EXPORTERS

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India’s Textiles Exports Highest Ever in FY 2021-22

India scaled its highest ever exports tally at US $44.4 Bn in Textiles and Apparel (T&A) including Handicrafts in FY 2021-22, indicating a substantial increase of 41% and 26% over corresponding figures in FY 2020-21 and FY 2019-20, respectively. USA was the top export destination accounting for 27% share, followed by EU (18%), Bangladesh (12%) …

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Government Orders Physical Verification For Wheat Export

The Directorate General of Foreign Trade has directed Regional Authorities to physically verify all documents of applicants for export of wheat before issuing Registration Certificates (RCs). The order has been issued to ensure that the exporters are not issued RCs based on improper documents. In order to plug the loophole, it has been decided that …

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India is The Best Country For Investment: Piyush Goyal

India is the most preferred country in the world for investment. There are massive opportunities for global investors here. So they should invest in India. Along with this, there is a need to focus on the export of services sector to boost the total exports of the country. In the annual meeting of the World …

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Indian Exports Registers Growth Of 106%

Exports of Indian Chemicals has registered growth of 106% in 2021-22 over 2013-14. India’s exports of Chemicals for 2021-22 hit a record at US$ 29296 Million, whereas in 2013-14 India’s Chemical exports was US$ 14210 Million. Highlighting the achievement in a Tweet, Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and …

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Breaking: India Creates Record By Exporting Worth $400 Billion

Breaking: India Creates Record By Exporting Worth $400 Billion

Prime Minister Narendra Modi on Wednesday said that exports have not only grown by 37 per cent from last year but are the highest ever. The country had set an ambitious target of exports of $400 billion, which has been achieved nine days before the end of March 31. In the next nine days, the …

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Merchandise Exports Will Cross $400 Billion Target This Year: Piyush Goyal

Merchandise Exports Will Cross $400 Billion Target This Year: Piyush Goyal

The country’s merchandise exports have reached $390 billion in the current financial year till March 14, 2022. Giving information on Thursday, Commerce and Industry Minister Piyush Goyal claimed that we will cross the export target of $400 billion in 2021-22. Addressing an event organized by the Automotive Component Manufacturers Association (ACMA), Piyush Goyal said that …

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RBI Gives Big Gift To Exporters

RBI Gives Big Gift To Exporters

The Reserve Bank of India (RBI) on Tuesday gave a big gift to the exporters. The central bank extended the Interest Equalization Scheme for pre and post shipment rupee credit for MSME exporters till March 2024 with an aim to boost outbound shipments. Explain that exporters get subsidy under this. Earlier last year in April 2021, this scheme …

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Government Extends Due Date For Submitting Applications Under Merchandise Exports From India Scheme (MEIS)

Government Extends Due Date For Submitting Applications Under Merchandise Exports From India Scheme (MEIS)

Vide notification no. 58/2015-2020 dated 7th March 2022, the Central Government has extended due date for submitting applications under Merchandise Exports From India Scheme (MEIS). As mentioned in the notification: The last date for submitting applications under MEIS (for exports made in the period – 01.04.2020 to 31.12.2020), ROSCTL, ROSL and 2% additional ad hoc …

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ITS ALL ABOUT STAR EXPORT HOUSES (CHECKLIST AND REGISTRATION PROCEDURE)

The main objective of foreign trade policies is to make the import-export process simple and attractive for importers, exporters, and traders. There are various export promotion schemes, and Status Holder Certificate is one of them. The Objective of the Star Export House Certificate or Status Holder Certificate is to boost export performance. As per the …

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Union Minister Piyush Goyal Interacted With Exporters And Artisans in Lucknow

Union Minister Piyush Goyal Interacted With Exporters And Artisans in Lucknow

Union Minister Piyush Goyal has Interacted with exporters and artisans in Lucknow on 14th November 2021. Some of his statements during the interaction are as under: The way you illuminate the name of India all over the world with your skills, the economy of the country is not only benefited by it, as well as …

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Important Update: GSTN is Organizing Webinars on Functionality to Fetch Bill of Entry (BoE) from ICEGATE Portal

Important Update: GSTN is Organizing Webinars on Functionality to Fetch Bill of Entry (BoE) from ICEGATE Portal

Recently, a self-service functionality has been made available on the GST Portal for taxpayers to fetch the missing Bill of Entry details from ICEGATE if these details are not auto-populated in their Form GSTR-2A. For creating awareness amongst all the stakeholders, GSTN is holding webinars, as per details given below: Date: 30/09/2021 Language: Hindi Time: …

