The Government of India has decided to adopt a mechanism wherein the rebate of State levies on garment exports is provided based on a budgetary allocation of the Ministry of Textiles under a scheme in which the Department of Revenue/Central Board of Excise and Customs (CBEC) handles disbursement along with the extant Duty Drawback.
Procedure for Special Advance Authorisation scheme for export of Articles of Apparel and Clothing Accessories under Chapter 61 and 62 of ITC(HS) Classification of Export and Import has been specified to come into effect from 1st September 2016.
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 118/2016-Customs (N.T.) New Delhi, 31st August, 2016 S.O. 2822(E) – In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being […]
Applications for grant of Special Advance Authorisation Scheme for export of Articles of Apparel and Clothing Accessories can be tiled online through DGFT website: http://dgft.gov.in/. Procedure for filing application online for this authorisation is similar to filing of application for the regular Advance Authorisation.
In partial modification to this department’s Circular No. 11 of 2016-17 on the subject cited above and in exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005, I, S.S.Yadav, Commissioner, Value Added Tax, do hereby extend the last date of filing of online/hard copy of first quarter return for the year 2016-17, in Form DVAT-16, DVAT-17 and DVAT-48 along with required annexure/enclosures to 10/09/2016.
Honorable ble Supreme court held that Visveswaraiah Technological University being not wholly or substantially financed by government is not entitled to claim exemption u/s 10(23)(iiiab). Further, the fees collected by the University as per prescribed govt. norms cannot be said to finance provided by govt. Therefore, assistance by govt. by way of loans, grants and subsidies only to be considered as financing from it.
It has been represented to the Board that for calculation of insurance amount and Bond amount under HCCAR, dwell time for clearance of imported goods and transit time for export goods should be taken in to account. It has been brought to the notice of the Board that CCSPs are being asked to give bond and insurance for an amount equal to the average value of goods likely to be stored, in 30 days, in the Customs area based on the projected capacity.
