Jasmine Gladstone

Under a counterpurchase arrangement, the exporter sells goods or services to an importer and agrees to also purchase other goods from the importer within a specified period. Unlike bartering, exporters entering into a counterpurchase arrangement must use a trading firm to sell the goods they purchase and will not use the goods themselves.

Offset

In an offset arrangement, the seller assists in marketing products manufactured by the buying country or allows part of the exported product's assembly to be carried out by manufacturers in the buying country. This practice is common in aerospace, defense and certain infrastructure industries. Offsetting is also more common for larger, more expensive items. An offset arrangement may also be referred to as industrial participation or industrial cooperation.

The need for SAD refunds arose mainly on account of the fact that traders or dealers of imported goods were unable to take credit of this duty (which was a Central tax) while discharging their VAT or Sales tax liability (which was State levy) on subsequent sale of the goods. Unless corrected through a mechanism such as refund (of one of the taxes) this would have resulted in “double” payment of tax. With the introduction of GST on 01.07.2017, credit of “eligible duties” in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock, is permissible to registered persons not liable to be registered under the existing law (for instance, VAT dealers) under transitional provisions (Section 140(3) of the CGST Act). Further, eligible duties as defined in sub-section (10) include SAD. In other words, dealers/ traders can take ITC of SAD paid on goods imported prior to 1st July 2017. Sub-section (5) of section 140 also allows a registered person to take credit of eligible duties in respect of inputs received on or after 1 July 2017 but the duty on which has been paid under the existing law. These provisions taken together ensure that SAD paid by dealers/ traders can be set-off against their GST liability as and when imported goods are supplied by them in the domestic market. However, certain items which are out of the GST net would be eligible for SAD refunds as earlier.

If we are speaking about the import market regulations then, Hong Kong has a 0% tariff on most goods, except for a few items such as beer, alcohol, tobacco, petroleum, and methanol. Import bans and control of permits done for items in the fields of health, security, environmental protection, and compliance with international obligations. Customs procedures are relatively simple, facilitating trade. Hong Kong is also a member of the WTO and APEC.

The Certificate of Origin (CO) is not a mandatory export document, required only for transactions that require customs formalities from the importing country or to satisfy the buyer’s request.

The export of machines and high-tech products has impacted Japan’s economic growth since 1960. The main export groups in Japan include:

Cars of all kinds
Gearboxes and parts, accessories of automobiles
The electronic circuit of video recording equipment
Boats transporting goods
Printers and copiers of all kinds
Optical equipment, measuring machines
Chemicals, organic chemicals, additives
Rubber and rubber products used in cars
Phones and phone parts and components
Steels
The main export markets of Japan: Are the United States, China, South Korea, Taiwan, China, European Union countries.

Export merchandising is a method of offering retail goods for sale in a foreign consumer market. Many large companies across the country maintain entire divisions devoted to finding ways to better enter foreign retail markets through export merchandising to increase profit and sustain growth. Thanks to the internet, small businesses can get in on the act as well without the need of establishing an international supply chain and foreign retail locations.