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exim-pedia · 5 months ago
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The Global Dynamics of Aluminium Scrap Imports: Insights, Trends, and Key Players
Aluminium scrap plays a crucial role in the production and recycling industries, providing significant environmental benefits by reducing the need for new raw materials and lowering carbon emissions. This article delves into the global dynamics of aluminium scrap imports, highlighting key trends, major players, and the economic and environmental impacts of this vital resource.
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Aluminium Scrap Import Trends in India
In 2024, India imported 135,816 metric tonnes of aluminium scrap in April, showing a slight increase from the previous month’s 128,861 metric tonnes but a decrease from the 141,894 metric tonnes imported in April 2023. This trend underscores India’s position as a major player in the global aluminium scrap market.
In 2023, India was the world’s top importer of aluminium scrap, with 506,864 shipments. Over 3,453 Indian importers sourced aluminium scrap from 14,928 suppliers worldwide, reflecting a robust and growing market.
Global Aluminium Scrap Market
Several countries dominate the global aluminium scrap market. China, India, and the United States are among the top importers, with India surpassing other major economies in recent years. China, the second-largest importer, brought in $2,030.01 billion worth of aluminium scrap in 2021.
Economic and Environmental Impact
Recycling aluminium scrap is environmentally beneficial, significantly reducing CO2 emissions and conserving energy. For instance, recycling aluminium scrap produces only 0.3 million metric tonnes of CO2 per tonne, compared to 14 tonnes of CO2 per tonne produced through traditional methods. Economically, the demand for aluminium scrap is driven by strong market dynamics and price trends, with the Asia Pacific region being the largest producer and consumer.
Challenges and Opportunities
The aluminium scrap market faces several challenges, including import duties and regional conflicts that disrupt supply chains. However, there are opportunities for growth, such as policy changes proposed by industry associations like MRAI, which advocate for the removal of import duties to support sustainability.
Aluminium Scrap HSN Codes
Understanding the correct HSN codes is essential for importers. For aluminium scrap, the primary HSN codes are:
7602: Aluminium waste and scrap
760200: Detailed categories of aluminium waste and scrap
Industry Insights and Future Outlook
The global aluminium market is projected to grow, with an expected value of USD 255.91 billion by 2029. Industry experts suggest that advancements in recycling technology and supportive policies will drive this growth, especially in regions like Asia Pacific, North America, and Europe.
Resources for Importers
Importers can access real-time aluminium scrap import data through platforms like Eximpedia, which provide comprehensive databases and market reports. New importers are encouraged to utilize these resources to stay informed and competitive.
Conclusion
Aluminium scrap imports are vital to the global aluminium industry, contributing to economic growth and environmental sustainability. By staying informed about market trends, policy changes, and technological advancements, traders can navigate the challenges and seize opportunities in this dynamic market. For further information, platforms like Eximpedia offer valuable insights and data to help importers succeed.
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irpportalnews · 1 year ago
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Crossed the e-invoicing turnover limit? Here are 5 things to do next!
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E-Invoicing Turnover Limit is the base criteria on the basis of which a company falls under the E-Invoice Mandate. Recently, the government has further reduced the e-invoicing turnover limit covering companies with Annual Aggregate Turnover of Rs. 5 Cr. and above.
As per the GST notification 10/2023, from August 1, 2023 companies having AATO of Rs 5 Cr and above need to register their B2B invoices and other specific documents on IRP and get Invoice Registration Number in return. This is an attempt to accommodate MSMEs under e-invoicing and streamline the process while bringing in transparency and reducing tax evasion. 
This article will help you to know if you have crossed the e-invoicing turnover limit and if you have recently crossed or are about to cross the e-invoicing threshold limit, then what are the next steps you need to carry from here on…
What is the turnover limit for e-invoicing?
Introduced in a phased manner, e-invoice under GST is based on the Aggregate Annual Turnover (AATO) of companies and businesses in India.
The first phase addressed companies with a turnover of over INR 500 crores. This went live from 1st October 2020. The next was for the ones that turned a revenue over of more than INR 100 crores. This went live from 1st January 2021. The third phase, which went live in April 2021, was for the companies with a revenue of over INR 50 crores. Earlier this year, the fourth phase, launched in April 2022, was effective for companies that have turnover over INR 20 crores. Finally, the fifth phase was for companies with a turnover of over INR 10 crores going live from 1st October 2022.
