Finance Ministry Clarifies on Pending GST Refunds Reports, says it’s only Rs 20.77 bn

About 92.68 % (Rs 388.24 bn) of the total IGST refund claims (Rs 418.89 bn) transmitted to Customs from GSTN NEW DELHI: The Finance Ministry has recently clarified that the pending Goods and Services Tax (GST) refunds on account of exports amounted to only Rs 20.77 bn till date. In a statement, the Ministry said,
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South Korea’s SK Holdings Co., the holding entity of the SK Group, plans to sell a majority of its stake in SK Shipping to local private equity firm Hahn & Co. for an estimated $ 1.3 billion, it is learnt. The SK Group is a large family-owned business conglomerate in South Korea. Founded in 1982
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COSCO Shipping Ports (CSP) reported container volumes of 8.7 million TEUs in August 2018, up 12 per cent year-on-year. One of the key reasons was the strong growth at its northern China ports, with box throughput at its terminals in the Bohai Rim region rising 22 per cent to 1.8 million TEUs, reports said. The
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52st Annual General Meeting of Goa Shipyard Limited was held on 17th September, 2018 wherein the Company adopted the Annual Accounts for FY 2017-18. The meeting was attended by members of the Board of Directors, shareholders and other senior functionaries of GSL, says a release. RAdm Mital, Chairman & Managing Director whilst addressing the members,
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At yesterday’s IUMI conference in Cape Town, Chair of the Ocean Hull Committee, Mark Edmondson, highlighted a continuing deterioration of premium income against the more positive picture of an improving risk profile. However, the international market has shown signs of improvement during 2018, although continuing volatility and uncertainty in many sectors remained a concern. “Whilst
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The Shipowners’ Club, the leading P&I insurer in the smaller and specialist vessel sector, has reported financial results for the six months ended 30 June 2018. The Club recorded a 106.4% combined ratio, which was in line with expectations and underlines the Club’s support for its Members. The Club’s investment portfolio saw a loss of
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•             Growth in volumes (+9.6%) and revenue (+7.4%)  •             Core EBIT margin (1.2%) impacted by rising oil prices (+27.7% over a year) •             Supportive market development in the third quarter MARSEILLE: The Board of Directors of the French CMA CGM Group, a Worldwide Container Shipping company, met under the Chairmanship of Mr. Rodolphe Saadé, Chairman
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Skuld today announces a positive result for the first six months of the 2018/19 policy year. Skuld reports a bottom-line result of USD 14 million compared with USD 8 million at the half year in 2017. The result is mainly derived from Skuld’s P&I book of business and a low number of reported claims from
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HAIFA: The container shipping industry is dynamic and volatile and has been marked in recent years by instability, as a result of continued deterioration of market environment. Furthermore, the shipping liner industry went through major developments and structural changes which include reshaping of the alliances and M&A activities that took place over the last quarters.
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Navios Maritime Acquisition Corporation (“Navios Acquisition”) (NYSE: NNA), an owner and operator of tanker vessels, reported its financial results for the second quarter and the six month period ended June 30, 2018. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition, stated, “I am pleased with the results of the second quarter, for which
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