The Government of India intends to achieve USD 1 trillion export of goods by the year 2030. It also aims that India be recognised as a Developed Nation by 2047.
With this objective in mind, the GOI has concluded several new free trade agreements while negotiations are ongoing with few developed countries such as the EU, UK, and EFTA countries.
From the domestic front, the new GST regime has helped remove internal barriers to trade, unified the indirect taxes, and removed the cascading effect of taxes, thus bringing down manufacturing costs.
But these opportunities have brought with them several regulatory challenges. These challenges include certain issues in GST regime not solved so far, the EU’s carbon tax on imports of iron, steel, aluminium, and other products; sanctions by the EU, United States, and the UK on Russia affecting international trade in in particular diamonds and iron and steel; pressure for transparency and sustainability of supply chains; and responsible and green manufacturing. Environmental, Social and Governance (ESG) principles also now govern international trade.
With the objective of sensitising the Indian industry on these new challenges and identifying the best strategies for overcoming them, analysing the issues under GST concerning exports, Institute of Business Laws (IBL) is organizing a one-day seminar with Lakshmikumaran & Sridharan (LKS) as the knowledge partner. The seminar will feature discussions on:
- GST recent updates - Provisions/case law,
- Challenges in refund of ITC/IGST on exports,
- Sending trade samples or goods for testing outside India, etc.
- Issues under various export facilitation schemes
- Utilising free trade agreements for procurement and exports
- Supply chain due diligence and ESG principles,
- Complying with carbon tax, and
- Overcoming non-tariff barriers.
The panel of speakers will be led by:
- T Viswanathan, Principal Partner, LKS
- Anand Nainawati, Executive Partner, LKS
- Jigar Shah, Partner, LKS
- Manish Jain, Associate Partner, LKS
- Priyanka Kalwani, Associate Partner, LKS