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5 Major Custom Duty Proposals of Union Budget 2023-24

In this article author covered 5 Major Custom Duty Proposals of Union Budget 2023-24 which includes Exemptions from Social Welfare Surcharge...

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Posted Under: Custom Duty |

Changes under Customs & Excise – Key Highlights of Union Budget 2023

CHANGES IN CUSTOMS The Finance Minister has introduced the Finance Bill, 2023 in Lok Sabha today, that is February 1, 2023. Changes in Customs, Central Excise, GST law and rates have been proposed through the Finance Bill, 2023. To prescribe effective rates of duty, following notifications are being issued: Notification /Circular Nos. Dat...

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ICEGATE Registration and Procedure

ICEGATE (Indian Customs Electronic Commerce/Electronic Data Interchange Gateway) is an e-commerce portal managed by the Indian Customs department. It provides a single window for electronic submission of trade-related documents and payment of customs duties and taxes. The portal is intended to simplify and streamline the customs clearance...

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Posted Under: Custom Duty |

When & How to Strike Off Name of LLP from Register of LLPs

An application is required to be made in E-Form 24 to Registrar of Companies for striking off name of the LLP with consent of all partners...

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Posted Under: Custom Duty |

Integrated Desktop Computer cannot be classified as ‘portable device’

Held that, such goods cannot be classified as ‘portable’ for the reasons that their dimensions make it illogical and unviable for daily transit and the same needs to be transported along with the power cable as well as the applicable stand if it is to be mounted. Further, the consumer is unable to carry them around in the absence of a...

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Posted Under: Custom Duty |

Security/ bank guarantee necessary for provisional release of confiscated goods before adjudication

Whether the submission of bank guarantee for provisional release can be completely waived off if differential duty has been paid?...

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Posted Under: Custom Duty |

Valuation of Stock Transfers under GST

Supply of goods or services or both between related persons or between distinct persons as specified in section 25, when made in the course or furtherance of business is to be treated as a supply even if made without consideration in terms of Para 2 of Schedule I. In terms of Section 25(4) “A person who […]...

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Posted Under: Service Tax |

Whether Supply from SEZ to EOU is Import for EOU & Custom Duty Applicable?

Supply from SEZ to EOU Whether the Transaction Treated as Import for EOU? Whether Customs Duties are Applicable? SEZ : Overview Special Economic Zones (SEZ) in India is a specially delimited enclave. Most importantly, the economic laws in this geographical area are different from the prevailing laws in other parts of India. An SEZ is dee...

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Posted Under: Custom Duty |

Custom broker is not responsible for overseeing correctness of documents issued by Government Authorities

CESTAT held that custom brokers are not responsible for overseeing correctness of documents provided by client issued by government authorities for verification of exporters as per Regulation....

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Posted Under: Custom Duty |

Special Valuation Branch (SVB) under Customs – Valuation for Goods imported from Related Parties

Special Valuation Branch is a special unit of the Customs department which is specializing in investigating the transactions which are entered into by importer based out in India and a supplier based in foreign country who have relationship like joint ventures, partnerships, holding-subsidiary etc....

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