Sharma seeking direction to the CBI to register an FIR and probe the alleged duty evasion by 61 firms in smuggling iron ore to China since 2015.
African countries are known to export largely primary products only to turn around to import processed goods. This has led to perennial trade deficits and a continuous decrease of Africa’s share of the global value chain. Examples abound. Crude oil represents over 75% of Nigeria’s exported goods but the country relies on the importation of refined petroleum products for its local needs. The same can be said of the global cocoa industry which is worth more than USD100 billion and largely fed by the 70% of world cocoa exports that come from Africa, whilst the continent has less than 8% of t...
Factoryless goods producers are a fruitful consequence of the evolution of global value chains. This column shows that the trade value of their output may be largely underestimated. The true export value to producers like Apple and Nike to countries like China – where many of these companies’ products are assembled – is far higher than the value of the tangible good itself,
Ludhiana: Almost a week after foiling the attempt to smuggle about 30 lakh cigarettes at one of the inland container depot (ICD) at Ludhiana, customs .
The scope of goods falling under this requirement is defined through Harmonized System (HS) Codes. When will this requirement be effective? The effective date depends on the types of goods as follows: Tobacco and alcohol products – as of 1 January 2021 Beer products – as of 1 April 2021 Household appliances – as of 1 December 2021 Drugs and medical products – as of 1 February 2022 Drinking water and soft drinks – as of 1 March 2022 How will it affect your business? Import. Generally, you will not be able to import unlabeled products into Uzbekistan from the effective date, as listed...