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Trade mis-invoicing cost India $13 bn in tax revenues in 2016, says report The findings are part of a report by Washington, DC-based think tank Global Financial Integrity Current Affair :-India is assessed to have lost $13 billion potential duty income in 2016, equal to a stunning 5.5 percent of all out government income accumulations in those days, because of basic exchange invoicing. The discoveries, some portion of a report by Washington, DC-based research organization Global Financial Integrity (GFI), are set to stress policymakers who have progressively attempted to get serious about fake assessment rehearses. Exchange misinvoicing includes the two exporters and merchants purposely distorting the esteem, amount, or nature of products or administrations in a business exchange and is treated as a standout amongst the most widely recognized types of expense misrepresentation by the legislature. Of the lost income, around $4 billion was because of conscious misinvoi...

Glycine from India, China hurting US biz, anti-dumping duty to be issued The United States International Trade Commission (USITC) determined that glycine was sold in the US at less than fair value and imports that are subsidised by the governments of China and India. Current Affair :-Import of glycine from India, China and Japan is harming the US business as the item is sold at not exactly reasonable incentive in America, a government exchange body has guaranteed. The United States International Trade Commission (USITC) said it had decided the US business was physically harmed by imports of glycine from India and Japan. It additionally verified that glycine was sold in the US at not exactly reasonable esteem and imports that are sponsored by the administrations of China and India. Because of the USITC’s positive judgments, US Department of Commerce will issue antidumping obligation arranges on imports of this item from India and Japan and countervailing obligation arra...