GSTIN registration from Jun 1–15, India imposes anti-dumping duty on steel & more weekly insights from Portexcel 

GSTIN registration from Jun 1–15, India imposes anti-dumping duty on steel & more weekly insights from Portexcel 

A maritime news and analysis weekly, to help you make informed decisions in the weeks ahead. Over 1000 senior executives and officials from the Export, Import, Trading House and Manufacturing industries benefit from the insights provided by portexcel.com

What is happening this week?

India Market watch

Portexcel would like to inform all importers and exporters about the below mentioned important changes as per ICEGATE.

  • Declaration of valid GSTIN in customs documents (BE/SB) would be mandatory w.e.f. 0000 hrs of 01–07–2017, the likely implementation date of GST, to avail IGST credit on Imports or GST refund on exports. The declared GSTIN would be validated for correct IEC/ PAN linkage. Accordingly, during GSTIN registration, please ensure declaration of correct IEC and the same PAN [earlier registered with DGFT for getting IEC]. A case of any difference in PAN declared for GSTIN vis-à-vis the PAN declared for IEC registration, amendment of PAN in IEC may be undertaken immediately. All concerned should make use of the special drive by GSTIN from 01–06–2017 to 15–06–2017 for updating of IEC in GSTIN.
  • Existing & new registered users whose digital signature has expired, please go through the setup documentwhile updating your new digital signature and follow all the necessary steps mentioned.
  • All RES users are directed to use the same Digital Signature Certificate given at the time of taking new registration with ICEGATE, to file documents and to avoid rejection of documents due to Digital Signature mismatch.
  • Users who have not re-registered themselves at New ICEGATE Registration Application, will not be able to submit documents/jobs at ICEGATE. No acknowledgement will be generated for documents filed either by web upload or SMTP. You are requested to re-register yourself immediately on ICEGATE New Registrationapplication for avoiding any problem.

Container Freight Rates Pulse

  • The government sets $45 billion textiles exports target for FY18. The government has set a target of $45 billion exports from the country’s textile and garment sector in 2017–18. The country’s overall textiles and garments exports during 2015–16 stood at $40 billion, mainly because of less demand in major markets such as the US, EU and China, and stiff competition it faced from countries like Vietnam and Bangladesh, which enjoy an edge over India.
  • India imposes anti-dumping duty on 47 steel products for 5 years. India imposed retroactive anti-dumping duties on some steel products of foreign firms including POSCO and Nippon Steel & Sumitomo Metal Corp, the latest in a series of protectionist measures that have already drawn international complaints. The duties on hot-rolled flat products of alloy or non-alloy steel, originating in or exported from China, Japan, Korea, Russia, Brazil and Indonesia has been made effective for five years.

Container Shipping Sailing

  • Maersk Line launches enhanced MESAWA service for West and South African cargo and new PROTEA service for South Africa Maersk Line, the global containerized division of the Maersk Group has announced two services 1. The enhanced MESAWA Service with direct call into Tema to cover West and South Africa market and 2. The PROTEA service, a new direct service to cover India to South Africa and Indian Ocean Islands. The first call from Mundra and Nhava Sheva will commence from 29th of May 2017.
  • India’s 1st container ship docks in Chabahar (IRNA). It’s a part of INSTC operation. An Indian cargo ship with 300 containers of goods, including rice, docked in Shahid Kalantari pier in the port of Chabahar and started unloading its shipments. Director General for Sistan-Baluchestan Department of Ports and Maritime Behrouz Aqaei told IRNA that Iranian and foreign businessmen may send their goods directly from India to Iran and vice versa and load-unload them in Chabahar.He added that exchanging goods directly from India to Chabahar will save $750 for each 40-feet container.

Infrastructure Roundup

    • Government nod for 2.5 percent of road fund for National Waterways. To boost inland water transport, the government has approved an allocation of 2.5 per cent of the Central Road Fund for National Waterways (NWs) that would result in about Rs 2,000 crore proceeds per annum for their development. The Central Road Fund (Amendment) Bill, 2017 would be moved by the Ministry of Road Transport and Highways in the ensuing monsoon session of Parliament.
    • China port congestion continues to roil global supply chains. Congestion at Chinese ports, primarily in Shanghai, surfaced in April and continues to this day with many liners rescheduling port calls to other terminals in the region. Other ports in China that have been hit by ships backing up include Ningbo and Qingdao.

Global Market Buzz

  • On-demand container shipping.Digitalization will eventually mean that ocean transport of containers will be organized in a much more efficient manner. While the container has no doubt revolutionised the world of ocean freight, it is interesting to note that the business model of liner shipping really is a legacy system. Basically the previous system of fixed sailing frequencies was continued from the days of the passenger and freight steamers, harking back to the days of the British Empire. The next stage of the container revolution will change this too.
  • HHLA Invests in Automated Guided Vehicles. Hamburger Hafen und Logistik AG (HHLA) has invested in automating the Container Terminal Altenwerder (CTA) in Germany by ordering 25 Konecranes Gottwald Automated Guided Vehicles (AGVs) with lithium-ion (Li-ion) battery drives.The order was booked in the first quarter of 2017 and machines are scheduled to be delivered in spring 2018 together with six fully automated quick chargers.

 

Leave a comment