Page 30 - Chemexcil NEWS August - September 2017 for web
P. 30
According to the statement, the participants According to the statement, the steps taken for
in Monday's meeting shared views on various development of transit and transport through
measures and steps to promote transit and trade Chahbahar port in Iran involving India, Afghanistan
and realising reliable and robust connectivity, and Iran, the proposedTurkmenistan-Afghanistan-
with Afghanistan as the hub. Pakistan-India (TAPI) gas pipeline project, and
the CASA-1000 (Central Asia-South Asia power
"This included the recognition of the need to make project) were appreciated.
the existing transit and trade agreements more
inclusive and comprehensive by expanding them The TAT (Turkmenistan-Afghanistan-Tajikistan)
both northwards and southwards to connect South railway line and the Lapis Lazuli corridor were
Asia with Central Asia; strengthening growth also assessed positively.
of small and medium enterprises (SMEs) and
involvement of women in economic development, The Lapis Lazuli corridor connects Afghanistan
including through women entrepreneurship; and with Turkmenistan, Azerbaijan, Georgia to the
simplifying customs procedures," it said. Black Sea and ultimately through Turkey to the
Mediterranean Sea and Europe.
The initiative by India to develop a web portal,
with participation of industry body Ficci, for "All sides agreed on the value of such connectivity
exchanging information on regional markets, and economic integration projects to overall
trade and investment opportunities, and growth, stability and prosperity in Afghanistan,"
facilitating networking between businesses the statement said.
for the participating countries also came in for
appreciation. (Source:- http://www.business-standard.com/article/news-
ians/establishment-of-india-afghanistan-air-freight-corridor-
hailed-117080701244_1.html dated 7th August-2017)
7. IGST EXEMPTION: SMALL EXPORTERS FACE UNCERTAINTY
NEW DELHI, AUGUST 9: line prescribed for acceptance of bond/LUT, and
so accountability cannot be enforced when there
Small exporters continue to face problems in is a delay,” pointed out Ajay Sahai of exporters’
securing exemption from paying Integrated body FIEO.
Goods & Services Tax (IGST) on their shipments
as Customs officials use their discretion to decide Contrary to an earlier communication from the
which exporter needs to furnish bank guarantees - Central Board of Excise and Customs, the GST
instead of only a bond - in the absence of detailed Commissioner has to be satisfied about the track
guidelines on the matter. record of the exporter before granting exemption
from IGST payment without a bank guarantee,
Althought the Commerce Ministry is in discussions pointed out TS Bhasin, President, Engineering
with the GST Council on the matter to see if the Export Promotion Council. “This discretion-based
issue can be resolved through broad guidelines system is not advisable,” he said.
to check the discretionary powers of Customs
officials, exporters are unhappy with the piece- Commerce Ministry officials are trying to sort out
meal redressal. the problem. “The problems of status holders and
other large exporters have largely been sorted
“Problems should be addressed at one go. On out, with the Centre deciding to accept Letters of
bank guarantees and bonds, the government has Undertaking (LUTs) instead of bank guarantees.
issued at least four instructions and things are still We are in talks with the GST Council to see if
not smooth. Exporters don’t even know the time-
August-September-2017 28
