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India's export up 4.39 % in June; trade deficit widens.


Date: 15-07-2017
Subject: India's export up 4.39 % in June; trade deficit widens
NEW DELHI: India's export grew by 4.39 per cent to $ 23.56 billion in June as shipments of chemicals, engineering and marine products improved, according to the official data released today.

Import too rose by 19 per cent to $ 36.52 billion in June from $ 30.68 billion in the year-ago month due to rise in inward shipments of oil and gold.

A rise in import shot up the country's trade deficit to $ 12.96 billion in the month under review from $ 8.11 billion in June 2016, the data released by the Commerce Ministry showed.

Gold import rose to $ 2.45 billion in June against $ 1.20 billion in the same month last year.

Oil import was valued at $ 8.12 billion in the month, an increase of 12.04 per cent over the same in June 2016.

Export in the first quarter of 2017-18 rose by 10.57 per cent to $ 72.21 billion while import surged 32.78 per cent to $ 112.2 billion, leaving a trade deficit of $ 40 billion.

Source: timesofindia.indiatimes.com

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What is New?

Date: 17-11-2017
Notification No. 88/2017-Customs
Seeks to increase import tariff rate of soya beans from 30% to 45%.

Date: 17-11-2017
Notification No. 87/2017-Customs
Seeks to (1) Increase the BCD on crude palm oil of edible grade from 15% to 30%; and (2) Increase the BCD on refined palm oil of edible grade from 25% to 40%. (3) Increase the BCD on crude sunflower oil from 12.5% to 25%; (4) Increase the BCD on refined sunflower oil of edible grade from 20% to 35%; (5) Increase the BCD on crude soya bean oil from 17.5% to 30%; (6) Increase the BCD on refined soya bean oil from 20% to 35%; (7) Increase the BCD on crude rapeseed oil including canola oil (Low erucic acid rapeseed oil), mustard oil and colza oil from 12.5% to 25%; (8) Increase the BCD on refined rapeseed oil including canola Oil (Low erucic acid rapeseed oil), mustard oil, and colza oil from 20% to 35%;

Date: 16-11-2017
Notification No. 110/2017 - Customs (N.T.)
Exchange Rates Notification No.110/2017-Custom(NT) dated 16.11.2017

Date: 15-11-2017
Notification No. 109/2017 - Customs (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

Date: 15-11-2017
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Date: 15-11-2017
Notification No. 65/2017-Central Tax
Seeks to exempt suppliers of services through an e-commerce platform from obtaining compulsory registration

Date: 15-11-2017
Notification No. 64/2017-Central Tax
Seeks to limit the maximum late fee payable for delayed filing of return in FORM GSTR-3B from October, 2017 onwards

Date: 15-11-2017
Notification No. 63/2017-Central Tax
Seeks to extend the due date for submission of details in FORM GST-ITC-04

Date: 15-11-2017
Notification No. 62/2017-Central Tax
Seeks to extend the time limit for furnishing the return in FORM GSTR-6 for the month of July, 2017

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Notification No. 61/2017-Central Tax
Seeks to extend the time limit for furnishing the return in FORM GSTR-5A for the months of July to October, 2017



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