DGFT’s GST facilitation cell details, Customs pre-run of GST on June 23 & more weekly insights
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What is happening this week?
India Market watch
- DGFT has constituted a GST facilitation cell in DGFT head office. The GST facilitation cell comprises of two officers — Mr Rakesh Kumar, Joint DGFT (email: email@example.com), Mr Kaushlendra Pratap Singh, Deputy DGFT (email: Kaushlendrap.firstname.lastname@example.org). Exporters can email their queries concerning GST and pertaining to Foreign Trade Policy.
Shipwaves advises all exporters to contact directly DGFT office and seek clarification regarding GST.
- Govt. has announced relaxation in return filing procedure for first two months of GST implementation. For the first two months of GST implementation, the tax would be payable based on a simple return (Form GSTR-3B) containing summary of outward and inward supplies which will be submitted before 20th of the succeeding month. Please check the notification for more details.
- Customs is set for a pre-run of GST on June 23. CBEC will soon notify the new procedural framework for the trade sector.
Shipwaves advises all exporters to do the trial with your CHA to avoid any issues after 1st July.
Container Freight Rates Pulse
- The ministry of shipping is in the process of amending the Multimodal Transportation Act of Goods Act 1993. The Act provides for regulation of such transportation from any place in India to one outside India on the basis of a contract. The National Shipping Board has now suggested changes, for bringing transparency into end-to-end logistics regarding sea transport. The amendment would also ensure stevedoring and cargo handling agents do not overcharge clients, a shipping ministry official said. More transparency in the shipping and logistics sectors
- India’s steel exports jumped by 69 percent in May to 0.641 million tonnes (mt) over the same month last year while imports were up by 2.4 per cent, according to steel ministry report.This had happened because of India’s anti-dumping measures and also due to withdrawal of the Minimum Import Price (MIP). The Centre on Friday said it will ensure that steel products are not imported in the guise of utensils or finished products. India export subsidies may have to be phased out soon
Container Shipping Sailing
- CMA CGM launches INDIAMED, a new service linking the East Mediterranean with Djibouti, Arabian Gulf, Pakistan and India from 2nd July.Rotation will be: Khor Fakkan — Karachi — Nhava Sheva — Mundra — Djibouti — Jeddah — Damietta — Piraeus — Malta — Aliaga — Mersin — Port Said West — Khor Fakkan. CMA CGM will operate this service in collaboration with its affiliate APL and its Ocean Alliance partner COSCO. CMA CGM launches INDIAMED Service
- QATAR INDIA Express Service. A new direct maritime line between the State of Qatar and the Republic of India has been launched.The line is linking between Hamad Port in Qatar and Mundra and Nhava Sheva Ports in India.The vessels of the new line will visit Hamad Port every Friday, and the first shipment will have 710 containers with readiness to receive larger shipments as needed. QATAR INDIA Express Service launched.
Shipping Infrastructure Roundup
- Chennai Port expands speedy import drive. Taking a cue from customs at Jawaharlal Nehru Port Trust, authorities at the Chennai port are driving up import discharges via direct port delivery (DPD) services. The largest east coast public port’s DPD share during April to May increased to 18 percent of its total imports compared with 14.6 percent in the same period last year. By volume, April to May DPD volume reached 26,287 TEU, out of 146,719 TEU of inbound volume, versus 20,422 TEU and 139,389 TEU, respectively. Chennai Port expands speedy import drive
- Jawaharlal Nehru Port Trust (JNPT) and the Maharashtra Maritime Board (MMB), on behalf of the government of Maharashtra, entered into a memorandum of understanding (MoU) to develop a new major port of close to Rs 6,000 crore in Dahanu taluka, off Wadhwan point in Maharashtra.The port would be established as a corporate port under the Companies Act, 2013 on the lines of Kamarajar Port, Ennore. JNPT would have an equity share not exceeding 74% and the Maharashtra government would have an equity share of 26% in the new port company. JNPT and Maharashtra Govt plan for a new port in Maharashtra
Global Market Buzz
- International Maritime Organization gives significant nod towards unmanned and autonomous ships on the high seas.The IMO has agreed to begin a scoping study that could pave the way for autonomous ships on the high seas. The Maritime Safety Committee of the UN body, has reportedly agreed to launch a study to scope out which parts of international regulations would need to be amended to allow for unmanned vessels to sail in international waters. IMO gives nod towards unmanned and autonomous ships on the high seas
- EU Project Speeds Container Checking. Smiths Detection has received a contribution of US$927,852 to develop state-of-the-art technology to scan containers for bombs under an EU-funded R&D project. Smiths Detection’s container scanners will speed up non-intrusive container examination to improve port safety and security. The system under development will quickly find out whether a container holds only its declared legal cargo, and rule out any contraband, weapons, explosives, drugs, or toxic materials. EU Project speeds up on non-intrusive container examination to improve port safety and security.
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