Donald Trump must be a very disappointed man these days. Having imposed sweeping tariffs (he is still busy doing this) with self-proclaimed lofty objectives, he is still scanning the horizon to see what his revolutionary economic reforms have done to his country or to the world in general. He, like always, took up the issue …
The NCLT is directed to initiate the Liquidation proceedings against the Corporate Debtor-BPSL under Chapter III of the IBC and in accordance with law”. With these words, a Bench consisting of J. Bela S Trivedi and J. Satish Chandra Sharma of the Supreme Court of India threw an already approved resolution process as per the …
Trade Agreements in the Global Context In an era marked by shifting global trade dynamics and a resurgence of protectionist policies—exemplified by the reciprocal tariffs recently imposed by the United States—free trade agreements (FTAs) stand out as instruments of mutual growth and economic diplomacy. FTAs offer a structured and legally binding platform for countries to …
The Directorate General of Foreign Trade (DGFT) has issued Notification No. 11/2025-26 dated 26th May 2025, announcing the restoration of RoDTEP (Remission of Duties and Taxes on Exported Products) benefits for: Advance Authorisation (AA) holders Special Economic Zones (SEZs) Export-Oriented Units (EOUs) These benefits will be applicable to eligible exports with effect from 01.06.2025. 🔹 Key …
Resumption of RoDTEP Benefits for AA, SEZ & EOU Exports – Effective from 01.06.2025 Read More »
The recent killing of tourists in cold blood at Pehelgaon in Kashmir has left ordinary people like me stunned looking at the sheer savagery involved. To kill an unarmed civilian in front of his near and dear is simply revolting whatever be the provocation. It is simply barbaric. The recent attack is a horrifying reminder …
The Concept of Infallibilism: The illusion of certainty, something that Donald Trump, the President of the United States seem to believe in, has come to define him and his presidency. Before we proceed further let me take you through a short etymological tour. The word “fallible” means capable of making mistakes – or, easier to …
New Section 194T has been inserted in the Income Tax Act, 1961, which states that certain payments made by a Firm to its partners shall be liable for TDS deduction @ 10% w.e.f 1st April, 2025. Provisions reproduced below: “Payments to partners of firms. 194T. (1) Any person, being a firm, responsible for paying any …
Fareed Zakaria, the renowned political commentator on world affairs, talked about the preoccupation of Donald Trump on the role of the manufacturing sector in the US economy. Trump is hell-bent on revitalising (according to him) this sector in the US as part of his broader economic agenda. Fareed has some key points on this topic …
Vicissitudes of Human Behaviour: Consider an individual who is given two choices – a guaranteed sum of ₹500 or a 50% chance to win ₹1,000. You are likely to choose ₹500 due to what is known as loss aversion – favouring certainty over potential risk. The example demonstrates how reference points and loss aversion shape …
Micro, Small, and Medium Enterprises (MSMEs) are a crucial part of India’s economy, significantly contributing to employment, innovation, and exports. Recognizing the evolving business landscape, the Government of India has updated the MSME classification criteria, effective April 1, 2025. This article explores the objectives behind this change, outlines the new classification, highlights key benefits, details …
The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme was introduced by the Government of India to replace the earlier Merchandise Exports from India Scheme (MEIS). The RoDTEP scheme came into effect on January 1, 2021. Introduction of this scheme was also a response to a ruling by the World Trade Organization (WTO) …
As the Financial Year 2024-25 draws to a close, businesses must fulfill their critical GST compliance obligations. The key tasks are outlined below: Letter of Undertaking (LUT): Apply/Renew for Letter of Undertaking (LUT) for FY 2025-26 on GSTN Portal (required for Exports and SEZ Supplies without payment of GST) Quarterly Return Monthly Payment (QRMP) Scheme …
Here is a case involving an important legal issue as regards mortgages in India. We have different kinds of mortgages prevalent in India – simple mortgages, equitable mortgages, registered mortgages, et al, with ever so subtle differences amongst them. For a layperson the differences between these types of legal documents can be quite challenging. Here …
Introduction: Imagine walking into your favourite electronics store, only to find that your preferred smartphone has suddenly doubled in price. The culprit? Tariffs, an often-misunderstood element of international trade that wields the power to reshape economies, industries, and even our daily lives. But what exactly are tariffs, and how do they influence the intricate dance …
Background The Indian Customs system has been undergoing continuous transformation to enhance ease of doing business and facilitate smoother trade across borders. In line with the government’s vision to digitize all remaining Customs processes by mid-2026, the Central Board of Indirect Taxes & Customs (CBIC) has now introduced an automated system for processing refund applications. …
Starting October 1, 2024, the GST portal will implement the Invoice Management System (IMS), a significant step towards enhancing tax compliance and streamlining invoice reconciliation. While currently optional, it is evident that the government envisions IMS as a mandatory compliance tool in the near future. Necessary legal changes have already been introduced to ensure a …
Introduction The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, introduced a critical amendment to the Customs Act, 1962, with the insertion of Section 18A. This provision is a much-awaited reform that provides importers and exporters with the ability to voluntarily revise their bills of entry or shipping bills post-clearance. Historically, businesses faced considerable …
Just recently in last November I was at Prayag Raj taking a dubki in the holy waters at Sangam at Prayagraj where the Ganga, Yamuna and the mythical Saraswati rivers meet – one of the holiest places as per Hindu mythology. It was part of a small family pilgrimage outing. If you are brought up …
Prologue: Just as I was about to start on this article, I chanced upon and leafed through the latest issue of “Frontline” magazine (3rd February 25) by sheer accident. There I saw the all too familiar photograph of Dr Manmohan Sigh accompanying an article “Manmohan Sigh: The Heterodox Economist”. That piece had been penned by …
Bizsolindia is inviting you to the webinar on “Decoding Union Budget 2025-26” Date : 1st Feb 2025 Time : @4:30 pm to 6:30 pm click here for Registration
