In order to ensure smooth transition to the GST regime, Government has allowed the extant Duty Drawback scheme to continue for a period of three months i.e. from 1.7.2017 to 30.9.2017.
Under the GST regime, goods upon import shall be subject to integrated tax and compensation cess in terms of Sections 3(7) and 3(9) respectively of the CTA, 1975. Further, in terms of Section 3(12) of the CTA, 1975, the provisions of the Customs Act, 1962 and rules and regulations made thereunder relating inter alia to drawback shall apply to integrated tax and compensation cess Accordingly, drawback under Section 74 would include refund of integrated tax and compensation cess along with basic customs duty, etc.
The following LLPs in Table A (List of 81 Nos. LLPs) have not been carrying on any business or operation for a period of two immediately preceding financial years.
The purpose of this guidance note is to bring clarity about the impact of GST,which would come into force with effect from 01.07.2017, for importers and exporters.
Seek to reduce the rate of Central Tax, Union Territory Tax, on fertilisers from 6% to 2.5% and Integrated Tax rate on fertilisers from 12% to 5%
After demonetisation, country is going to face another challenge in the form of GST. Tax-payers as well as general public is in haphazard position. States of India and government offices are facing problems in respect of the working of GST.
Steel Authority of India Ltd. (SAIL) is readying itself for a smooth transition into the new tax regime, which will come into effect with the introduction of GST from July 01, 2017. The Company, besides appointment of reputed Consultant for overseeing the transition, has also formed special teams for coordination with its pan India based plants, units, marketing offices and other units for migrating to GST regime.
Seeks to impose ADD on the imports of Pentaerythritol originating in or exported from China PR for a period of five years vide Notification No. 32 /2017-Customs (ADD)
Kindly follow the following process if your Coop Empanelment Application is rejected either at DDR or at Commissioner office level or both. The Application should be on simple paper addressed to Divisional Joint Registrar where your District falls .The web link for the address and contact details of DDR and Div. Joint Registrar is as under:
An export product accompanied with tax invoice and forming part of project export (including turnkey export or supplies) for which no figure is shown in columns (5) and (7) in the said Schedule, shall be so declared by the exporter and the maximum amount of drawback that can be availed under the said Schedule shall not exceed amount calculated by applying ad-valorem rate of drawback shown in column (4) or column (6) to one and half times the tax invoice value.
