The Advance Authorisation Scheme, governed by the Foreign Trade Policy (FTP) 2023 , is a vital export promotion tool. It allows duty-free import of inputs that are physically incorporated in export products. But at the heart of this scheme lies a critical process known as norms fixation — a mechanism that determines the quantity of […]
The Ministry of Electronics & IT has officially launched the Electronics Component Manufacturing Scheme (ECMS) — a transformative policy aimed at building a self-reliant and globally competitive electronics manufacturing ecosystem in India. 🔹 Total outlay of ₹22,919 crore🔹 Focus on Sub-assemblies, Bare & Selected Components, and Capital Equipment🔹 Structured incentives: Turnover-linked, Capex, and Hybrid models🔹 […]
The Reserve Bank of India (RBI) has recently announced a significant amendment to the Master Directions on Compounding of Contraventions under FEMA, 1999. This amendment, issued via circular on April 22, 2025, provides relief to businesses and individuals by capping the maximum penalty amount at INR 2,00,000 for specific types of FEMA contraventions. This move […]
The Ministry of Finance, has officially notified the Goods and Services Tax (GST) Appellate Tribunal (Procedure) Rules, 2025, marking a significant milestone in India’s indirect tax (‘GST’). These new rules aim to streamline the operations of the Tribunal, ensuring faster adjudication of disputes under the GST regime. The said rule is divided into 15 chapters, encompassing […]
Introduction to MOOWR Scheme The MOOWR Scheme (Manufacture and Other Operations in Warehouse Regulations, 2019) is a game-changing initiative by the Government of India under the Customs Act, 1962. This scheme allows manufacturers to import goods without upfront payment of customs duty, enabling duty deferment and increased liquidity—a boon for companies looking to improve their […]
The Authorised Economic Operator (AEO) certification is a flagship initiative under the World Customs Organization (WCO) SAFE Framework of Standards, adopted by India under its Customs Modernization Programme. The scheme, implemented by the Central Board of Indirect Taxes and Customs (CBIC), seeks to enhance international supply chain security and facilitate legitimate trade. Statutory Framework The […]
Introduction With globalization redefining business boundaries, Overseas Investments by Indian entities and individuals have witnessed a steady rise. Whether it’s setting up a wholly owned subsidiary abroad or acquiring shares in a foreign company, such cross-border transactions are governed under the Foreign Exchange Management Act, 1999 (FEMA). This blog demystifies the Overseas Investment (OI) regulations […]
The Indian Cabinet has approved a ₹23,000 crore PLI scheme to boost electronics component manufacturing. The Indian government has taken a massive leap towards strengthening its ‘Make in India’ initiative. In a major policy push, the Union Cabinet has approved a ₹22,990 crore Production Linked Incentive (PLI) scheme for electronics component manufacturing, aiming to reduce […]
INTRODUCTION In a landmark move to modernize India’s customs regime, the Union Budget 2025 has proposed the introduction of Section 18A into the Customs Act, 1962 (‘the Act’). This amendment introduces a structured mechanism enabling importers and exporters to voluntarily rectify errors in their Bill of Entry or Shipping Bill even after goods have cleared […]
The solar industry received a significant legal reprieve after the Delhi High Court quashed the Instruction No.13/2022-Customs, issued on July 09, 2022. This judicial intervention has substantial implications for the import and warehousing of solar panels and related equipment under the Manufacture and Other Operations in Warehouse (No.2) Regulations, 2019 (MOOWR). Background of the Case: […]