On account of COVID 19, Indian Government is trying to provide relieves / measures to address the confusion / unrest in the industry. In continuation of our earlier email for extension of validity of policy and other parameters addressed by Commerce Ministry, we would also like to provide a brief of some of the important […]
Referring to our News Update in relation to measures under discussion with Commerce Ministry on account of COVID-19 pandemic, Director General of Foreign Trade has issued various Notifications, Trade Notices and Public Notices to address relief / extension of validity of various schemes and applicability of Foreign Trade Policy beyond 31 March 2020. Please find […]
As we all are aware that MEIS benefit has been withdrawn for item under Chapter 61, 62 and 63 of ITC HS 2017 for exports made with effect from 7 March 2019.
The Director General of Foreign Trade has issued 2 trade notices providing clarification in relation to mis-classification of goods under ‘Others’ category at the time of import. We have encapsulated both the trade notices for your quick reference. Trade Notice No. 46/2019-20 dated 17 January 2020 It has come to the notice of departmental authorities […]
As we all are aware that several cases of monetisation of credit fraudulently obtained or ineligible credit through refund of Integrated Goods & Service Tax (IGST) on exports of goods have been detected in past few months. On verification, several such exporters were found to be non-existent in a number of cases. In all these […]
Similarly, for exports to Nepal under South Asian Free Trade Area (SAFTA) and SAARC Preferential Trading Arrangement (SAPTA), the Preferential Certificate of Origin shall be applied and issued only from this platform with effect from 18th December 2019.
As we all are aware, Central and State Governments have shown their interest in closing pending cases under erstwhile regime on introduction of GST. As a part of this endeavor, Gujarat Government issued a VAT / CST amnesty scheme on 11 Sept 2019 to be effective from 15 Sept 2019. However,on receipt of various representations […]
Director General of Foreign Trade (DGFT) has recently issued a Public Notice (PN) No. 47/2015-2020 dated 07 December 2019 in relation to change in MEIS rate. It has been notified that, except products listed in Annexure to this Public Notice, Additional 2% MEIS (as provided in PN No. 44 dated 05 Dec 2017, PN No. […]
The Director General of Foreign Trade (DGFT) has recently issued a Trade Notice No. 39/2019-20 dated 19 November 2019 to highlight Incorrect Data in certain IECs (Import Export Code number). Please find below synopsis of Trade notice for your reference: On analysis of the DGFT IEC database, it has been observed that there are certain data mismatch issues […]
Central Board of Indirect Taxes and Customs (CBIC) has recently issued Notification Notification 69/2019-Customs (N.T.) dated 01 October 2019. Please find below brief of the update for your reference. This notification has been issued to issue new regulation namely “Manufacture and Other Operations in Warehouse (no. 2) Regulations, 2019“. This amendment has been notified with an intent to harmonize the operational aspect of warehouses. This revision shall […]
