Gold is being imported to India for a very long time and in quite a large quantity. The reason is that gold is used in various customs, marriages, traditions as well as investments by the Indians. It is quite a valuable asset. Indians love investing in gold to have a good financial balance. The demand … Read more
In the first seven months of 2021-2022, India has made record progress in the number of exports. From April – to September 2021, India has exported goods worth more than $197 billion, and the monthly export amount has been above the $30 billion mark. Hence, Export business in India is highly profitable. If you also … Read more
Any industry or business relies heavily on the flow of commodities. Seeds and insecticides, for example, are essential for farmers in the agricultural sector. As a result, they need the transportation of these items from the producer to their location. Manufacturers send their products to online retailers, where they are stored and delivered to customers. … Read more
Despite the fact that the government’s earlier plan to boost exports via subsidies hasn’t worked, the new tax rebate scheme for export industries have received quite good acceptance and are assisting the country’s merchandise exports to reach a record $400 billion current financial years as per the Commerce and Industry Minister. Thus, Every exporter must … Read more
It was on Tuesday that Finance Minister Nirmala Sitharaman came out with the Union Budget for 2022-23. She stated she wants to raise the basic customs duty (BCD) on many common items that people buy, like headphones or earphones. This is to help the country make more of these things in the country and support … Read more
The IEC is required for buying or selling goods outside the nation and hence as a sole proprietor, you need to apply for IEC code registration. The IEC code is obtained from the Directorate General of Foreign Trade. It is a permanent 10-digit number to perform any foreign transaction. To acquire, the IEC code, a … Read more
One can not conduct their import and export business legally in India without having an IEC Certificate. Hence, the Import Export Code offers several advantages. You must also note that IEC Code or IEC Certificate is mandatory for every exporter except those who have an exemption under Foreign Trade Policy. As a result, it becomes … Read more
The existing foreign trade policy (FTP) from 2015 to 2020 that is applicable up to 30 September will now be up to 31 March 2022, the DGFT (directorate general of foreign trade) said in the notice. After the coronavirus outbreak, the policy was 1st delayed by a year to the end of 2020 march and … Read more
The tobacco industry in India wants tax incentives to assist boost exports. As we all know, there’s a decreasing export base due to an increase in competition from smaller nations. Therefore, Indian Tobacco seeks 5% tax relief. The Indian Tobacco Association (ITA) which accounts for 90%-95% of the export of tobacco has requested that the … Read more
Good News for Importers and Exporters as DGFT Extended Last Date for IEC Updation/ Modification. However, the extended last date is for a limited time only. Furthermore, DGFT has also given a fee waiver for IEC updation.In this article we will discuss in detail about DGFT Extended Last Date for IEC Updation/Modification. DGFT Extended Last … Read more