DGFT Amends Handbook of Procedures: GST Input Tax Credit for Advance Authorization Scheme

By means of Public Notice No. 34/2023, dated October 13, 2023, the Directorate General of Foreign Trade (DGFT) has proposed a noteworthy amendment to Paragraph 4.10 (i) of the Handbook of Procedures, 2023. With this amendment, materials covered by the Advance Authorization Scheme that require GST payments are permitted to use the Input Tax Credit. […]

Ease of Doing Business: FSSAI Waives Clearance for Re-exported Food Imports

There have been important changes pertaining to imports, as advised by the Food Safety and Standards Authority of India (FSSAI). The Customs Department is no longer required to obtain FSSAI clearances for specific imported food ingredients and products when using FSSAI, according to recent changes. Previously, food consignments meant for captive use or the production […]

Empowering Tomorrow: India’s Visionary Leap into a Green Energy Future

Introduction In the pulsating heart of South Asia, India stands at the crossroads of an unprecedented transformation – a monumental journey toward a sustainable and eco-friendly energy future. Faced with the dual challenge of fostering robust economic growth and mitigating the environmental repercussions of rapid development, India has charted an ambitious course in energy transition. […]

India and UK Conduct Inaugural ‘2+2’ Foreign and Defence Dialogue

The India-UK ‘2+2′ dialogue examined cooperation in the areas of energy, trade, investment, defence, critical technologies, civil aviation, and healthcare. It also talked about international developments, especially in the Indo-Pacific region, and anti-terrorism initiatives. The discussion precedes a possible visit by British Prime Minister Rishi Sunak and is a component of the two countries’ comprehensive […]

India-Australia Relations Maturing: Focus on CECA Negotiations

Australia’s Opposition Leader, Peter Dutton, has underscored the mature relationship between India and Australia, highlighting the need for a considerate approach to sensitivities, particularly in the dairy and certain agricultural sectors, within the framework of the Comprehensive Economic Cooperation Agreement (CECA). Dutton has emphasized the importance of prioritizing critical minerals, education, defense, and various agricultural […]

Kirit Parikh Committee recommendations on oil sector

Indian Government in June 2013 formed a committee under the Chairmanship of Dr. Kirit S. Parikh, Former Member of The Planning Commission, to look into the current pricing methodology of petroleum products like High speed diesel, PDS Kerosene and Domestic LPG and suggest a pricing mechanism benchmarked to export parity pricing as well as to […]