Government relaxes norms for export of imported goods
PrintListen to this Article
To encourage shipments, the government has allowed export of imported goods with 15 per cent value addition to countries from where the proceeds are realised in Indian rupee.
The Directorate General of Foreign Trade(DGFT) will notify the names of those countries as to which exports under the new dispensation could be made.
"An enabling provision has been made to allow export of goods imported against payment in freely convertible currency where export proceeds will be realized in rupees," it said.
It said that this dispensation will be applicable to such countries as would be notified by DGFT from time to time.
"They also have to achieve 15 per cent value addition," it added.
India's exports in 2012-13 fiscal fell for the first time in three years reporting a dip of 1.8 per cent to $300.6 billion in 2012-13, taking the country's trade deficit to a record high level of $191 billion. (PTI)
Category : General | Comments : 0 | Hits : 301
Retirement fund body EPFO has said it will no longer use Aadhaar as a valid document for proof of date of birth. In an official circular on January 16, the Employees' Provident Fund Organisation (EPFO) said the decision to remove Aadhaar was taken following a directive from the Unique Identification Authority of India (UIDAI). As per the circular, Aadhaar is also being removed from the list of documents for correction in date of birth.
A five-day-long Special Parliament Session will be held from Monday. A Parliamentary Bulletin said, that on the first day a discussion on the Parliamentary Journey of 75 years starting from Samvidhan Sabha - Achievements, Experiences, Memories, and Learnings will be held in Lok Sabha. The Government has listed Bill on the appointment of the Chief Election Commissioner, and other election commissioners in the upcoming Parliament Session. Apart from this The Advocates (Amendment) Bill, Th...
Artificial intelligence can substitute neither the human intelligence nor the humane element in the adjudicatory process, the Delhi high court has held and said ChatGPT can't be the basis of adjudication of legal or factual issues in a court of law. Justice Prathiba M Singh stated that the accuracy and reliability of AI generated data is still in the grey area and at best, such a tool can be utilised for a preliminary understanding or for preliminary research. The court's observati...
Domain + Website + Hosting + 2 email ids @ Just Rs.3100/- with 30 days Money Back Guarantee. CASANSAAR offers a Golden opportunity for Professionals, where they could create their own stunning website with multiple designs and templates to choose. It will be completely your own space, which is going to be a Dynamic Website and could be edited as per your wish. Now Get 2 Email ID's with Your Own Websi...
The Delhi High Court Monday sought the Centre’s stand in a plea against a notification where chartered accountants, company secretaries and cost accountants have been included among “reporting entities” under the Prevention of Money Laundering Act (PMLA) A division bench of Chief Justice Satish Chandra Sharma and Justice Sanjeev Narula granted time to Additional Solicitor General Chetan Sharma, who appeared for the Centre, to “seek instructions” and listed the ma...
Comments