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EXPORT OBLIGATION DEFAULT
When a small footnote is used as a tool to make a weak balance sheet look strongThis is the uncomfortable truth about company accounts. A number on a balance sheet is not always cash that will return, and a liability tu...- Force majeure enabled for 'war'-hit contracts: Govt procurers to grant case-by-case extensions, only for firms that hadn’t defaulted by Feb 27The finance ministry has authorized force majeure for govt contracts impacted by the West Asia conflict, treating it as war. This offers re...
- NeSL enabling real-time access to digital debt & claims data in insolvency casesNeSL is providing instant access to digital default records for insolvency cases. This helps authorities quickly verify debt and claims. Am...
- Govt recovers Rs 852 crore under amnesty scheme for exportersThe government recovered Rs 852 crore under the amnesty scheme for exporters for one-time settlement of default in export obligation. The s...
- Last date for exporters to apply for amnesty scheme extended till December 31The government announced the new foreign trade policy (FTP) on March 31. It included an amnesty scheme for exporters for one-time settlemen...
- Chinese technicians, engineers may get faster visas for work"There are some sectors which require technicians to come to set up plants here and that's a good idea as it will benefit our manufacturing...
- FinMin operationalises amnesty scheme for traders failing to meet export obligationThe finance ministry has operationalized the amnesty scheme for traders who defaulted in export obligation under the Advance and EPCG autho...
- DGFT lays out procedure for exporters to apply for amnesty schemeThe government announced the new foreign trade policy (FTP) on March 31. It included an amnesty scheme for exporters for one-time settlemen...
- Cases under probe for fraud, misdeclaration of material not to be covered under FTP's amnesty schemeThe government announced the new FTP on March 31. It included an amnesty scheme for exporters for one-time settlement of default in export ...
- Foreign trade policy makes $2 trillion export pushFTP 2023 emphasises ease of doing business, streamlining of processes and reducing transaction costs, a greater focus on ecommerce exports ...
- Foreign Trade Policy 2023 unveiled, govt breaks tradition of target yearUnveiling the much-awaited Foreign Trade Policy, Commerce Ministry on Friday broke the tradition of a policy lasting for five years and wil...
- Government to identify 100 districts to develop as export hubs: DGFT"Our idea is to involve more youngsters at the district level (like collectors) so that they see the initiative to boost export as a core f...
- India ready to trade in INR with countries facing currency crises, says Commerce Secy Sunil BarthwalBarthwal said that the government is focusing on strengthening the rupee payment system. The commerce ministry has made changes in the FTP ...
- Ease of doing business: Govt eases norms under export incentive schemeAs per the changes notified by the commerce and industry ministry, requests for export obligation extension should be made within six month...
- Companies under NCLT asked to inform about export liabilitiesThe total outstanding duty saved amount / dues along with interest, and any penalty imposed under Foreign Trade (Development and Regulation...
- 1,865 defaulters denied export benefits, 1,374 penalised in 3 years for misusing export promotion schemesExporters in the “Denied Entity List” were refused further benefits under the export promotion schemes. The denials and penalties were impo...
- Power producers seek protection from fuel shocksPower generating companies have expressed their inability to honour contracts bagged under tariff-based competitive bidding unless they are...
- Gold importers given export checking job tooThe Customs department has made the authorised suppliers of duty-free precious metals sold to jewellery exporters responsible for collectin...
- Penalty for PSUs violating offset policyThe government is planning to impose stringent conditions on public sector units and their suppliers under the new National Offset Policy.
- Buyers to be penalised by comexes if refuse to take deliveryNow, buyers have to pay for defaulting to take delivery on the county's leading agri-commodity exchange NCDEX, following the commodity mark...
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