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A108 EXCISE LAW TIMES [ Vol. 372

cation, and electronic transmission of PDF-based first copy of Bill of Entry (BoE)
to Customs brokers and registered importers, it said.
“Turant” is an ongoing exercise of the C.B.I. & C. to expedite its systems
and processes. It was introduced in February last year as a next generation re-
form to push up India’s position in the World Bank’s Ease of Doing Business
(EODB) Index.
[Source : Hindustan Times, New Delhi, dated 15-4-2020]

No penalty on EXIM cargo by Shipping Cos : DGS
The Directorate General of Shipping (DCS) on 22-4-2020 issued direc-
tions not to impose any penalty or demurrage on EXIM cargo by shipping com-
panies, in view of the extended lockdown till May 3. In order to maintain a prop-
er supply chain at Indian seaports, shipping companies or Carriers are advised
not to charge, levy or recover such charges between 22nd March, 2020 to
14th April, 2020, the DCS had said.
[Source : The Economic Times, New Delhi, dated 23-4-2020]

MEIS Export Incentives till December, 31 : Commerce
Ministry
The Commerce Ministry has clarified that export incentives under Mer-
chandise Export Incentive Scheme (MEIS) will be available to exporters only up
to December 31 this year. The Government after approving a new scheme -
Remission of Duties and Taxes on Export Products (RoDTEP) - in March this
year has stated that MEIS will be phased out after rolling out of this new scheme.
Under MEIS, the Government provides duty benefits. Rewards under the scheme
are payable as percentage of realised free-on-board value and MEIS duty credit
scrip can be transferred or used for payment of a number of duties including the
basic Customs duty.
[Source : The Economic Times, New Delhi, dated 17-4-2020]

Exports dive 35%, biggest monthly drop since 1991
India’s exports witnessed the steepest monthly decline since at least eco-
nomic liberalisation in 1991, slumping almost 35% in March as the Coronavirus
Pandemic took a toll on global trade.
Latest data released by the Commerce Department on 15-4-2020 estimat-
ed exports at $ 21.4 billion in March, a decline of 34.6%. It eclipsed the 34.1%
crash seen in May 2009, which was the biggest monthly collapse since April,
1991. Imports too fell 28.7% to $ 31.2 billion, indicating that there was a severe
demand contraction, as 29 of the 30 major categories, barring transport equip-
ment, saw lower value of shipments into the country.
Of the $ 12.5-billion decrease in March, a large chunk was on account of
oil imports, which fell 15% to $ 10 billion, partly due to lower quantities coming
into India and a fall in the price of crude due to the lockdown in several parts of
the world. Pearls, precious & semi-precious stones, electronic goods, machinery
and chemicals reported a sharp decline too. On the export front too, 29 of the 30
product categories witnessed a contraction — with iron ore being the sole excep-
tion. Engineering goods were the biggest loser, as shipments fell 42% from $ 9.4
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