StatutesOthers
  • the Central Board of Indirect Taxes and Customs, on being satisfied that it is necessary and expedie...nt to do so, hereby makes the following further amendments to the Notification No.19/2022-Customs (N.T.) dated the 30th March, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (ii) vide S.O. 1512 (E), dated the 30th March, 2022, namely, - In the said notification, in para 2, for the words, '1st December, 2023', the words '20th January, 2024' shall be substituted. show more

    Nov 29, 2023
  • The Central Board of Indirect Taxes and Customs, on being satisfied that it is necessary and expedie...nt to do so, hereby makes the following amendments to the notification No.18/2023-Customs (N.T.) dated the 30th March, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (ii) vide S.O. 1528 (E), dated the 30th March, 2023, namely, - In the said notification, in para 2, for the words, '30th November, 2023', the words '19th January, 2024' shall be substituted. show more

    Nov 29, 2023
  •   Central Government amends in the notification of the Government of India in the Ministry o...f Finance (Department of Revenue), No. 04/2022-Central Excise, dated the 30th June, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 492 (E), dated the 30th June, 2022, namely:- In the said notification, in the Table, against S. No. 2, for the entry in column (4), the entry “Rs.1 per litre” shall be substituted which increases Special Additional Excise Duty on the export of the Diesel and ATF.   show more

    Nov 15, 2023
  • The undersigned is directed to draw attention to Circular 41/2020-Customs through which the facility... of Automatic Let Export Order (auto LEO) was enabled in Express Cargo Clearance System (ECCS) for those Courier Shipping Bills (CSB) which were not interdicted by the risk management system (RMS) and were then cleared in the Customs X-ray scanning process It has been decided that the auto LEO facility shall also be allowed upon X-ray clearance to CSB marked for 'assessment only', provided that the CSB has been cleared under assessment and examination has not been mandated. The Systems Directorate has confirmed the enabling of appropriate technical changes in the ECCS export workflow. show more

    Aug 02, 2023
  • According to the announcement from the Ministry of Finance chose to raise the import tax that i...s applicable to liquefied propane and liquefied butane as listed in the First Schedule of the Customs Tariff Act of 1975 (CTH 2711 12 00 and CTH 2711 13 00, respectively). The change consists of adding an additional rate of 15% in place of the existing entry in column (4) next to tariff articles 2711 12 00 and 2711 13 00. The change takes effect right away, therefore the 15% import tax rate increase on liquefied propane and butane shall be in force as of the notice date, which is July 1st, 2023. show more

    Jul 01, 2023
  • According to the announcement from the Ministry of Finance chose to raise the import tax that i...s applicable to liquefied propane and liquefied butane as listed in the First Schedule of the Customs Tariff Act of 1975 (CTH 2711 12 00 and CTH 2711 13 00, respectively). The change consists of adding an additional rate of 15% in place of the existing entry in column (4) next to tariff articles 2711 12 00 and 2711 13 00. The change takes effect right away, therefore the 15% import tax rate increase on liquefied propane and butane shall be in force as of the notice date, which is July 1st, 2023. show more

    Jul 01, 2023
  • The amendment states that in the First Schedule to the said Customs Tariff Act, in Chapter 27, for t...he entry in column (4) occurring against tariff items 2711 19 10, 2711 19 20 and 2711 19 90, the entry “15%” shall be substituted. show more

    Jun 30, 2023
  • As you are aware, sections 7(3) and 9(3)(d) of the Insolvency and Bankruptcy Code, 2016 (Code) manda...tes the creditor to attach with the application the record of default issued by the Information Utility. Further, the Board vide Notification No. IBBI/2022-23/GN/REG085, dated 14th June, 2022 inserted sub-regulation (1A) of the Regulation 20 in Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 to mandate the Information Utility to process the financial information and issue the record of default to the creditor(s) so as to facilitate the creditors to attach the same with their insolvency applications under section 7 or 9 of the Code under section 20(1A) which states the creditor shall file the information of default, with the information utility and the information utility shall process the information for the purpose of issuing record of default in accordance with regulation 21. show more

