A merchanting trade transaction is a trade where an Indian entity buys goods from a seller in one foreign country and sells them to a buyer in another foreign country, with the goods shipping directly between those two countries and never entering India's Domestic Tariff Area. The Indian
OPGSP stands for Online Payment Gateway Service Provider, the arrangement that let Indian exporters and importers collect and send small cross-border payments through an intermediary tied to a bank, rather than through their own wire transfer. It was never a licence. An OPGSP held no authorisation from the Reserve
This week’s trade landscape is dominated by heightening geopolitical tensions in the West and significant domestic policy shifts aimed at digitizing MSME global outreach. From potential tariff wars to new financial support missions, Indian exporters must navigate a complex mix of rising logistics costs and improved regulatory frameworks. 1.
A high sea sale is the sale of imported goods while they are still in transit, after the shipment has left the foreign port and before it is cleared for home consumption in India. Ownership passes by endorsing the bill of lading to the new buyer, who then becomes the
TCS on foreign remittance is an advance tax your bank collects when you send money abroad under the Liberalised Remittance Scheme. It is not a fee and not an extra tax, it sits against your PAN and comes back to you when you file your return. It applies only above
Form A2 is the application-cum-declaration you sign before your bank sells you foreign exchange and wires it abroad. It tells the Authorised Dealer who is paying, who is being paid, how much, and the part that decides everything downstream - why. It is issued under the Foreign Exchange Management
This week marks a significant shift in India’s fiscal landscape as the government prepares to overhaul tax laws to favor long-term industrial growth. The proposed 2026 Bill introduces sweeping changes designed to secure India’s position in the global supply chain and attract massive foreign investment. 1. Extended
In India, importers must comply with various customs procedures before their goods can be cleared. One of the most important documents in this process is the Bill of Entry (BOE). After filing a BOE, importers often ask: How do I check my Bill of Entry status online? The ICEGATE portal
This week marks a transformative period for Indian trade, characterized by the activation of major free trade agreements alongside new regulatory hurdles in the North American market. For procurement managers and SME leaders, these developments necessitate a dual focus on emerging market access and rising logistics costs. 1. Historic India-
Shipping Bill Status is the real-time customs clearance progress of your export shipment than can be tracked through ICEGATE (Indian Customs Electronic Gateway) . After your CHA files a Shipping Bill (export declaration) with Indian Customs, the SB (Shipping Bill) status shows whether your goods are approved, under processing, cleared
Trade dynamics in the Indian agricultural sector are shifting as rising input costs and climate stressors impact the supply of essential protein-rich commodities. This week's roundup highlights the growing pressure on food imports and the challenges facing domestic livestock and poultry exporters. 1. Escalating Animal Feed Costs
IEC stands for Importer-Exporter Code, Before 2017 it used to be a 10-digit unique identification number but after introduction of GST in 2017 the Importer-Exporter Code for firms in India became the same as their PAN (Permanent Account Number), though you still need to apply it via