The Finance Ministry has exempted the export of Bangalore rose onions from duty, provided certain conditions are met, according to a recent notification. Exporters may be granted an exemption from export duty if they provide a certificate from the state horticulture commissioner certifying the item and quantity of Bangalore Rose Onion to be exported.
Government waives export taxes on Bangalore rose onions
Engineering exports from India to the UAE and Australia have increased by 9% in the April-August period of the current financial year, providing a boost to overall engineering exports, which have seen a decline during the same period. Engineering exports to Russia have also surged by 178% during this period.
US, EU flay India’s rice export curbs
3 years ago
At a Committee on Agriculture meeting at the World Trade Organization (WTO) on Wednesday, Japan, Australia, Brazil, the EU, the UK and the US, among others, raised concerns over the impact of the ban on the global food market, highlighting its significance as the world’s largest rice exporter, accounting for over 40% of global exports.
Rice ban export is regulation rather than restriction for food security: India to WTO’s agri committee meet
3 years ago
India has defended its export ban on rice, stating that it is a regulation rather than a restriction and is necessary for the food security of its 1.4 billion people. India reiterated its commitment to ensuring food security in importing countries through exemptions granted upon request. The government has allowed exports of non-basmati rice to […]
The Export-Import Bank of India predicts a 4.8% decline in merchandise exports for the second quarter of 2023-24 compared to the previous year. This is due to a slowdown in major trading partners and global geopolitical uncertainty. The bank expects India’s merchandise exports to reach $105.4 billion in July-September FY24. Non-oil exports are projected to […]
The Indian government is continuing to purchase lentils from Canada despite the strained diplomatic relations between the two countries. This is part of India’s efforts to build buffer stocks and stabilize the high prices of pulses. Two central government agencies have issued tenders to procure red lentils from the local market as well as through […]
It is eyeing a minimum revenue commitment – linked to increments to the Wholesale Price Index – to ensure that the government’s income is not impacted if the existing concessionaires migrate to the new tariff regime, said officials. “The minimum revenue commitment will insulate the Centre from any risks associated with lower tariffs being offered […]
“The total IPO is for Rs 2,800 crore, out of which Rs 880 crore will go towards the repayment of debts. About Rs 1,200 crore will be towards capex, and Rs 700 crore will be towards general corporate purposes.”
KPMG Indirect Tax Head & Partner Abhishek Jain said the amendments proposed are aligned with the apex court’s ruling in the case of Mohit Minerals and help explicitly mention the government’s alignment to the position. “While this has been issued prospectively, the industry has been seeking and successfully claiming refund of taxes already paid for […]
India- Canada ties: The deteriorating Canada-India relationship is now threatening their economies. A potential trade deal is at risk, which could hinder India’s efforts to attract Western investment and serve as an alternative to China. Canada’s supply of potash to India may be affected, along with the higher education sector, as Indian students may avoid […]