India to appeal against WTO panel on export incentives

India will appeal against the ruling of WTO’s dispute settlement panel, which held that domestic export incentive schemes are inconsistent with global trade norms, an official said. The ruling has stated that India should not provide subsidies based on export performance. “India will be appealing the decision of the panel regarding the four schemes to the Appellate Body of the WTO,” the official said. Continue Reading

Commerce Ministry working on new payment methods

The commerce ministry is working on a proposal to allow domestic companies to make payments in the rupee currency for services obtained from special economic zone units, sources said. Continue Reading

CBIC favours extending fiscal incentives based on job creation, investments

The Central Board of Indirect Taxes and Customs (CBIC) has favoured extending incentives based on parameters like job creation and committed investments across the country, sources said. Continue Reading