A new Section 108A and 108B inserted which cast responsibility on Banking Company, Stock Exchange, Financial Institution, Register, Co Operative Bank etc to Furnish information to Proper Officer. Penalty Rs 100 per day will be imposed in case of failure to Furnish Information.
Attention of all officers and concerned staff is invited to the Board’s Circular No. 12/2017- Customs dated 31.03.2017 and Public Notice No. 66/2017 dated 26.05.2017 of JNCH, regarding legislative changes relating to the Customs Act, 1962 proposed in the Finance Bill, 2017 issued vide Board Circular No. 12/2017 –Customs dated 31.03.2017.
The Current Indirect tax regime is quite complex. Central and State Governments levy a large number of taxes such as Central Excise duty, Service Tax, VAT, Purchase Tax, Central Sales Tax, Entry Tax, Local Body Taxes, Octroi, Luxury Tax, etc.
Goods and Service Tax has become operational from 01-07-2017. In the UST regime, the governing provisions related to exports are contained in section 16 of the Integrated Goods and Service Tax Act, 2017 (IGST Act). Supplies of goods and services for exports have been categorized as
G.S.R.—- (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of
G.S.R.—- (E)- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of
G.S.R. (E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of
G.S.R. (E). –In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description as specified in column (3) of the Table below, as
G.S.R. (E).- WHEREAS the Central Government on being satisfied that the import duty leviable on articles and parts thereof, of goods, falling under headings 8443 and 8517 respectively of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), should be increased and that circumstances exist which render it necessary to take immediate action.