    Jun 16, 2023
  • The Central Board of Indirect Taxes and Customs hereby makes the following regulations to further am...end the Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010 as Courier Imports and Exports (Electronic Declaration and Processing) (Second Amendment) Regulations, 2023. The purpose is to include the jewelry under CTH 7117 or CTH 7113 in export and for the re-import service. show more

    Jun 15, 2023
  • The CBIC determines that the rate of exchange of conversion of each of the foreign currencies specif...ied in column (2) of each of Schedule I and Schedule II, into Indian currency or vice versa, with effect from 2nd June, 2023, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods. show more

    Jun 01, 2023
  • The Central Government has notified the Foreign Trade Policy, 2023 (FTP) effective from April 01, 20...23 vide Notification No. 01/2023 dated March 31, 2023 and DGFT has issued Public Notices No. 01/2023 dated April 01, 2023 for related Handbook of Procedures (HBP) and No. 10/2023 dated April 26, 2023 for Appendices and ANF. These are available at https://dgft.gov.in. The Customs notifications for purposes of implementation of schemes mentioned in FTP chapters on duty remission/exemption or EPCG schemes that were issued on April 01, 2023 include the Notification Nos. 21 to 24/2023-Customs for Advance Authorization (AA), AA for deemed export, AA for annual requirement, AA for export of prohibited goods, No. 25/2023-Customs for Duty Free Import Authorization, No.26/2023 for EPCG and No. 27/2023 for Special Advance Authorization. Notification Nos. 24 and 25/2023 – Customs (NT) have been issued with respect to Ro DTEP and Ro SCTL schemes, respectively. These notifications are  available at www.cbic.gov.in. show more

    May 24, 2023
  • India's Ministry of Finance has amended the current notification about the Australia Free Trade ...Agreement (FTA) by issuing Notification No. 38/2023-Customs on  May 23, 2023. With this modification, the Finance Act of 2023's tariff preferences for coking coal as well as raw cotton is intended to be changed. The announcement specifies amended entries and prices for certain items and changes Tables II and Table IV of the prior notification. show more

    May 23, 2023
  • The Ministry has issued Notification No.32/2023-Customs dated April 26, 2023 to amend 13 Customs not...ifications pertaining to Advance Authorization (AA) and Export Promotion Capital Goods (EPCG) Schemes. This is to implement the Public Notice No. 02 dated April 01, 2023 notified by DGFT that has provided a procedure, under category of regularization of bona fide defaults, in which all pending cases of the default in meeting export obligation may be regularized by the authorization holder on payment of applicable Customs duty, corresponding to the shortfall in EO. Interest payable is capped at maximum of 100% of such duties exempted on which interest payable as specified in the said Public Notice is dated April 01, 2023. However, no interest is payable on the portion of Additional Customs Duty and Special Additional Customs Duty. The authorization holder choosing to avail this procedure must complete the process of payment on or before September 30, 2023.   The amendments made by the Notification No.32/2023-Customs provide that in a case of default in export obligation, when the duty on the goods is paid to regularize the default in term of Public Notice No. 02/2023 dated April 01, 2023 notified by DGFT, the amount of interest to be paid by the importer shall be payable as specified in the said Public Notice dated April 01, 2023. No other change is involved. show more

    May 17, 2023
  • CBIC amended Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the G...azette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E) which amends tariff values of Gold, Silver, Areca Nuts, brass scraps and edible oils. show more

    May 15, 2023
  • For the fiscal years 2022–2023 and up to June 30th, 2023, the government would let bearers of ...TRQ licences bring in crude oil from soybeans and crude sunflower seed oil at no basic duty and no agriculture infrastructure and development cess. show more

    May 10, 2023

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