EXPORT INVOICES

As per the draft, every exporter should furnish to the specified authority a declaration specifying the amount representing the full export value of the goods or services. "The amount representing the full export value of goods and services shall be...

By leveraging technology, Avalara says businesses can focus on their core operations without being bogged down by the complexities of cross-border tax compliance.

Industry was facing delays in release of consignments and denial of free trade agreement benefits with authorities questioning value addition in third-party invoicing, ET reported on June 8.

White goods, chemicals, pharmaceuticals, and FMCG companies face import delays or higher duties as customs authorities scrutinize third-party invoicing at various ports. This practice, used for tax optimization, allows invoicing through a country di...

While challenges persist, the compliance levels of Indian MSMEs in terms of export have been gradually improving, say experts.

There is an emerging need for energy-importing economies like India and China to try to delink international trade from the dollar. But it is not an easy job. The dollar is at one end of nearly 90% of all foreign exchange trades. The greenback const...

In its report, done in collaboration with the Foundation for Economic Development, the Aayog has proposed a series of measures including boosting e-commerce exports, creating a comprehensive trade portal, promoting ease of merchandise exports, impro...

Onion prices in the retail trade have fluctuated from ?90 per kg to ?20/kg during the last six months, while the wholesale prices have seen a high of Rs 55/kg and lows of Rs 5/kg during the same period. Shortage in India's last year's rabi crop, fol...

India, the world's second largest onion exporter, had banned shipments of the kitchen staple in December 2023 till March 2024 due to rising domestic prices and potential shortages. This led to a surge in onion prices in neighbouring countries.

The European Union (EU) is transitioning to a paperless customs process, implementing the second phase of its Import Control System (ICS) from June 3, 2024. This move is significant for Indian exporting firms, as the EU constitutes about 17% of Indi...

Rajarshi Dasgupta, Head Tax at Aquilaw told PTI that the advisory on linking e-invoice with e-way bill will cause "technical difficulty in the hands of exporters having a turnover over Rs 5 crore as there is no time limit relaxation for the generati...

According to NIC, the move was initiated after many cases surfaced where the invoice details entered separately under e-way bill and e-invoice were not matching with respect to certain parameters.

The Indian government's decision to ban onion exports until March 2024 resulted in a drastic 60% price decline in less than three weeks. The ban aimed to address issues like under-invoicing and wrong export policies, including the absence of a fixed...

"During FY 2022-23, no crude oil imports by oil PSUs was settled in Indian rupee. Crude oil suppliers (including UAE's ADNOC) continue to express their concern on the repatriation of funds in the preferred currency and also highlighted high transact...

India has extended restrictions on onion exports until March 31, 2024, aiming to maintain ample supply and curb escalating prices of this politically significant vegetable. With a minimum export price set at $800 per tonne until December 31, 2023, t...

In July 2022, the RBI had asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency.

Veteran trade insiders say the reason why exports are still continuing in high volumes is under invoicing of onion prices by exporters, as that allows them to pay lower duty.

MSMEs don’t have deep pockets and so often find themselves in trouble when it comes to realising payments for exports. But a trade platform offers them a way to discount their invoices and get cash in hand almost immediately.

Trade finance assists both importers and exporters in developing trust in their dealings with one another, thereby facilitating trade.