Kirtika Suneja

  • Ecomm gifts prohibited to curb Chinese imports

    Ecomm gifts prohibited to curb Chinese imports

    Duty-free gifts via courier and post will no longer be cleared by Customs; exceptions would only apply for import of life-saving drugs and rakhis. The move is aimed at curbing imports by Chinese ecommerce vendors who were evading duties by declaring commercial shipments as gifts.

    Overall global slowdown impacted textiles but no report on decline in industry: Smriti Irani

    Overall global slowdown impacted textiles but no report on decline in industry: Smriti Irani

    “Overall global growth slowdown no doubt impacted the growth of most of the domestic sectors including textiles and subsequent improved demand and profitability will no doubt be partly countered by sticky working capital requirement,” she said in a written reply to a question on expected improvement in overall credit profile of textile sector

    No decline in exports under GSP tariffs after benefits withdrawn: Piyush Goyal

    No decline in exports under GSP tariffs after benefits withdrawn: Piyush Goyal

    In 2018, India exported goods worth of $6.3 billion (as per USTR figures) to the US under the GSP, which was around 12.1 per cent of India’s total export to the US. The average duty concessions accruing on account of GSP were almost $240 million in 2018, which was about 3.8 per cent of India’s exports to the US availing the GSP benefits.

    Setback for India as WTO extends nil tax on e-transmissions

    Setback for India as WTO extends nil tax on e-transmissions

    As per an UNCTAD study, India’s potential loss of revenue by not taxing electronic transmissions is around $500 million every year. Of the total $8 billion of potential tax losses projected for 58 developing countries, Mexico, Thailand, Nigeria, India, China and Pakistan face the highest losses, revealed the research paper.

    India can continue with disputed export subsidies

    India can continue with disputed export subsidies

    The US has blocked the appointment of judges for more than two years, crippling the multilateral trade agency’s dispute settlement mechanism. It has criticised the body for its “flawed” interpretation in various cases, failure to issue reports within the mandatory 90-day period, its composition and compensation to the members.

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