India Global Trade Advisory has been saved
India Global Trade Advisory
Global Trade is a multi-faceted area that requires a high degree of pragmatic support. Deloitte Tax Global Trade Advisory practice includes practitioners with various backgrounds which include legal, accounting, auditing, technology, customs, excise, and import/export compliance; who provide local country insight while keeping global operations in mind.
Explore quarterly newsletters released so far to stay updated.
Issue 5: January - March 2021
On the customs front, the focus of the Union Budget 2021 was on promoting 'Make in India' and taking measures to facilitate trade. In the Budget speech, the Finance Minister mentioned that the thrust is now on easy access of raw materials and exports of value-added products from India.
In Budget 2021, the tax rates under customs have been rationalised per different sectors, including electronic and mobile phone; iron and steel; textile; and chemicals and renewable energy. Further, the Government has proposed some legislative changes to enhance trade facilitation and promote 'Make In India'.
Issue 3: July – September 2020
In this issue, we will share a few important topics like Carotar 2020, FAQs on manufacturing and other operations in Customs Bonded Warehouse (CBW), Other changes in Customs and FTP 2015–2020, Step towards digitalisation of compliance plus procedures under customs and FTP, News on levy of ADD and News on levy of Safeguard duty.
Issue 2: April – June 2020
The COVID-19 outbreak posed unprecedented challenges for every country, and has adversely affected global trade and business. It has brought global business to a halt and the times ahead will be challenging for every nation. The pandemic has presented fresh challenges for the Indian economy too. To deal with the impact of COVID-19, the central government took a slew of trade facilitation measures to minimise its impact on business and overcome disruption in international supply chain. Some major measures taken by the government are mentioned in the Thoughtware.
Issue 1: January – March 2020
The focus of Union Budget 2020 was, amongst other things, on increasing ease of doing business and ensuring level playing field for domestic industry. With a focus to boost domestic manufacturing and entice large investments in mobile phones, electronic equipment, and semiconductor packaging, a detailed scheme will be announced.
Further, Finance Minister also mentioned that customs duty exemptions will be comprehensively reviewed by the government by September 2020. Customs law and procedures will also be reviewed for their alignment with needs of changing times and ease-of-doing business.