Page 54 - ELT_1st June 2020_VOL 372_Part 5th

A178 EXCISE LAW TIMES [ Vol. 372

Exporters had complained of orders getting cancelled or postponed, and
the subsequent delay in realisation of bills. The RBI allowed an increase in the
period of realisation and repatriation of export proceeds from nine months to 15
months. This will be valid from the date of export for shipments sent out till July
31, 2020.
For inbound shipments that arrive till the same date, importers will now
get six more months to complete outward remittances. Currently, importers get
six months to send remittances. The new facility, however, will not be available
for import of gold, diamonds and precious stones or jewellery. The RBI has also
suggested that the government reassess import duties for various items, especial-
ly pulses.
[Source : Business Standard, New Delhi, dated 23-5-2020]

India resumes palm oil import from Malaysia as ties thaw
Indian buyers have resumed purchases of Malaysian palm oil after a
four-month gap following a diplomatic row, with buying spurred by a fall in
domestic inventories and discounted prices, trade sources said.
The renewed purchases come amid improving trade relations between
the two countries after the formation of a new government in Kuala Lumpur,
with Malaysia signing a deal last week to buy a record 1,00,000 tonnes of Indian
rice.
Leading Indian importers last week contracted up to 2,00,000 tonnes of
Crude Palm Oil (CPO) from Malaysia, the World’s No. 2 producer after Indone-
sia, to be shipped in June and July, the sources said.
“Port stocks have dropped sharply in India because of lower imports,”
said a Singapore-based trader who sells Malaysian and Indonesian palm oil.
A restart to buying by India, the World’s biggest edible oil importer,
could further support Malaysian palm oil prices, which have edged up from 10-
month lows in recent days.
India early this year restricted imports of Malaysian palm oil after then
Prime Minister Mahathir Mohamad criticised policies by New Delhi affecting the
country’s Muslim minority.
[Source : Times of India, New Delhi, dated 20-5-2020]

In 21 States, info panels didn’t hold any RTI hearing :
Report
Even as the Central Information Commission (CIC) has been carrying
out hearings using modes like video-conferencing during the lockdown, it turns
out that as many as 21 Information Commissions out of a total of 29, were not
holding any hearings related to Right to Information applications as of May 15.
These 21 States include the State Information Commissions of Assam,
Andhra Pradesh, Bihar, Goa, Gujarat, Himachal Pradesh, Jharkhand, Karnataka,
Kerala, Madhya Pradesh, Maharashtra, Meghalaya, Mizoram, Nagaland, Odisha,
Sikkim, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhand and West Bengal.
The findings are part of a report brought out by Satark Nagrik Sangathan

EXCISE LAW TIMES  1st June 2020  54