Ex-bond Shipping Bill (SB) is now available on ICES 1.5 for export of warehoused goods from a bonded warehouse.
Now, items imported under more than one into-bond Bill of Entry (BE) can be exported under on Ex-bond Shipping Bill (SB)
Circular no. 22/2023- Customs dated 19.09.2023
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The 50% tariff imposed by the US on India could be significantly eased, and the additional 25% tariff imposed by Trump on Russian oil purchases could be lifted.
Trade wars unleashed by US President Donald Trump’s tariffs policy can offer a big opportunity to India to boost its manufacturing as Trump appears to be primarily targeting China. The US paused reciprocal tariffs on India and over 75 other countries, while imposing steep 145% duties on Chinese exports, though the Trump administration has now excluded smartphones, computers and related electronics from its proposed reciprocal tariffs.
The trade winds have shifted sharply. US President Donald Trump’s decision to double tariffs on Indian exports from 25% to 50%, effective 27 August, has introduced a complex challenge for India’s economy.
