In this connection, issue regarding recovery of export benefits given under incentive and reward schemes under Chapter 3 of Foreign Trade Policy (FTP) on re-import of exported goods has been highlighted by C&AG of India.
Central Board of Indirect Taxes and Customs has now started capturing district-wise data or origin of export goods. The idea was also recently echoed by the Hon’ble Finance Minister in her Budget speech. This additional information from the export declarations will provide a key statistical input to policy makers on the importance of each district for exports and will help in aligning the policies to enhance local capacity.
International Tax Bulletin Foreign Tax & Tax Research Division JANUARY 2020 VOL.1, ISSUE 1 LATEST DEVELOPMENTS ON TAXATION OF DIGITALISED ECONOMY In the last week of January 2020, the meeting of G20/OECD Inclusive Framework (IF) was held in Paris to decide the future course of action for finalising the time lines and action plan for […]
ORDERS SUPREME COURT Duncans Industries Ltd. Vs. A. J. Agrochem [Civil Appeal No. 5120/2019] The AA rejected an application under section 9 on the ground that the provisions of the Code are not applicable unless the OC seeks consent of the Central Government, in view of section 16G(1)(c) of the Tea Act, 1953, which provides […]
Nodal Officer Vs GST Council (Gujarat High Court) While in the case on hand, this Court has not declared the said Rule 117 of the CGST Rules, 2017 neither this Court has ordered the respondents to carry forward CENVAT credit beyond the time limit, but in the case on hand, the respondents herein had tried […]
Notification No. 14/2020 – Customs regarding exemption of duties of Customs against scrips issued under the 2% Additional ad hoc incentive for mobile phones. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 14/2020-Customs New Delhi, the 14th February, 2020 G.S.R. 120(E).- In exercise of the powers conferred by sub-section (1) of section […]
Tariff Notification No. 13/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 13/2020-Customs (N.T.) New Delhi, 14th February, 2020 S.O. 719(E).– In exercise of the […]
Notification No. 13/2020-Customs regarding exemption of duties of Customs against scrips issued under the RoSCTL scheme and additional ad-hoc incentive for apparel and made-ups sector GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 13/2020-Customs New Delhi, the 14th February, 2020 G.S.R. 119(E).– In exercise of the powers conferred by sub-section (1) of […]
Nola Ram Dulichand Dal Mills Vs Union of India & Ors. (Supreme Court of India) The appellant challenged the change in the Policy ‘Vishesh Krishi Upaj Yojna‘ wherein 100% export units were denied the benefit of exemption on the ground that the policy binds the respondents for a period of five years and that such […]
Notification No. 02/2020 – Central Excise regarding exemption of duties of Central Excise against scrips issued under the 2% Additional ad hoc incentive for mobile phones
