Exporters face IGST refund restrictions due to FOB vs CIF valuation differences. Learn how GST law affects tax refunds on export transactions.
CBIC introduces Ekal Anubandh for single electronic bonds, reducing costs and delays for importers/exporters. Learn about its features and benefits.
Learn about recent updates to customs refund procedures, including electronic filing on ICEGATE, improved transparency, and changes to audit processes effective March 2025.
DRISHTI module at JNCH improves monitoring of export proceeds, addressing issues with the RBI-BRC module for efficient recovery of drawback benefits.
CBIC issued Circular No. 09/2023 – Customs, dated 30 March 2023 to clarify on phased implementation of Electronic Cash Ledger (ECL) with effect from 01 April 2023.
Commerce Ministry finally allowed RODTEP benefit to Chemical, Pharma and Steel Sector for the Exports transactions undertaken between 15 December 2022 to 30 September 2023 which was a long pending demand from the industry. The benefit is being expanded to these industry to boost exports will cost around 1000 Crore to the industry. The Scheme […]
Explore the Gujarat VAT Amnesty Scheme 2022 introduced by the Finance Department to settle pending appeals and dues under pre-GST indirect tax laws. Learn about exemptions, eligibility, and key considerations for businesses seeking relief from tax burdens. Read our summary for quick reference.
The original duty scrip holder is required to register the duty credit scrip at the Port of Registration with Customs and the ‘transfer’ of scrips from one IEC to another IEC will be as per the negotiated terms & conditions between the buyer and the seller. DGFT/Customs shall not be responsible for any lapse between the transferor or the transferee (old or new owner of the scrips) or any dispute in this regard.
The Gazette of India released on 29 March 2018 hinted about the soon introduction of Customs Electronic cash ledger similar to GST ledgers. The said amendment was mentioned in The Finance Act, 2018 under ‘Chapter VIIA – Payment through electronic cash ledger’ in the Customs Act, 1962. It was not notified then. In this regard, […]
The existing Foreign Trade Policy 2015-2020 which is valid upto 31.03.2022 is extended upto 30th September, 2022 by DGFT VIDE Notification No. 64/2015-2020 Dated: 31st March, 2022. While we were all eagerly waiting for the release of India’s new Foreign Trade Policy, a Public notice No- 53/2015-20 and a Notification 64/2015-20 got released today, which […]