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UK-India $1.4 billion investment deal

The Government of India and British Government recently finalised a one billion pound of trade and investment with India. This is expected to create 6,500 jobs in the UK. The deal has been finalised ahead of the virtual summit between Indian Prime Minister Narendra Modi and the UK Prime Minister Boris Johnson. The leaders will ..

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IGST on Import of Oxygen Concentrators reduced

The Ministry of Finance recently cut the IGST on import of oxygen concentrators for personal use to 12%. Earlier it was 28%. IGST is Integrated Goods and Services Tax. The decision was announced by the Central Board of Indirect taxes and Customs. The changes are being made in accordance to the IGST Act, 2017. Constitutional ..

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Import of 17 medical devices allowed

The Government of India recently allowed import of seventeen medical devices to provide relief to the COVID-19 patients. However, the importer should make mandatory declarations under Legal Metrology Rules, 2011. Which devices were allowed? The Department of Consumer Affairs has allowed the import of the following devices: Nebulizers oxygen concentrators CPAP and BIPAP devices Vacuum ..

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HSN Code: New rules

The Ministry of Finance recently announced that the businesses with annual turn over of more than Rs 5 crores will have to furnish six-digit HSN code on their tax invoices. The businesses with an annual turn over of less than five crores of rupees have to furnish four-digit HSN code. Previously, the requirement was four ..

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What is Green Ammonia?

The Government of India is recently inviting bids for Green Ammonia Projects to reduce the import dependence of the country. As per the Union power and new and renewable energy Ministry, the bids for Green Ammonia projects will be conducted by SECI (Solar Energy Corp. of India Ltd). Why Green Ammonia Projects? To produce fertilisers, ..

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