Filter Posts

Reset
Found 12 Results

GST: CBEC announces new Duty drawback rates

After 30th September 2017, drawback will be admissible only at lower rate determined on the basis of the custom duties paid on the goods imported for supplying goods for export....

Read More
Posted Under: Custom Duty |

New Export Procedure with effect from 01.10.2017

CBEC Board has laid down simplified procedure for stuffing and self- sealing of export goods in containers. By prescribing this procedure, the CBEC Board has done away with the sealing of containers of export goods by the departmental officers....

Read More
Posted Under: Custom Duty |

Benefits of Authorized economic operator certificate

AEO is facilitation scheme i.e. holder of this certificate is entitled for certain privilege, benefits and exemption on account of import and export, In India, AEO certification is Three-Tier AEO (T1, T2, T3). This three tier certification is launched by Indian Customs Circular No. 33/2016 dated 22th July, 2016...

Read More
Posted Under: Custom Duty |

Customs – Self-Sealing Latest Developments

The Central Board of Excise and Customs (CBEC), last Monday issued a circular (In continuation of Circular No. 26/2017 dated 01.07.2017) regarding Implementation of Electronic Sealing of Containers by Exporters w.e.f. 1st October 2017....

Read More
Posted Under: Custom Duty |

Customs – Provisional Release of Seized Imported Goods Latest Guidelines

The Central Board of Excise & Customs (CBEC), vide Circular No. 35/2017 – Customs, dated 16th August 2017 issued guidelines for provisional release of seized imported goods pending adjudication under Section 110 of the Customs Act, 1962 Section 110A  Any goods, documents or things seized under Section 110, may, pending the order of...

Read More
Posted Under: Custom Duty |

Tax Incidence – High Sea Sales of Imported Goods – GST

As provided in GST Laws, all inter-state transactions are subject to IGST. Further, High sea sales of imported goods are akin to inter-state transactions. ...

Read More
Posted Under: Custom Duty |

Amendment by Taxation Laws (Amendment Act)

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....

Read More
Posted Under: Custom Duty |

Positive Impact of Export Facilitation Measures on Exports

Latest data suggests signs of recovery of Indias exports. December 2016 is the continuous 4th month when merchandise exports registered positive growth. Despite weak global demand, India’s overall Trade figures also look good, helped by the strong net foreign exchange earnings from the IT-led Services Export Sector....

Read More
Posted Under: Custom Duty |

Union Budget 2017- Highlights of Custom Duty Proposals

Definition of following terms is proposed to be incorporated in section 2 of the Customs Act, 1962: Beneficial owner, Passenger Name Record Information, Foreign Post Office and International Courier Terminal...

Read More
Posted Under: Custom Duty |

Union Budget 2017: Key Changes in Custom Duty

Article disusses amendment in Custom duty carried out /; Proposed by union budget 2017 related to Amendments in Customs Act, 1962 / Customs Tariff Act, 1975, Legislative changes regarding Authority for Advance Ruling/ Settlement of Cases, Amendments affecting rates of BCD etc....

Read More
Page 1 of 212