Custom Duty Notifications

Export benefits in India

Custom Duty - Every country believes in keeping foreign reserves on a higher side to balance the economy. For that purpose, every economy tends to encourage the exports and motivate the indigenous production. To encourage the exporter every country provides a lot of benefits in terms of Duty Drawback etc. India is not behind compared to any other [&hel...

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Analysis of Ad hoc Exemption Order No. 4/2021& related CBIC FAQs

Custom Duty - Ad hoc Exemption Order No. 4/2021-Customs read with FAQs issued by CBIC dated 7th May, 2021 Earlier CBIC issued Ad hoc Exemption Order No. 4/2021-Customs dated 03-05-2021 to providing the relief/exemption from IGST on imports of specified COVID-19 relief material. Certain procedural clarification was untouched in the said order. For answe...

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Direct & Indirect Taxes Updates- April 2021

Custom Duty - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Government extends time for payment under VSV (Vivad Se Vishwas Scheme) to 30.06.2021 including timelines for assessment (Notification No. 39/2021-Income Tax/S.O. 1704(E)& Notification No. 38/2021-Income Tax/S.O. 1703(E) dated 27/04/2021) ♦ CBDT vid...

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Direct & Indirect Tax Updates March 2021

Custom Duty - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ The Lok Sabha on 23rd March 2021 passed the Finance Bill, 2021 to give effect to the financial proposals of the Central Government for the financial year 2021-2022. (The Finance ACT, 2021 NO. 13 OF 2021 dated 28th March, 2021) ♦ CBDT revises Form No. 12...

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Direct & Indirect Taxes Updates- February 2021

Custom Duty - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT extends limitation dates for passing of assessment or reassessment orders under the IT Act, that are getting time barred on 31st March, 2021 due to extension of limitation date by the notification dt. 31st December, 2020 has been extended to 30th Apr...

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Facility to accept undertaking for bond extended till June 30 2021

Custom Duty - Central Board of Indirect and Customs had issued a Circular No. 09/2021 – Customs dated May 08, 2021, to restore the facility under Circular No. 17/2020 dated April 3, 2020, namely, ‘Measure to facilitate trade during lockdown period under Section 143AA of the Customs Act, 1962’. Taking cognizance of the difficulties listed ...

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Ad hoc Exemption Order No. 4/2021-Customs – FAQs

Custom Duty - FREQUENTLY ASKED QUESTIONS Ad hoc Exemption Order No. 4/2021-Customs dated 3 May, 2021 (said Order) exempting IGST on imports of specified COVID-19 relief material subject to conditions – regarding Last Updated: 7th May, 2021 Q.1 Whether exemption from IGST under the said Order is available in case the importer buys the goods from abroa...

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State/UTs Nodal Authority for Adhoc IGST exemption order

Custom Duty - Details of State Nodal Authority appointed by States in respect of Adhoc Exemption Order 4/2021-Cus for IGST exemption Detail Contains State Name, Name of the Designated Person, Designation of the Nodal Authority, Office, Address of the Nodal Authority, Phone number and Email of the Nodal Authority. Download List of State/UTs Nodal Author...

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Advisory on filing of Bill of Entry (BE) w.e.f. 29.03.2021

Custom Duty - Ministry of Finance Government of India Attention! Importers/Customs Brokers Important amendments regarding filing of Bill of Entry (BE) w.e.f. 29.03.2021 (Section 46 of Customs Act) ♣ BE to be filed in advance as per the following time-limits:  BE is to be filed latest by end of the day of arrival of the Vessel/Aircraft/Vehicle 1. Imp...

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Explanatory Memoranda to Budget 2021 Custom & Excise Notifications

Custom Duty - Govt has issued following notifications related to Excise and Custom duty to give effect to Provisions of Union Budget 2021- –Notification Nos. 02/2021-Customs to 15/2021-Customs -Notification Nos. 09/2021-Customs (N.T.) to 12/2021-Customs -Notification Nos. 05/2021-Customs (ADD) to 07/2021-Customs (ADD) -Notification Nos. 01/2021-C...

