CUSTOMS BONDED WAREHOUSE
Electoral bonds: A look at top buyers, other key numbers
Here’s a look at the top electoral bond buyers along with an examination of some of the other key numbers that have emerged from the initial data dump.
Aiming to bring agri NPAs down to 7%: Dinesh Kumar Khara, SBI
So, this is eventually going to get reflected in the inflationary trend. And my expectation is that it should come back to within the RBI's tolerance limits and that is something which should go well in terms of the interest rate trajectory.
CBIC issues SoP to check use of freebies, liquor to lure voters during elections
The CBIC has come out with detailed instructions for tax officers to implement the directions of the Election Commission with regard to the use of freebies, illicit cash, liquor and drugs to lure voters, and asked them to share information with other enforcement agencies. The GST and Customs officials will also be required to monitor the distribution of coupon-based or free fuel or cash for alluring prospective voters under the new Standard Operating Procedure (SoP).
How warehousing companies can leverage the new Foreign Trade Policy
By aligning with the imperatives of the Foreign Trade Policy, these warehousing companies can significantly contribute to improving the competitiveness of Indian products in the international arena.
Centre will continue to monitor tur, urad dal stocks; more central team to visit states
The Union Food and Consumer Affairs Ministry on Monday asserted that it will continue to monitor domestic stocks of tur and urad dals, and take measures to ensure that traders disclose their inventories properly.
How a Texas border city is shaping the future of global trade
American companies sobered by the supply chain upheavals of the pandemic and alarmed by the animosity between the United States and China are reducing their dependence on factories across the Pacific by shifting production to Mexico.
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CAG asks customs dept to ensure periodic audit of SEZs
It also asked the customs department to ramp up its IT systems to track, monitor submission and renewal of solvency certificates, duty bond and bank guarantee, and risk insurance policy.
Maersk leases 2.43-lakh-sq-ft warehouse in Bhiwandi near Mumbai
The company will be paying lease rentals of over Rs 5.71 crore in the first year. The agreement includes a clause to escalate the rentals by 4% every 12 months. Out of total tenure of the lease, the first three years will be a lock-in period for Damco India and the landlord will have a lock-in period of the entire five years.
A.P. Moller - Maersk inaugurates two warehouses in India
The warehouses in Farrukhnagar, Harayana and Dadri, Uttar Pradesh, take the company's total warehousing footprint to 3.3 million sq. ft. spread across 20 facilities in India
In case of conflict, IBC prevails over Customs Act: Supreme Court
The top court also held that the customs authority cannot claim title over the goods and issue notice to sell the goods in terms of the Customs Act when the liquidation process has been initiated against the corporate debtor.
SC holds in case of conflict Insolvency and Bankruptcy Code prevails over Customs Act
A bench of Chief Justice NV Ramana and Justices JK Maheshwari and Hima Kohli set aside an order of the National Company Law Appellate Tribunal (NCLAT) by which it had allowed the appeal of the Central Board of Indirect Taxes and Customs (CBIT-C) against the verdict of NCLT directing the release of certain goods lying in the Customs Bonded Warehouses without payment of customs duty and other levies.
This is how RoDTEP scheme can impact exports
After missing several deadlines, the Ministry of Commerce notified the guidelines and rates under the scheme on 17 August this year.
Companies seek clarity on depreciation on capital goods imported to bonded warehouses
The government has allowed duty-free import of raw materials and capital goods for undertaking manufacturing in customs bonded warehouses (CBWs) under this scheme introduced this year.
MOOWR– A new warehouse scheme can play a key part in India’s trade
The revised scheme has caught the attention of many corporates in India and some large multinational companies are considering this option given the distinct advantage and ease of administration, unlike other export formats.
Manufacturing under Customs Bonded Warehouse – Opening up new possibilities
The manufacturing industry expects that the government, through the Budget, would bring in incentives or new schemes to infuse fresh life and to also, promote foreign investment in this sector which will assist in generating employment.
Government to seek cabinet approval for the merger of CRWC with CWC
The government will soon seek cabinet approval for the merger of Central Railside Warehouse Company (CRWC) Limited with Central Warehousing Corporation (CWC), in line with its vision to reduce wasteful administrative costs by way of privatisation or
Bengaluru airport opens 10,000 sq ft warehouse
Operated by Cargo Service Center (CSC), the on-airport public bonded warehouse would be under the jurisdiction of theCity Commissionerate, Bengaluru Customs.
Electronic sealing for deposit and removal of goods from warehouses deferred
The customs department has deferred the implementation of mandatory electronic sealing for deposit and removal of goods from customs warehouses, till April 30, after it received representations from stakeholders.
CBIC again defers e-sealing on deposit, removal of goods from customs warehouses
"The board has decided to further defer the implementation" of electronic sealing for deposit in and removal of goods from customs bonded warehouses, the CBIC said.
Importers petition withdrawn in customs bonded warehouse IGST case
The amendments in the GST law announced on July 8 have exempted the tax on the second leg of the transaction, when the sale happens within the customs bonded warehouse.
GST to be levied on goods stored in customs warehouse only on final clearance: CBIC
"The supply of goods before their clearance from the warehouse would not be subject to the levy of integrated tax," the CBIC said in a circular.
Ikea opens distribution centre in Pune; to invest Rs 750 crore in Maharashtra
The distribution centre has been set up to service its first store scheduled to be opened in Hyderabad by the middle of the year, followed by the second store in Mumbai in 2019.
Ritesh Jain’s what I read this week: Pain points of our economy, and those in Europe
Assets sales are happening, but at a slow pace. The public sector also wasn’t very forthcoming to pick up the slack created by weak private capex spending.
CBEC removes special warehouse need for nominated agencies importing gold for export
This means RBI-authorised banks, agencies like MMTC, STC, etc, can import the quantity required by the exporters and not be bound by warehousing restrictions.
CBEC tweaks warehousing norms for imported goods
CBEC said that having regard to importers/industries with long gestation/ goods of strategic importance, it has decided dispense with the requirement for security.
RBI relaxes norms for aircraft, helicopter imports
Relaxing norms for aircraft and helicopter imports, RBI said banks can allow advance remittances for imports once the company has approval from aviation regulator DGCA.
Lack of discipline and mass dumping leaves GVK-run Mumbai Airport's cargo terminal in shambles
The Mumbai International Airport Ltd may boast of a spanking new Rs 5,500-crore passenger terminal, but its cargo facility lies sadly neglected.
Dispute over labelling norms: Imported chocolates rotting in warehouses across India this Diwali
Over 200 tonnes of imported gourmet chocolates from around the world are rotting in dusty warehouses across Indian ports and airports.
Now, customs moves to blunt gold imports
According to the existing norm, after importing gold, exporters have the option of realising the payment within 270 days.
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