Custom Duty Notifications

Direct & Indirect Taxes Updates- March 2020

Custom Duty - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Due to the outbreak of Novel Covid-19, Finance Minister has announced several relief measures on 24th March 2020– √ Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020. √ Aadhaar-PAN linking date to be...

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A brief on valuation approaches for registered valuers

Custom Duty - Types of approaches used in Valuation : A brief on valuation approaches for registered valuers With the introduction of concept of Registered valuer’ by Companies Act, 2013, the requirement for a professional and methodological  approach to valuation has arisen. Not a while ago, for majority of proefessionals the valaution of an eq...

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Negetive List of Duty Drawback (Section-76) under Custom Act,1962

Custom Duty - Section 76 of the Customs Act, 1962 contains the provisions in respect of prohibition and regulation of drawback and no drawback shall be allowed in the following circumstances: (a) In respect of any goods, the market price of which is less than the amount of drawback due thereon, (b) If the Central Government is of […]...

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Understanding the sweep of ‘Import’ under Custom Act, 1962

Custom Duty - Tax treatment of imported goods stored in a warehouse and sale made therefrom, has always been an apple of discord in Indirect Taxation which continues to trouble our courts very bitterly. It has been witnessed that stand of Department in this issue has remained fairly unchanged as they have always maintained the position that in such sit...

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Analysis of Manufacture and Other Operations in Warehouse (no. 2) Regulations, 2019

Custom Duty - Central Board of Indirect Taxes and Customs (CBIC) has recently issued Notification  Notification 69/2019-Customs (N.T.) dated 01 October 2019. Please find below brief of the update for your reference. This notification has been issued to issue new regulation namely “Manufacture and Other Operations in Warehouse (no. 2) Regu...

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Result of Customs Brokers Examination, 2020 conducted on 06.03.2020

Custom Duty - The written Customs Brokers Examination, 2020 was conducted on 06.03.2020 at designated centers across India. In terms of Regulation 6(2) of CBLR, 2018 the list of candidates who have passed the written examination is as follows:...

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Budget 2020: Explanatory Memoranda to Custom Duty notifications

Custom Duty - Article contains Explanatory Memoranda to Notification Nos. 01/2020-Customs to 12/2020-Customs, dated 2nd February, 2020, Explanatory Memoranda to Notification Nos. 09/2020-Customs (N.T.) to 10/2020 and Explanatory Memorandum to Notification No. 01/2020-Customs (SG), dated 2nd February, 2020. Explanatory Memoranda to Notification Nos. 01/...

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Steps taken by Government for growth of TV Industry in India

Custom Duty - Government has removed 5% Basic Custom Duty (BCD) on open cell (15.6 and above) for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV Panels vide Notification No. 30/2019-Customs dated 17.09.2019, till September 2020....

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Customs Brokers’ Examination- Guidelines For Candidates

Custom Duty - Customs Brokers’ Examination GUIDELINES FOR THE CANDIDATES (Please refer Regulation 6 of Customs Brokers Licensing Regulations, 2018) A. Admit Card and Mock Test: A dummy Question paper for the purpose of awareness of candidates will be made available on the CBIC and NACIN websites under the icon/tab <GSTP/CBLR Exam>. A link to do...

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Custom dept. proposes simplified procedures for exports through India Post

Custom Duty - Customs and Postal Department hold First ever Joint Conference to deliberate on streamlining imports and exports by post; To cater to the SMEs and to boost the Make in India program, Customs Department proposes new simplified procedures for exports through India Post. Customs Department proposes new simplified procedures for exports throu...

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Anti-Dumping Investigation of imports of Mono Ethylene Glycol from Saudi Arabia terminated

Case No. (O.I.) 21/2019 - (06/04/2020) - It is clarified that as the domestic industry has requested for termination of the investigation only in respect of imports of ‘Mono Ethylene Glycol (MEG or Ethylene Glycol)’ from Saudi Arabia, the investigation shall continue against the imports of subject goods originating in or exported from ...

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Customs Measure to facilitate trade during lockdown period

Circular No. 17/2020-Customs - (03/04/2020) - CBIC has decided to take certain measures for a temporary period in terms of section 143AA of the Customs Act, 1962 with a view to expedite Customs clearance of goods and for maintaining balance between Customs control and facilitation of legitimate trade....

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CBIC notifies Rate of Exchange of Foreign Currencies wef 02.04.2020

Notification No. 37/2020-Customs (N.T.) - (01/04/2020) - CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 28.03.2020 vide Notification No. 37/2020-Customs (N.T.), Dated: 1st April, 2020. Government Of India Ministry Of Finance (Department Of Revenue) (Central Board Of Indirect Taxes And Customs) ***** Notification No. 37/2020 ...

