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Changes in Budget ♠ Changes in Customs tariff ( Rates) -Make in India theme -Reduction in duty on raw materials -Increase in duty on finished goods ♠ Significant Changes in Legislative Changes in Customs Act, 1962 ♠ Changes in Customs tariff Act, 1975 Budgetary Changes Customs Duty Rates Customs Tariff: Notification No. 6/2018-Custo...
Read MoreArticle contains Clause wise Amendments in the Customs Act, 1962 vide Finance (No.2) Bill, 2019 and Other Proposals Involving Changes In Basic Customs Duty Rates, Clarificatory Amendments In Respective Rate Notifications, Effective change in rate of Road and Infrastructure Cess on Petrol and Diesel, Amendment In The Sixth Schedule To F...
Read MoreSection 9 is being amended so as to insert sub-section (1A) to provide for anti-circumvention measure in respect of countervailing duty. (Clause 85). Section 9C is being amended so as to provide that appeal against an order of determination or review regarding the existence, degree and effect of increased volume of imports of any article ...
Read MoreProposed Amendment in the Customs Act, 1962 and Service Tax – Union Budget 2019 The legislative changes would come into effect only upon the enactment of the Finance (No. 2) Bill, 2019. Proposed Amendment in the Customs Act, 1962 Current provisions Proposed provisions Effect Section – 41 (Delivery of departure manifest or export m...
Read MoreIncome Tax Highlights of Budget 2019 1. No change in Income Tax in case of income up to Rs 2 crores. 2. Income Tax return can be filed using either Aadhar Number or PAN No. 3. Surcharge – √ Taxable income from Rs 2 crore to Rs 5 crore- Surcharge has been increased from 15% […]...
Read MoreGovernment of India compulsorily retires 15 Senior Officers of the Indian Revenue Service (C &CE) with immediate effect In exercise of the powers conferred by Clause (j) of Rule 56 of the Fundamental Rules, the President of India has retired 15 officers of Indian Revenue Service (IRS)(C&CE) in public interest with immediate effe...
Read MoreCentral Bureau of Investigation CBI Arrests Preventive Officer of Customs in an On-Going Investigation of A Disproportionate Assets Case, and Recovers Rs.1,18,50,000/- The Central Bureau of Investigation has arrested a Preventive Officer of Customs, Goa in an on-going investigation of disproportionate assets case. His father (private pers...
Read MoreCustoms Brokers’ Examination GUIDELINES FOR THE CANDIDATES (Please refer Regulation 6 of Customs Brokers Licensing Regulations, 2018) A. Admit Card and Mock Test: A dummy Question paper for the purpose of awareness of candidates will be made available on the CBIC and NACIN websites under the icon/tab <GSTP/CBLR Exam>. A link to do...
Read MoreComputer based Examination under Regulation 6 of the Customs Brokers Licensing Regulations, 2018 (As Amended); The Examination to be conducted on 15th March, 2019 at designated Examination Centers across India...
Read MoreRationalization of customs duty and procedures to give boost to ‘Make in India’ initiative RFID technology to be used to improve export logistics The Government has undertaken rationalization of customs duties and procedures to promote the “Make in India” initiative. While presenting the Interim Budget 2019-20 in Parli...
Read MoreSikodh Mahto Vs. State (Delhi High Court) - The Hon'ble High Court of Delhi vide Judgment dated 6th June, 2019 passed in Crl. A. No.660/2017 titled Sikodh Mahto vs. State and in Crl No.698/2017 titled Prabhu Mahto vs. State while quashing the order passed by Ld. Additional Sessions Judge, acquitted the appellants in case involving a...
Read MoreGillette India Ltd. Vs Commissioner of Customs & Ors. (Delhi High Court) - Under Sections 125 read with Section 126 of the Customs Act, 1962 where the redemption fine in lieu of confiscation is not paid within the time stipulated, the Central Government is entitled to retain the excess auction sale proceeds of the confiscated goods, after adjustment of the duty, penalty, i...
Read MoreM/s. Ansar & Co. Vs Commissioner of Customs (Imp-II) (CESTAT Mumbai) - The assessee should have been put to Notice and a reasonable opportunity should have been given for representing their case. While the same was not done, jumping straight way to coercive measures was certainly uncalled for. Therefore, Interest collected being without authority of Law needs to be ref...
Read MoreUnion of India & Ors. Vs Ms. Make My Trip (India) Pvt. Ltd. (Supreme Court) - Union of India & Ors. Vs Ms. Make My Trip (India) Pvt. Ltd. (Supreme Court) The issue is as to whether the power of arrest under Section 91 of the Finance Act, 1994 can be exercised without following the procedure as set out in Section 73A(3) and (4) of the said Act. The High Court […]...
Read MoreCommissioner of Central Excise, Customs & Service Tax Vs M/s Mideast Integrated Steels Ltd. (CESTAT Hyderabad) - Order sanctioning refund by the first appellate authority (FAA) was upheld after rectifying the clerical/ arithmetical mistakes in the shipping bills....
Read MoreNotification No. 61/2019-Customs (N.T.) [S.O. 2946(E)] - (14/08/2019) - Custom Tariff Notification No. 61/2019-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. 61/2019-CUS...
Read MoreNotification No. 60/2019 - Customs (N.T.) - (14/08/2019) - Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 15th August, 2019 notified vide Notification No. 560/2019–Customs (N.T.) dated 114th August, 2019....
Read MoreNotification No. 36/2019-Customs (N.T./CAA/DRI) [S.O. 2928(E)] - (08/08/2019) - NOTIFICATION No. 36/2019-Customs (N.T./CAA/DRI) Principal Director General, Revenue Intelligence, hereby appoints officer mentioned in column (5) of the Table below to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on officers mentioned in...
Read MoreInstruction No. 03/2019-Customs - (13/08/2019) - 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. In its observations, Audit has inter-alia pointed out that there was no provision in the Customs no...
Read MoreNotification No.59/2019 - Customs (N.T.) - (13/08/2019) - Amendment in Exchange Rate of Swiss Franc for imported and export goods notified vide Exchange Rates Notification No.59/2019-Custom(NT), Dated 13.08.2019 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No.59/2019 – Cust...
Read MoreNotification No. 61/2019-Customs (N.T.) [S.O. 2946(E)] - (14/08/2019) -
Notification No. 60/2019 - Customs (N.T.) - (14/08/2019) -
Notification No. 36/2019-Customs (N.T./CAA/DRI) [S.O. 2928(E)] - (08/08/2019) -
Instruction No. 03/2019-Customs - (13/08/2019) -
Notification No.59/2019 - Customs (N.T.) - (13/08/2019) -
Notification No. 32/2019-Customs (ADD) - (10/08/2019) -
Circular No. 24/2019-Customs - (08/08/2019) -
Notification No. 58/2019-Customs (N.T.) - (08/08/2019) -
Notification No. 57/2019-Customs (N.T.) - (08/08/2019) -