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NIDB data cannot be sole basis to reject transaction value without any cogent reasons

Commissioner Of Customs Vs Hanuman Prasad & Sons (CESTAT Delhi) - The issue under consideration is whether the invoice represent the true transaction value in the international market? This casual observation is not based on the factual position that emerges from the records of the case. Thus, for all the reasons above, the Commissioner (Appeals) was not justified...

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Adjudication Order must be Speaking & should deal with facts: HC

Supreme Industries Ltd. Vs CBIC & Ors. (Bombay High Court) - The issue under consideration is whether the order passed by the custom officer against the self assessment done by petitioner without stating any specific reason is sustainable in law?...

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NOC against Advance Authorization Can be Issued only After Compliance with Section 149 of Customs Act

Parayil Food Products Pvt. Ltd. Vs Union of India (Kerala High Court) - The issue under consideration is whether the rejection of advance authorization against the shipments for fulfillment of export obligations is justified in law?...

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Notice for Demand/Recovery not sustainable if it is against SC Judgement

Jumbo Bags Ltd. Vs DCIT (Madras High Court) - Jumbo Bags Ltd. Vs Deputy Commissioner (Madras High Court) The issue under consideration is whether demand or recovery notice passed against the judgement delivered by the apex court is justified law? In the instant case, the petitioner claimed exemption from payment of duty against the sales effect...

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SC allows withdrawal of Appeal for mere Excise Component under SVLDR Scheme, 2019

Sterlite Optical Technologies Ltd. Vs Commissioner of Customs & Central Excise (Supreme Court) - The issue under consideration is whether petitioner's request to withdraw appeal in respect of the excise component under Sabka Vishwas (Legacy Dispute Resolution) (SVLDR) Scheme, 2019 can be accepted by the court?...

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Refund & Drawback Disposal Drive from 15.05.2021 to 31.05.2021

Instruction No. 10/2021-Customs - (13/05/2021) - This Special Drive shall be in place from 15th May 2021 to 31st May 2021. It is expected that during this period all refund and drawback claims that are pending as on 14th May 2021 shall be disposed....

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Tariff Notification No. 47/2021-Customs (N.T.), Dated 13.05.2021

Notification No. 47/2021-Customs (N.T.) [S.O. 1857(E)] - (13/05/2021) - Tariff Tariff Notification No. 47/2021-Customs (N.T.), Dated 13.05.2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 13th May 2021 ...

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Anti-dumping Investigation on imports of ‘Acrylonitrile Butadiene Rubber (NBR)’

Case No. ADD-(OI)-15/2020 - (12/05/2021) - Case No. ADD-(OI)-15/2020 - Anti-dumping Investigation concerning imports of Acrylonitrile Butadiene Rubber (NBR) into India originating in or exported from China PR, European Union (EU), Japan and Russia...

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Measure to facilitate trade during lockdown period under Customs Act

Public Notice No. 43/2021-JNCH - (10/05/2021) - Keeping in mind the difficulties faced by the trade and industry in the ongoing lockdown/constraints imposed in different regions of India due to resurgence of COVID- 19 pandemic, and the importance of facilitating the Customs clearance process, the Board has decided to restore the facility of accep...

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Customs Circular on accepting Undertaking Instead of Bond

Circular No. 09/2021-Customs - (08/05/2021) - CBIC has decided to restore the facility of acceptance of an undertaking in lieu of bond by Customs formations from the date of issue of this Circular till 30.06.2021. Importers/Exporters availing this facility shall ensure that the undertaking furnished in lieu of bond is duly replaced with a prope...

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Recent Posts in "Custom Duty Notifications"

Refund & Drawback Disposal Drive from 15.05.2021 to 31.05.2021

Instruction No. 10/2021-Customs 13/05/2021

This Special Drive shall be in place from 15th May 2021 to 31st May 2021. It is expected that during this period all refund and drawback claims that are pending as on 14th May 2021 shall be disposed....