Steps to take after your business crosses the e-invoice turnover limit
1. Familiarize your Accounts Department with E-invoicing
Prior to the e-invoice applicability, all your B2B and B2C invoices may have had a similar common format that is followed by Indian businesses across the country with the required data fields. However, after crossing the e-invoicing turnover limit, you cannot carry out generating invoices in your usual manner. There is a standard procedure that needs to be followed. There are rules regarding the data fields and most importantly the IRN (Invoice Reference Number) and QR Code.
So, the first step will be to familiarize your accounts department with the e-invoicing mandate, its rules and regulations, about e-invoice printing, data fields etc. The change is massive and thus, a dynamic implementation will be made possible by having a thorough understanding of the e-invoice issuance, e-way bill production, and GST return filing processes.
2. Register yourself on the Invoice Registration Portal
Once your business crosses the e-invoicing threshold, you will automatically get enabled on the official GSTN portal. After the enablement, you need to register yourself on an IRP (Invoice Registration Portal) like IRIS IRP.
Note: In some cases, your business may not get automatically enabled on the official GSTN website. In that case, you need to create an account and enable yourself on the GSTN portal if your business falls under the e-invoicing threshold.
3. Verify and Prepare your Systems
Now that you have registered yourself on the invoice registration portal, it is also super important to check if your accounting and billing systems are ready for e-invoicing under GST. Before sending your invoice data to the IRP, you need to check if all the data is correct in order to avoid errors.
So, make sure your tax rates, HSN code etc. are updated in your systems. All the mandatory e-invoice data fields should be filled appropriately. Another major activity is that you will have to have a separate set-up for your B2B and B2C invoices. This is because e-invoicing is applicable to only B2B and export invoices so you must segregate your B2B and B2C invoices in your billing systems so as to avoid confusion.
Read This Full Article at e-invoice turnover limit
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indonesiatradesdata · 3 years ago
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Seair Exim Solutions is one of the best sources for the exporters and importers to know how to find HSN code using the HSN Code Search. Over 98 % of world trade is classified in terms of the HSN code and around 200 countries search HSN codes.
Visit us : HSN Code Search
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madurapost · 3 years ago
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Belasan Lomba Semarakkan HSN 2021, PC NU Sumenep Gelar Festival Keagamaan
Belasan Lomba Semarakkan HSN 2021, PC NU Sumenep Gelar Festival Keagamaan
SUMENEP, MaduraPost – Peringati Hari Santri Nasional (HSN) 2021 yang ke-6, Pengurus Cabang Nahdlatul Ulama (PC NU) Kabupaten Sumenep, Madura, Jawa Timur, gelar puluhan festival keagamaan dengan tema ‘Bertumbuh Berdaya dan Berkarya’. Jumat (1/10/2021) sore. Pada kesempatan itu, pembukaan semarak HSN 2021 kali dibuka dengan khatmil quran, dan Grand Opening HSN 2021 yang ditandai dengan pelepasan…
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peachymetimmy · 3 years ago
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I love you for infinity ♥️
Credit by @timotheelilchalamet via TikTok
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wally-b-feed · 3 years ago
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anthony fineran (b 1981), natto source hsn, 2021
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infosriwijaya · 3 years ago
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Gelaran Kegiatan Puncak Peringatan Hari Santri 2021 Pecahkan Rekor Dunia
Gelaran Kegiatan Puncak Peringatan Hari Santri 2021 Pecahkan Rekor Dunia
Puncak peringatan Hari Santri ke 6 2021 memecahkan rekor MURI kategori ‘Peringatan Hari Besar Keagamaan dengan Siaran Langsung Media Terbanyak’. Rekor tersebut adalah buah dari upaya tanpa lelah yang dilakukan RMI PBNU (Rabithah Ma’had Islamiyah Pengurus Besar Nahdlatul Ulama) dalam menggelar Hari Santri Nasional (HSN) 2021. Antusiasme seluruh santri di Indonesia dalam mengikuti siaran langsung…
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applesinspace · 3 years ago
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vausemania · 3 years ago
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Laura Prepon Celebration on HSN ! (July 23, 2021)
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exportimportd · 4 years ago
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Export and Import Data Bank — Search Traders in The world
In terms of performing trading business, India does not lack any opportunities due to its location. Almost more than 25 countries are involved in trading activities with India. Export and Import Data bank is such a source which is being utilized to keep every bit of information regarding the various exports and imports being performed with India.