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Government Notifies Regulations For Post Export Conversion Of Shipping Bill in Certain Cases

CBIC Notifies Electronic Duty Credit Ledger Regulations 2021

Notification No. 75/2021-Customs, Dated 23rd September 2021, CBIC has notified Electronic Duty Credit Ledger Regulations, 2021. These regulations will specify the manner of issuance and use if duty credit in the electronic ledger. Notification Link: Notification No. 76/2021-Customs, Dated 23rd September 2021, CBIC has notified the manner to issue duty credit for goods exported under …

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goods exports

India’s engineering goods exports registered a growth of 52.4% during the month of June 2021

Merchandise exports in June 2021 were USD 32.50 Billion, as compared to USD 21.91 Billion in June 2020, exhibiting a positive growth of 48.34 per cent. Indian engineering exports were on their upward journey in June, 2021 following the trend of the last two months. India’s engineering goods exports registered a growth of 52.4% during the month …

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Amendment in AEO Programme; auto renewal of AEO T1 validity for continuous certification based on continuous compliance monitoring

Is Your Export Refund Stuck due to Mismatch between GSTR-1 and GSTR-3B? Here is Big Relief Provided by the CBIC

The Central Board of Indirect Taxes & Customs (CBIC) has issued Circular No. 04/2021-Customs dated 16th February 2021 regarding extension of IGST Refund Circular for records not transmitted due to GSTR1 & GSTR3B mismatch error up-to 31.03.2021.

SUGGESTIONS ON “HOW TO REVIVE POST COVID-19 INDIAN ECONOMY”

I am contributing my suggestions on “How to Revive Post COVID-19 Indian Economy” : 1.) The Government has to take strong measures to boost liquidity in the Market. 2.) To start stabilizing the economy, there should be gradually lifting of the lockdown. 3.) Invite Foreign Companies to invest and to start their units in India …

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MEASURES TO REVIVE INDIAN ECONOMY FROM CORONA VIRUS (COVID-19) IMPACT

Coronavirus outbreak was first reported in Wuhan, China on 31 December, 2019 and spread throughout world by the end of March 2020 with the number of COVID-19 cases leaning dangerously more than 29,00,000 and the worldwide death toll crossing more than 2,00,000 till the date of writing of this article. The World Health Organization (WHO) …

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CBIC CIRCULAR : IMPORT/EXPORT OF GOODS WITHOUT FURNISHING BONDS ALLOWED

The Central Board of Indirect Taxes and Customs (CBIC) on Friday allowed businesses to import and export goods without furnishing bonds to the customs authorities till the end of the month, a move aimed at facilitating trade during the lockdown due to the COVID-19 pandemic. In a circular, the CBIC said importers and exporters will …

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JUST IN : GST COUNCIL TO DEFER NEW RETURNS, E-INVOICING & TO EXTEND DUE DATE FOR JAN, 2020 GSTR-3B

> Centre proposes to extend GSTR-3B facility till Sept, 2020. Council had decided to end GSTR-3B from April 2020 & shift to new return. > GST Council likely to extend deadline for filing of GSTR-3B for Jan, 2020 till 31st March, 2020. > Council to deliberate on clarity on levy of interest on delayed GST …

JUST IN : GST COUNCIL TO DEFER NEW RETURNS, E-INVOICING & TO EXTEND DUE DATE FOR JAN, 2020 GSTR-3B Read More »

TWO DIRECTORS ARRESTED FOR FRAUDULENTLY CLAIMING IGST REFUND ON EXPORT WORTH RS. 61 CRORE

DGGI (Hqrs.) booked a case on 06.03.2020 against M/s Aastha Apparels Pvt Ltd & others. Aforesaid companies have fraudulently claimed IGST refunds on export of goods to the tune of more than Rs. 61 Crores. It has been revealed that ITC has been fraudulently availed by M/s Aastha Apparels Pvt Ltd & others on the …

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STANDARD OPERATING PROCEDURE TO BE FOLLOWED BY EXPORTERS TO GET THEIR REFUND

(1.) As you are aware, several cases of monetisation of credit fraudulently obtained or ineligible credit through refund of Integrated Goods & Service Tax (IGST) on exports of goods have been detected in past few months. On verification, several such exporters were found to be non-existent in a number of cases. In all these cases …

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