"18 November 2022" Archive

All about Direct Port Delivery (DPD)

CBIC has taken various steps which have had the impact of reducing the dwell time as well as bringing down the logistics cost of EXIM clearances. One of the flagship initiatives in this regard has been the Direct Port Delivery (DPD). DPD is an innovative scheme, introduced at JNCH and replicated at other CFS-based ports […]...

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Posted Under: Custom Duty |

Export Through E-Sealing and Direct Port Entry

Facilitating Exports Through Electronic Sealing and Direct Port Delivery CBIC has undertaken various measures for enhancing export facilitation by simplifying the procedure and creating trust-based environment by dispensing the need for exporters seeking the presence of jurisdictional officer. The key steps includes: (a) Self-sealing usin...

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Posted Under: Custom Duty |

All about e-Sanchit under SWIFT

e-Sanchit was launched under SWIFT (Single Window Interface for Facilitating Trade) to introduce paperless processing. e-SANCHIT is an integral part of SWIFT. e-SANCHIT means e-storage and computerized handling of indirect tax documents. It allows the trader to upload all supporting documents digitally for obtaining clearances. This elimi...

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Posted Under: Custom Duty |

All about Electronic Cargo Tracking System of Customs

India has been working towards improving coordinated border management. Its open trade policies play a key role in sustaining the country’s development....

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Posted Under: Custom Duty |

Facilitating Jewellery Exports through e-Commerce

Introduction: (a) Implementation of a simplified regulatory framework to facilitate export of jewellery through e-Commerce was announced in the Budget for the year 2022. (b) Accordingly, vide Circular No. 09/2022-Customs dated 30.06.2022, CBIC has laid down a simplified procedure for e-Commerce exports of jewellery via International Couri...

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Posted Under: Custom Duty |

Govt withdrawn AIDC exemption on Anthracite, PCI Coal & Coking Coal

Notification No. 60/2022-Customs [G.S.R. 829(E)] 18/11/2022

CBIC amends Notification 11/2021-Customs, dated the 1st February, 2021 in order to withdraw AIDC exemption on Anthracite , PCI Coal and Coking Coal vide Notification No. 60/2022-Customs Dated: 18th November, 2022. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 60/2022-Customs Dated: 18th November, 2022 G.S.R. 829(E...

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Govt withdrawn BCD exemption on Anthracite and PCI Coal, Coke & Semi coke & ferronickel

Notification No. 59/2022-Customs [G.S.R. 828(E)] 18/11/2022

CBIC amends Notification No. 50/2017-Customs, dated the 30th June, 2017 in order to withdraw BCD exemption on Anthracite and PCI Coal, Coke & Semi coke and ferronickel vide Notification No. 59/2022-Customs Dated: the 18th November, 2022. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 59/2022-Customs Dated: 18th...

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Govt withdrawn export duty on iron ore & steel products

Notification No. 58/2022-Customs, [G.S.R. 827(E).] 18/11/2022

CBIC amends Notification No. 27/2011- Customs, dated the 1st March, 2011 in order to withdraw export duty on iron ore & steel products vide vide Notification No. 58/2022-Customs Dated: the 18th November, 2022. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 58/2022-Customs | Dated: the 18th November, 2022 G.S.R....

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Customs Post Clearance Audit (PCA)

Customs Post Clearance Audit (PCA) is an initiative based on global best practices. It is aimed at creating an environment of increased compliance while allowing the Department the flexibility to enhance the facilitation for importers and exporters. The objective of Central Board of Indirect Taxes & Customs (CBIC) is to ensure collect...

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Posted Under: Custom Duty |

Assessee needs to establish genuineness of the expenditure

Green Twig Estate Management Pvt. Ltd. Vs ITO (ITAT Mumbai)

ITAT Mumbai held that onus is on the assessee to establish that the specified expenditure incurred was wholly and exclusively for the purpose of the business, disallowance of expenditure justified in absence of such establishment....

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