Trichy Airport opens dedicated terminal for import cargo
Sneha Gilada The Trichy International Airport now has a new import cargo processing unit, spread over 150 square metres, catering to three different operations of storage, examination and delivery. The new establishment meant to deal exclusively with imported cargo dispatched in foreign aircraft, is in close proximity to the export freight terminal, with a ramp connecting the two. This development also brings to light the disparity between the amount of import and export cargo handled by the airport. Reportedly, throughout FY2016-17, only 50 tonnes of imports were handled at this airport while the amount of export cargo went beyond 6,900 tonnes, bringing the total annual cargo to 6965 tonnes. The monthly averages also confirm the story, as imports round up to about 4 tonnes while exports clock over 500 tonnes every month. According to an official at the cargo complex, ...
India imposes anti-dumping duty on Iran, Qatar and China for chemical dumping
The Dollar Business Bureau India has imposed anti-dumping duty ranging between $23.78 to $300.22 on the imports of Linear Alkyl Benzene (LAB) from China, Qatar and Iran. LAB is majorly used in the preparation of various detergents. A notice to the effect was issued by the DGAD via Customs notification no.12/2017-CUSTOMS dated April 11, 2017, to protect the domestic players from the cheap dumping of the shipments. Two Indian companies, Nirma Ltd and Tamilnadu Petroproducts had jointly filed an application on 7th December, 2015 to the DGAD to investigate the cheap dumping of the chemical by various companies of Qatar, China and Iran. There are two other major Indian players in the market, the Reliance group and the Indian Oil Corporation. India ...
States service sector to generate less revenue after GST rolls out
The Dollar Business Bureau Ruling out the earlier predictions that the states’ service sector will generate more revenue after the Goods and Service Tax (GST) is rolled out, Gulati Institute of Finance and Taxation (GIFT) said this could be a wild dream to chase. According to GIFT associate professor Jose Sebastian, the study undertaken by states highlight that states were responsible for only 1.30% of central service tax collection in 2012-13. The state’s service sector is dominated by small-scale businessmen, who fall below the proposed GST threshold of Rs.10 lakh. "What matters is not the size of the service sector per se, but the presence of taxable services and the size of service providers," Sebastian said while presenting his research paper at the ...
