Import/Export Industry Notifications

CBIC is drawing up plans for the systematic evacuation of cargo. They might set up a special team under an ADC or JC and take port authorities help to evacuate cargo post lockdown. The transportation of goods will move towards near normalcy.

Click Here To See The Official Notification

The Shipping Minister, Mansukh Mandaviya has responded to the complaints received from the EXIM trade. He has warned the shipping Lines very strictly to comply with the government’s directives. The shipping lines and companies will face consequences if they do not waive off various charges due to delay in clearing containers.

Click Here To See The Official Notification

The income tax department has delayed the GST and GAAR reporting due to the COVID-19 situation. Firms must include details of GST and GAAR in their tax audit report. Business entities with turnover of over Rs 1 crore and professionals with receipts of more than Rs 50 lakhs will comply with the tax audit requirements. The due date is September 30.

Click Here To See The Official Notification

Chattogram Port Authority announced to waive the store rent fully for import containers brought in by BGMEA and BKMEA members. It will be done so on a condition that they take their cargoes by May 4. Following a request from the BGMEA and getting approval from the GOI the rent will be waived off for a limited time.

Click Here To See The Official Notification

Central Government of India has urged the West Bengal government to facilitate smooth movement of goods to Bangladesh during COVID-19-induced lockdown period. Dhaka is important to New Delhi's "South Asia first" policy and for movement of goods to northeastern India using Bangladesh as transit.

Click Here To See The Official Notification

ASEAN Reporting will be running live updates about the outbreak and widespread of the COVID-19 pandemic. These country-wise updates will provide the latest and relevant regional news to keep businesses involved in ASEAN and Asia.

Click here for the official notification

The impact of the COVID-19 hits the Oil and Gas industry hard in the UK. Oil & Gas UK is calling for the government’s support for a Covid-19 resilience package. They will be pressing the case to protect the supply chain, jobs and reposition themselves in the coming days. The sector is also set to play a key role in achieving a low carbon future for the UK.

Click here for the official notification

Warehouses are getting so full of goods that the retailers are asking shipping companies to push back deliveries. Shipments have probably fallen about 15% so far this year due to the COVID-19 pandemic. It is said to fall by 30% in the coming few months. The slump is a setback for shipping giants while forward bookings from Asia to North America and Europe have slowed for April and into May.

Click here for the official notification

The companies are adapting to a global economy beset with weak demand and widespread uncertainty in the wake of the COVID-19 outbreak. The creaking supply chains in many companies across several countries are beginning to adjust to new patterns of demand and securing new supply routes for resources slowly.

Click here for the official notification