The information found here is very confidential as it is related to the movement of goods and services. This article thus hereby brings a great chance for the traders who have an interest in the Indian market of trading with lots of information. Keep reading to get every form of information that is related to Indian Trade Data.
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Import and Export Data mainly involves the details of shipping done between the countries, their product details, quantity, HSN code, and value in both currencies and many more. Other than these, you also get the opportunity to know about the major commodities with which India deals in respect to export and import trading.
In November 2020, India’s merchandise imports had been USD 33.39 billion. This showed Import Data India in the value by 13.33% when compared to November 2019 (USD 38.52 billion). In November 2020, India had become a net importer that had a trade deficit of USD 9.96 billion. In the last year, India has exported products that were worth 323.1 billion dollars. And the products imported were worth 507.6 billion dollars.
According to Indian Export Import Data, the major commodities that are involved in imports include:
· Mineral fuels and oil
· Plastic articles and plastics
· Precious metals and gems
· Vegetable and animal fats
· Inorganic chemicals
On the other side, the commodities that are involved in exports include:
· Electrical machinery
· Iron & steel
· Organic chemicals
· Cotton
· Clothing
The group of commodities that had recorded positive growth during the period of March 2020 in merchandise includes other cereals of 326.44%, oil meals of 230.4%, iron ore of 194.89%, electronic goods of 91.98%, and many more.
Whereas the commodities that brought negative growth were oil seeds of -6.45% and cashew of -1.99%. In imports, the commodities that showed negative growth in the year 2021 in merchandise were fertilizers, crude & manufactures, transport equipment, silver, pulses, and project goods. The major trading partners that India has to include China at the top with making exports of around INR 125,427.25 crores INR, and imports of INR 386,671.82 Crores. These Export Import Data of India thus provides a range of information that can be helpful to business organizations while analyzing the trading market of India.
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cittagiardinoproject · 4 years ago
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IMVU Free Credits 2021 - ebook
How To Get Free Credits On IMVU Fast 2021
OFFICIAL WEB WITH CREDITS
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https://www.sec.gov/finhub
https://ncd.gov/publications/2011/Oct042011
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casansaar · 2 years ago
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HSN Wise Summary Reporting in GSTR-9 for F.Y. 2021-2022. HSN SUMMARY - Mandatory or Optional? (4Digit Code or 6 Digit Code) TABLE 17 & 18 of GSTR-9 for F.Y. 2021-22.
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southtrust · 2 years ago
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Amazon kindle fire bundle
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#Amazon kindle fire bundle for free
#Amazon kindle fire bundle portable
#Amazon kindle fire bundle for free
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madurapost · 3 years ago
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HSN 2021, Bupati Sumenep : Santri Tidak Pernah Lelah Berkarya
HSN 2021, Bupati Sumenep : Santri Tidak Pernah Lelah Berkarya
SUMENEP, MaduraPost – Bupati Kabupaten Sumenep, Madura, Jawa Timur, pimpin apel Peringatan Hari Santri Nasional (HSN) 2021. Acara tersebut berlangsung di Pondok Pesantren (Ponpes) Aqidah Usymuni Terate Pandian. Jumat (22/10/202) pagi. Diketahui, peringatan HSN tahun ini mengangkat tema ‘Santri Siaga, Jiwa Raga’. Tema tersebut menjadi pernyataan tegas santri agar selalu siap siaga menyerahkan jiwa…
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peachymetimmy · 3 years ago
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ILYSM ♥️
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quang-cao-truc-tuyen-24h · 2 years ago
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Top 6 máy hút mùi zegu zh 76gi mới nhất năm 2022
Top 6 máy hút mùi zegu zh 76gi mới nhất năm 2022
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