Custom Duty : The circular permits unloading of returned export cargo and cancellation of Shipping Bills under special conditions. Export incent...
Goods and Services Tax : Analysis of GSTR-1 vs GSTR-3B mismatch, Section 128A interest/penalty waiver, and the controversial CBIC circular. Legal challenge...
Custom Duty : CBIC introduces Ekal Anubandh for single electronic bonds, reducing costs and delays for importers/exporters. Learn about its feat...
Goods and Services Tax : Learn about Reverse Charge Mechanism (RCM) under GST, its applicable goods/services, suppliers, recipients, and GST rates. Stay up...
Goods and Services Tax : CBIC issues guidance on GST treatment of vouchers, addressing distribution models, unredeemed vouchers, and associated services to...
Custom Duty : The reform removes value restrictions on courier exports, enabling higher-value shipments. It aims to boost e-commerce exports and...
Custom Duty : Exporters using the postal route can now claim Duty Drawback, RoDTEP, and RoSCTL benefits. The move creates parity with other expo...
DGFT : Union Commerce Minister Piyush Goyal has launched a guidebook mapping 12,167 HSN Codes to 31 ministries, aiming to improve policy,...
Custom Duty : The government provides details on current vacancies in the CBDT and CBIC, citing ongoing recruitment efforts and challenges like ...
Goods and Services Tax : CBIC alerts taxpayers to fake GST summons. Verify communications using the CBIC-DIN tool online. Report suspicious activity to DGG...
CA, CS, CMA : The Central Administrative Tribunal, Cuttack, imposed a ₹20,000 cost on the CBIC Chairman for non-compliance with its earlier di...
Goods and Services Tax : Delhi High Court held that demand on account of ITC availed from supplier whose GST registration has been cancelled retrospectivel...
Custom Duty : Delhi High Court directed Customs Officials to ensure that old jewellery of even Indian travellers, personal jewellery which is be...
Goods and Services Tax : Delhi High Court rules that CBIC is not required to clarify GST on Battery Energy Storage Systems (BESS), directing taxpayers to r...
Custom Duty : Delhi High Court calls for a review of Baggage Rules to address outdated limits on gold jewellery and prevent harassment of genuin...
Custom Duty : The government has retained existing tariff values for key imports like gold, silver, and edible oils. The update ensures valuatio...
Goods and Services Tax : Raigad CGST Commissionerate issued SOPs for taxpayer grievance redressal, introducing open house meetings, local seminars, and esc...
Custom Duty : CBIC circular simplifies bank account registration for exporters. Same incentive bank account and IFSC code are now auto-approved ...
Custom Duty : CBIC newsletter covers GST Bachat Utsav, grievance redressal rank, BRICS recognition, cargo scanner launch, and GST evasion enforc...
Custom Duty : CBIC launches a training program for civil servants, integrates digital test reports for customs, and mandates an annual training ...
♦ Notification No. 35/2021 – Central Tax has been issued by the CBIC notifying Central Goods and Services Tax (Eight Amendment) Rules, 2021. A brief summary of it is as under: ♦ With effect from a date to be notified, Rule 10A has been amended to prescribe that the bank details which is required to […]
Now, we examine three situations. All arising out of manipulative interpretation but then there is God, as you will see it. The first is a case, where the exporter effected exports under the erstwhile Central Ex. regime under the rebate & discharged duty liability on the CIF value of exports as the contract with the foreign buyer states very clearly that the delivery of goods stands completed once the goods are delivered at their warehouse & put to test & pass the Quality Control parameters & duly accepted by the buyer.
The 45th GST Council Meeting was held on 16th-17th September 2021 at Lucknow under the Chairmanship of the Union Finance Minister and the Chairperson, GST Council Smt. Nirmala Sitharaman. A series of trade friendly recommendations were discussed and agreed upon by the GST Council.
The Board is extremely concerned about effective and timely handling of court cases on disciplinary matters in the field formations to protect the interest of the Government, The Board is also desirous of ensuring timely and effective measures by Cadre Controlling Authorities or the Commissionerates/Directorates concerned in defending the cases in the right perspective, upholding the guidelines and policies of the Government.
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 3rd September, 2021, vide Notification No. 71/2021 – Customs (N.T.) | Dated: 2nd September, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi ***** Notification No. 71/2021 – Customs (N.T.) | Dated: 2nd September, […]
CBIC extends the Anti-Dumping Duty (ADD) on imports of ‘Axle for Trailers’ originating in or exported from People’s Republic of China, imposed vide Notification No. 54/2016- Customs (ADD), dated 29th November, 2016, till 28th January, 2022. Notification No. 46/2021-Customs (ADD) | Dated: 25th August, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification […]
Meerut Zonal Unit of DGGI has unearthed a fake billing racket involving numerous fictitious firms manipulating fake invoices to show the procurement of metal scrap, leading to the passing on of unlawful ITC of approximately Rs. 130 crores without any concomitant supply of goods.
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 20th August, 2021, vide Notification No. 68/2021 – Customs (N.T.) | Dated: 19th August, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 68/2021 – Customs (N.T.) New Delhi, dated […]
Seeks to amend notification No. 57/2000-Customs, dated the 8th May, 2000 providing for extension of last date of export by six months, for those cases where the last date of export falls between 01.02.2021 and 30.06.2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 39/2021-Customs […]
As you are aware, in order to promote information sharing on the modus operandi, findings or observations detected during the investigation, audit or risk analysis etc., there exists a practice of issuing Circulars/Reports/Alerts etc by the Directorates/Commissionerates/Audit to all the Zones.
