Budget 2024: Income Tax Slabs for FY 2024-25

Budget 2024: Income Tax Slabs for FY 2024-25 In the interim fiscal year 2024-25 budget, Finance Minister Nirmala Sitharaman announced no changes to the income tax slabs, meaning taxpayers will calculate their taxes for the upcoming year just as they…

The Significance of Shipping Bills in International Trade: A Guide for Exporters

The Significance of Shipping Bills in International Trade: A Guide for Exporters Successful export businesses rely on meticulous planning, adherence to regulations, and seamless logistics in the complex world of international trade. The shipping bill is a crucial document for…

Certificate of Origin (CoO) – DGFT CoO

Certificate of Origin (CoO) – DGFT CoO Certificate of Origin (CoO) is paramount in international trade as it is a definitive document establishing the origin of goods exported from India. Issued by the Directorate General of Foreign Trade (DGFT), this…

Special One-time Amnesty Scheme for default in export obligation by EPCG and Advance Authorisation Holders

Special One-time Amnesty Scheme for default in export obligation by EPCG and Advance Authorization Holders Recently, the Ministry of Commerce and Industry, vide Public Notice No. 2/2023 dated 1st April 2023, introduced the Amnesty Scheme for default in export obligation by…

Authorized Dealer Code (AD Code)

Authorized Dealer Code (AD Code) In international trade, navigating customs procedures and regulations is fundamental to conducting business across borders. Among the essential requirements for seamless customs clearance and efficient trade operations is the Authorized Dealer Code (AD Code). The…

Foreign Trade Policy 2023

Foreign Trade Policy 2023 Recently, vide notification no. 01/2023 dated 31st March 2023, the Foreign Trade Policy 2023 was notified. The newly launched Foreign Trade Policy 2023 is made effective from 1st April 2023. Importantly, Foreign Trade Policy (FTP) is…

Non-Ferrous Metal Import Monitoring System (NFMIMS)

Non-Ferrous Metal Import Monitoring System (NFMIMS) The Directorate General of Foreign Trade (DGFT) has received several representations from Trade and Industry seeking clarification on the Non-Ferrous Metal Import Monitoring System (NFMIMS). In this regard, a policy circular has been issued…

RBI allows International Trade Settlement in Indian Rupees

RBI allows International Trade Settlement in Indian Rupees On July 11th, 2022, the Reserve Bank of India announced a big decision by allowing trade settlements between India and other countries in Indian Rupees (INR). This measure is aimed at facilitating…

Electronic Bank Realization Certificate (e-BRC)

Electronic Bank Realization Certificate (e-BRC) Electronic Bank Realization Certificate (e-BRC) is an essential digital certificate for those in the export business. A bank issues it as confirmation that the exporter has received payment from the buyer against the export of…

Registration of Irrevocable Commercial Letter of Credit (ICLC) for Wheat Export

Registration of Irrevocable Commercial Letter of Credit (ICLC) for Wheat Export India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to a DGFT Notification No. 06/2015-2020 dated May 13, 2022. DGFT…