Articles

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As we wrote in our last article dt. June 13, there have been many pitfalls and also loose ends in the way the applications for Service Exports Incentive Scheme (SEIS) were being filed. Many service exporters were filing applications without proper knowledge of the category their services would fall ...
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For past many months news has been surfacing in the media that those companies that have wrongly claimed services export benefits under the erstwhile Served From India Scheme (SFIS)  are being asked via DRI to repay the incentive amount to Govt. This incident which is not malignant on the companies...
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Exporters who need to import Raw Material for their Export Product have traditionally been doing so using Advance Authorisation (AA) and thus getting the exemption on Basic Customs Duty(BCD) and additional duties like CVD, SAD etc. Since CVD/SAD could be taken the credit off and used in domestic sal...
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The general perception is that the scrips that are issued to an exporter as an incentive against his exports of goods or services can be utilised to import any importable item. Many times importers use the scrips even for items for which it is not allowed, as it is not blocked by the customs softwar...
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 Service Exporters got yet another bonanza when the Government announced that the SEIS scrips that they receive against their exports, will now be issued at the increased rates for the next financial year too. Ie. for FY 2018-19.Eligible Service Providers in India who receive their pa...
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After GST roll out on 1st July 2017, one of the key factors which impacted exports mostly was reduction in usability of duty credit scrips such as: Merchandise Export from India Scheme (MEIS) and Services Exports from India Scheme (SEIS) etc. These were the direct monetizable incentives given as a p...
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FTP 2015-20 Mid Term Review Unveiled Finally, the Mid-Term Review has now been released, by the Commerce Minister Suresh Prabhu on 5thDecember 2017 in a packed Ashoka Hotel hall.Government has tried to put some balm on the harassed exporters by increasing the incentives to various MSME sectors ...
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Algerian Govt has directed to all its banks to suspend auto-debit instruction for imports for a list of items from 4th July 2017. This may create problems in payment realization for Indian exporters who have been sending their exports to Algeria even after 4th July without ensuring mandatory complia...
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GST will have a MAJOR impact on your Exports and Imports - The upcoming GST will change the way we do businesses. It will also have a substantial impact on Exporters and Importers, and those who supply to Exporters. While GST will surely bring in some simplicity in the way we do duty optimization an...
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With introduction of GST, the central government has proposed the following changes in IEC:GST Registration (GSTIN) Number is a 15 digit alpha numeric code. GSTIN Number will be used for the purpose of import in case of IGST credit, and refund or rebate of IGST in the case of export as identifie...
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