TP - Mere dissatisfaction with factual findings of ITAT regarding selection of comparables after application of quantitative/qualitative filters cannot be contested u/s 260A: HC (See 'TOG Latest')I-T - Assessee is eligible to claim exemption u/s 54 where possession of flat held by him since date of allotment is handed over & capital gain is paid on transfer of property 'held': ITAT (See 'TOG Latest')Customs - Classification of imported goods cannot be decided based on internet search results when Department could have obtained expert opinion or technical write-up: CESTAT (See 'TOG Latest')Central Excise - Demands cannot be raised under rent-a-cab service where Department is unable to prove that vehicle was capital goods of assessee & was registered in its name: CESTAT (See 'TOG Latest')ISA - India to host first general conclave (See 'TOG News')New convention & expo centre to reflect economic progress: Modi (See 'TOG News')TP - When agreement between two resident companies does not provide for any markup on total cost then no addition is permitted by applying margin of international transactions: ITAT (See 'TOG Latest')I-T - If interest income does has no direct link with eligible business or business activity then it can be considered for deduction claimed u/s 80IB & 80IC: ITAT (See 'TOG Latest')Central Excise - Cenvat credit be availed on supplementary invoices rasing demand for 'royalty charges' & 'stowing excise duty', 'paryavaran upkar', 'vikas upkar', 'forest fee' & 'Entry tax': CESTAT (See 'TOG Latest')Service Tax - Extended period of limitation cannot be invoked where issue of taxability of commission received from banks was contested during period of dispute: CESTAT (See 'TOG Latest')Govt launches Swachhata Hi Seva campaign to promote cleanliness (See 'TOG News')Govt launches Swachhata Hi Seva campaign to promote cleanliness (See 'TOG News')Delhi Govt inks pact with Seoul for better infrastructure & public health (See 'TOG News')Govt launches star rating based on efficient energy use (See 'TOG News')DTAA - Tax Residency Certificate constitutes sufficient evidence for accepting status of residence as well as beneficial ownership for seeking treaty benefits: ITAT (See 'TOG Latest')I-T - Pre-deposit of duty demanded from cooperative institution can be waived off considering that its members come from marginal sections of society: ITAT (See 'TOG Latest')Customs - Duty exemption under Notfn No 46/2006-Cus can be denied where entire quantity of imported goods were not used to manufacture final product: CESTAT (See 'TOG Latest')Central Excise - Cenvat credit cannot be allowed on Outdoor Catering service which is utilized for personal use by employees & has no nexus with manufacture of final product: CESTAT (See 'TOG Latest')
Tax on Go
Budget 2015
Click the banner to download Documents
HOME       GST     INDIRECT TAX     INCOME TAX     DTAA     TP     MIXED BAG     LIBRARY    

TOG NEWS

During January 2018, Indian exports rise by 1.95% in INR value
By TOG News Service
Feb 15, 2018

 TOG News Service, NEW DELHI, FEB 15, 2018: IN a positive note for trade & commerce in India, the exports for the month of January 2018, registered a growth of 9.07% in terms of US Dollars, in comparison with January 2017. It may be noted that exports have been on a positive trajectory since August 2016 to January 2018, with only a dip of 1.1% in October 2017. In terms of US Dollars, Indian exports for January 2018 value at USD 24383.97 million, in comparison to the exports worth USD 22356.32 million as of January 2017. In terms of Indian Rupee, the value of the exports for January 2018 is Rs 155172.00 crores, compared to Rs 152202.70 crores during January 2017. Thereby, even in Indian INR, there has been a 1.95% rise in export value.       

During January 2018, the major commodities whose export showed a positive growth and the corresponding hike in export value, were engineering goods (15.77%), Petroleum products (39.5%), Gems & Jewellery (0.89%), organic & inorganic chemicals (33.6%) and drugs & pharmaceuticals (8.6%). The cumulative value of exports for the period April-January 2017-18 was USD 247896.55 million (Rs1596591.91 crores) as against US $221823.46 million (Rs1490544.21 crores). This registered a positive growth of 11.75% in Dollar terms and 7.11% in Rupee terms over the same period last year.

Non-petroleum and Non Gems & Jewellery exports in January 2018 were valued at US$ 17523.24 million as against US$ 16607.36 million in January 2017, an increase of 5.51%. Non-petroleum and Non Gems and Jewellery exports during April-January 2017-18 were valued at US$ 181238.18 million as compared to US$ 161281.88 million for the corresponding period in 2016-17, an increase of 12.37%. Further, with regard to export of services, exports during December 2017 were valued at US$ 16,005 million (Rs. 102819.83 Crores) registering a positive growth of 3.98% in Dollar terms as compared to positive growth of 8.76% during November 2017.