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Self Sealing of Containers by Exporters- Latest Advisory

The Board in its earlier Circular prescribed certain conditions for Self-sealing procedure. 1. Obligation to intimate Jurisdictional Customs Officer The exporter shall be under an obligation to inform the details of the factory or warehouse where container sealing is to be carried out....

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Posted Under: Custom Duty |

e-SANCHIT- Frequently Asked Questions

Login into ICEGATE website using login credentials. II. Access the e-SANCHIT application by clicking on e-SANCHIT link provided in menu III. Upload document by clicking on Upload Documents button....

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Posted Under: Custom Duty |

SWIFT / e-SANCHIT Under Customs – Latest Developments

The Central Board of Excise & Customs (CBEC) has launched e- SANCHIT on a pilot basis from 20th October 2017 for paperless processing, uploading of supporting documents, to facilitate the trading across Borders. The ‘India Customs Single Window’ allows importers & exporters, to lodge their clearance documents onli...

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Posted Under: Custom Duty |

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....

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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....

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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...

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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....

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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...

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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. ...

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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....

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Posted Under: Custom Duty |
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