INDIA

INDIA: Trade Deal with Mauritius Officially Approved

23 February 2021

The signing of the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius has now been approved, making this the first trade agreement the country has signed with an African nation. More

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INDIA: Import Duty Hiked on Textile and Electrical Items

09 February 2021

The country’s 2021 Union Budget has increased import duties on a wide range of goods as the government looks to promote and boost domestic manufacturing. With many of these customs duty changes having taken effect from 2 February 2021, full details can be found on the Union Budget website under “Customs Notifications”. More

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INDIA: Overseas Brands Set to Benefit from New Cosmetics Regime

01 February 2021

New regulations have seen the cost of registering a cosmetic product cut from US$2,000 per category to US$1,000 per category, while the validity of the registration period has also been extended from three years to five. More

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NEPAL: Revisions to Bilateral Trade Treaty with India Set for Adoption

14 December 2020

The country has entered an agreement with India with regard to establishing a bilateral trade forum as a channel for updating their existing trade and transit treaty. More

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INDIA: Jewellery Sector Pushes for E-Commerce Tax Exemptions

11 December 2020

The country’s Gem & Jewellery Export Promotion Council (GJEPC) has called on the Finance Ministry to exempt the sector from the 2% digital Equalisation Levy (as introduced in the Finance Act 2020), as this affects the e-commerce procurement of rough diamonds. More

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INDIA: Clarification Issued on Duty Exemption for Durable Containers

30 November 2020

A clarification has been issued with regard to the conditions for claiming customs duty and integrated tax exemptions on durable containers temporarily imported (for a period of up to six months). More

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INDIA: WhatsApp Payments Service Gets Regulatory Approval

16 November 2020

WhatsApp has received regulatory approval to roll out its digital payments service in India. The National Payments Corporation of India (NPCI), the country’s retail payments regulator, granted approval to the Facebook-owned service in light of the rapid rise in the use of digital payment systems. More

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INDIA: Cargo Charter Flights by Overseas Operators Limited to Six Airports

03 November 2020

Ad hoc and non-scheduled freighter charter service flights by overseas carriers have been restricted to just six of the country’s airports, according to a statement from the Directorate General of Civil Aviation (DGCA). More

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INDIA: Proof of 35% Value Enhancement Required for FTA Import Duty Eligibility

09 October 2020

Importers must now demonstrate to the relevant customs authorities that items transported into the country under concessional duty arrangements have undergone at least a 35% value-added process within a country India has a Free Trade Agreement (FTA) with. The measure, introduced by the Ministry of Finance, came into full affect as of 21 September this year. More

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INDIA: Nationwide Remote Import Assessment Scheme Adopted

06 October 2020

Remote, anonymous assessments of imported goods are to be introduced at all the country’s ports from 31 October, according to a statement from the Central Board of Indirect Taxes and Customs (CBIC). More

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