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Tariff Notification No. 36/2020-Customs (N.T.), Dated: 31.03.2020

Notification No. 36/2020-Customs (N.T.) / S.O. 1234(E). - (31/03/2020) - Tariff Notification No. 36/2020-Customs (N.T.), Dated: 31.03.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No...

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Exemption from IGST & Compensation Cess upto 31.03.2021 on imported against AA/EPCG

Notification No. 18/2020-Customs [G.S.R. 227 (E).] - (30/03/2020) - CBIC extends the exemption from Integrated Tax and Compensation Cess upto 31.03.2021 on goods imported against AA/EPCG authorizations vide Notification No. 18/2020-Customs dated 30th March, 2020....

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Recent Posts in "Custom Duty Notifications"

Anti-Dumping Investigation of imports of Mono Ethylene Glycol from Saudi Arabia terminated

Case No. (O.I.) 21/2019 (06/04/2020)

It is clarified that as the domestic industry has requested for termination of the investigation only in respect of imports of ‘Mono Ethylene Glycol (MEG or Ethylene Glycol)’ from Saudi Arabia, the investigation shall continue against the imports of subject goods originating in or exported from Kuwait, Oman, UAE and Singapore in accor...

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Customs Measure to facilitate trade during lockdown period

Circular No. 17/2020-Customs (03/04/2020)

CBIC has decided to take certain measures for a temporary period in terms of section 143AA of the Customs Act, 1962 with a view to expedite Customs clearance of goods and for maintaining balance between Customs control and facilitation of legitimate trade....

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CBIC notifies Rate of Exchange of Foreign Currencies wef 02.04.2020

Notification No. 37/2020-Customs (N.T.) (01/04/2020)

CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 28.03.2020 vide Notification No. 37/2020-Customs (N.T.), Dated: 1st April, 2020. Government Of India Ministry Of Finance (Department Of Revenue) (Central Board Of Indirect Taxes And Customs) ***** Notification No. 37/2020 – Customs (N.T.) New Delhi, dated ...

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Direct & Indirect Taxes Updates- March 2020

DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Due to the outbreak of Novel Covid-19, Finance Minister has announced several relief measures on 24th March 2020– √ Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020. √ Aadhaar-PAN linking date to be...

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Posted Under: Custom Duty |

Tariff Notification No. 36/2020-Customs (N.T.), Dated: 31.03.2020

Notification No. 36/2020-Customs (N.T.) / S.O. 1234(E). (31/03/2020)

Tariff Notification No. 36/2020-Customs (N.T.), Dated: 31.03.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 36/2020-CUSTOMS (N.T.) New Delhi, 31st...

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Exemption from IGST & Compensation Cess upto 31.03.2021 on imported against AA/EPCG

Notification No. 18/2020-Customs [G.S.R. 227 (E).] (30/03/2020)

CBIC extends the exemption from Integrated Tax and Compensation Cess upto 31.03.2021 on goods imported against AA/EPCG authorizations vide Notification No. 18/2020-Customs dated 30th March, 2020....

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Customs Rate of Australian Dollar WEF 31st March, 2020

Notification No. 35/2020-Customs (N.T.) (30/03/2020)

CBIC notifies Customs Rate of Australian Dollar with effect from 31st March, 2020 vide Notification No. 35/2020-Customs (N.T.) dated 30th March 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 35/2020-Customs (N.T.) New Delhi, dated the 30th March, 2...

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CBIC notifies Rate of Exchange of Foreign Currencies wef 28.03.2020

Notification No. 34/2020-Customs (N.T.) (27/03/2020)

CBIC notifies Rate of Exchange of Norwegian Kroner and  Pound Sterling against India Rupees wef 28.03.2020 vide Notification No. 34/2020-Customs (N.T.), Dated: 27.03.2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 34/2020-Customs (N.T.) New Delhi, d...

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Tariff Notification No. 33/2020-Customs (N.T.), Dated: 26.03.2020

Notification No. 33/2020-Customs (N.T.) [S.O. 1221(E).] (26/03/2020)

Tariff Notification No. 33/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 33/2020-CUSTOMS (N.T.) New Delhi, 26th March, 2020 6 ...

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Customs Exchange Rate of Korean Won wef 27th March, 2020

Notification No. 32/2020 - Customs (N.T.) (26/03/2020)

Exchange Rates Notification No.32/2020-Custom (NT) dated 26.03.2020- notifying Customs Exchange Rate of Korean Won wef 27th March, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 32/2020 – Customs (N.T.) New Delhi, dated the 26th March, 2020 6...

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