By Atish Laddha
The Central Government has recently introduced the new Foreign Trade Policy 2015-20 (FTP) on with an aim to increase exports of merchandise and services from India from the current (F.Y. 2013-14) USD 465.9 billion to USD 900 billion by F.Y. 2019-20, and to raise India’s share in world exports from 2% to 3.5%.
By Deepak Suneja
Supplies against International Competitive Bidding (ICB) have been on the rise with several specified projects being awarded in the recent times. In Union Budget, 2015 itself, five ultra Mega Power Projects have been announced. Considering the importance of these projects and their contribution towards economic growth, the Government has given several concessions for supplies...
By Lakshmi Neelakantan
The provisions relating to anti-dumping measures under the Customs Tariff Act 1975 (“Act”) and the Customs Tariff (Identification, Assessment & Collection of Anti-Dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 (“AD rules”) provide for different time periods for different stages of proceedings. This article seeks to analyze whether the time ...
By Manoj Gupta
Recently we saw how two bilateral agreements made the existence of WTO seem more relevant, by infusing more energy in the apex trade body. While agreement between India and USA on India’s food security programme and subsidies relating thereto allowed the WTO to move forward on the Trade Facilitation Agreement (TFA), an agreement between USA and China on the other hand brought t...
By Bhargav Mansatta
Section 9AA [see end note 1] of the Customs Tariff Act, 1975 provides for refund of anti-dumping duty in certain cases. It provides as below:
(1) Where upon determination by an officer authorised in this behalf by the Central Government under clause (ii) of sub-section (2), an importer proves to the satisfaction of the Central Government that he has paid anti-dumping dut...
By Iype Mathew
One of the important changes made as part of the amendments brought by Finance (No. 2) Act, 2014 is the amendment to the provisions relating to pre-deposit and grant of stay in Customs, Excise and Service Tax laws. Earlier, though pre-deposit of the full disputed amount was prescribed yet the appellate authority was vested with the discretion to waive pre-deposit and to grant ...
By V. Sivasubramanian
In this year’s budget, i.e. Budget 2014-15, the Joint Secretary, Tax Research Unit [JS (TRU)-I], Central Board of Excise & Customs [‘CBEC’ or ‘Board’], has sought to clarify the legal position involving interpretation of certain Customs and Central Excise notifications through an annexure to his covering letter [see end note 1] addressed to the Chief Commissioners and Co...
By R. Subhashree
In The Trade Facilitation Agreement (TFA) was signed at Bali eliciting congratulations and relief, apparently lending credibility to the World Trade Organisation (WTO). As always the statistics look promising - reduction in cost by 10% in developed countries and upto 15 % in developing countries. However, what the agreement seeks to achieve rather impose (since it is binding ...
Lakshmikumaran & Sridharan will be the knowledge partner in the seminar series on Budget 2017 being organised by Institute of Business Laws (IBL) from 2 February, 2017 to 3 February, 2017 in various cities to guide manufacturers, service providers, professionals, exporters, importers, entrepreneurs and others from trade and commerce.
In these seminars e...
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