Read More

Export benefits in India

Every country believes in keeping foreign reserves on a higher side to balance the economy. For that purpose, every economy tends to encourage the exports and motivate the indigenous production. To encourage the exporter every country provides a lot of benefits in terms of Duty Drawback etc. India is not behind compared to any other [&hel...

Read More
Posted Under: CA, CS, CMA |

Tariff Notification No. 47/2021-Customs (N.T.), Dated 13.05.2021

Notification No. 47/2021-Customs (N.T.) [S.O. 1857(E)] 13/05/2021

Tariff Tariff Notification No. 47/2021-Customs (N.T.), Dated 13.05.2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 13th May 2021 Notification No. 47/2021-Customs (N.T.) ...

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Facility to accept undertaking for bond extended till June 30 2021

Central Board of Indirect and Customs had issued a Circular No. 09/2021 – Customs dated May 08, 2021, to restore the facility under Circular No. 17/2020 dated April 3, 2020, namely, ‘Measure to facilitate trade during lockdown period under Section 143AA of the Customs Act, 1962’. Taking cognizance of the difficulties listed ...

Read More
Posted Under: CA, CS, CMA |

Anti-dumping Investigation on imports of ‘Acrylonitrile Butadiene Rubber (NBR)’

Case No. ADD-(OI)-15/2020 12/05/2021

Case No. ADD-(OI)-15/2020 - Anti-dumping Investigation concerning imports of Acrylonitrile Butadiene Rubber (NBR) into India originating in or exported from China PR, European Union (EU), Japan and Russia...

Read More

Measure to facilitate trade during lockdown period under Customs Act

Public Notice No. 43/2021-JNCH 10/05/2021

Keeping in mind the difficulties faced by the trade and industry in the ongoing lockdown/constraints imposed in different regions of India due to resurgence of COVID- 19 pandemic, and the importance of facilitating the Customs clearance process, the Board has decided to restore the facility of acceptance of an undertaking in lieu of bond ...

Read More

Analysis of Ad hoc Exemption Order No. 4/2021& related CBIC FAQs

Ad hoc Exemption Order No. 4/2021-Customs read with FAQs issued by CBIC dated 7th May, 2021 Earlier CBIC issued Ad hoc Exemption Order No. 4/2021-Customs dated 03-05-2021 to providing the relief/exemption from IGST on imports of specified COVID-19 relief material. Certain procedural clarification was untouched in the said order. For answe...

Read More
Posted Under: CA, CS, CMA |

Customs Circular on accepting Undertaking Instead of Bond

Circular No. 09/2021-Customs 08/05/2021

CBIC has decided to restore the facility of acceptance of an undertaking in lieu of bond by Customs formations from the date of issue of this Circular till 30.06.2021. Importers/Exporters availing this facility shall ensure that the undertaking furnished in lieu of bond is duly replaced with a proper bond by 15.07.2021....

Read More

Ad hoc Exemption Order No. 4/2021-Customs – FAQs

FREQUENTLY ASKED QUESTIONS Ad hoc Exemption Order No. 4/2021-Customs dated 3 May, 2021 (said Order) exempting IGST on imports of specified COVID-19 relief material subject to conditions – regarding Last Updated: 7th May, 2021 Q.1 Whether exemption from IGST under the said Order is available in case the importer buys the goods from abroa...

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Posted Under: CA, CS, CMA |

Anti Dumping Duty Imposed till 31.10.2021 om import of seamless tubes, pipes, hollow profiles of iron etc

Notification No. 29/2021-Customs (ADD) [G.S.R. 324(E)] 07/05/2021

Seeks to amend notification No. 07/2017-Customs (ADD), dated 17-02-2017, so as to extend the applicability of the Anti dumping duty (ADD) on imports of seamless tubes, pipes, hollow profiles of iron, alloy or non alloy steel originating in or exported from Peoples’ Republic of China up to and inclusive of 31st October, 2021. MINISTRY O...

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