Custom Duty Notifications

Direct & Indirect Taxes Updates- June 2020

CA, CS, CMA - Direct & Indirect Taxes Updates- June 2020 DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♣ Extension of due dates w.r.t. ITR filing for FY2018-19, TDS/ TCS returns due dates for Q4- FY 19-20. Details given below- Particulars Earlier due date Updated due date ITR filing for FY 18-19 30th June 2020 3...

Read More

Provisions of Refunds under Customs Act, 1962

CA, CS, CMA - Section 26 of the Customs Act, 1962 prescribes provision for refund of export duty, Section 26A of the Customs Act, 1962 deals with refund of import duty in certain cases and Section 27 of the Customs Act, 1962 prescribes claim for refund of duty in case of excess payment duty on importation. The relevant provisions […]...

Read More

Direct and Indirect Tax updates May 2020

CA, CS, CMA - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT notifies new form for 26AS which shall also include information relating to assessee’s specified financial transaction (Information of property and share transactions etc.), payment of taxes, demand/ refund and pending / completed proceedings (Noti...

Read More

Duty Drawback Under Customs Act, 1962

CA, CS, CMA - Duty Drawback scheme was introduced by the Ministry of Finance as a rebate for duty chargeable on any imported materials or excisable materials used in manufacture or processing of goods, manufactured in India and exported. The exported products are revenue natural. The Central Government is empowered to grant Duty Drawback under section ...

Read More

Direct & Indirect Taxes Updates- April 2020

CA, CS, CMA - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Government issues clarification regarding short deduction of TDS / TCS due to increase in rates of Surcharge by Finance Act 2019. (Circular no. 8/2020 dated 13th April 2020)Recent circulars/ notifications/ rules/ clarifications/News ♦ Government issues ...

Read More

Result of Customs Brokers Examination, 2020 conducted on 06.03.2020

CA, CS, CMA - 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:...

Read More

Budget 2020: Explanatory Memoranda to Custom Duty notifications

CA, CS, CMA - 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/...

Read More

Steps taken by Government for growth of TV Industry in India

CA, CS, CMA - 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....

Read More

Customs Brokers’ Examination- Guidelines For Candidates

CA, CS, CMA - 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...

Read More

Custom dept. proposes simplified procedures for exports through India Post

CA, CS, CMA - 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...

Read More

Higher discount justified if Goods imports in Bulk & maintain inventory by incurring Additional Cost

Lutron GL Sales & Services Pvt. Ltd. Vs Commissioner of Customs (CESTAT Delhi) - Lutron GL Sales & Services Pvt. Ltd. Vs Commissioner of Customs (CESTAT Delhi) The issue under consideration is whether the percentage of enhancement to the transaction value ordered by the Deputy Commissioner of Customs is justified in law? In the present case, the appellant M/s Lutron GL Sales...

Read More

Customs Valuation Rules- Invoice price cannot be rejected without cogent reasons

Guru Rajendra Metalloys India Pvt Ltd Vs C.C. (CESTAT Ahmedabad) - CESTAT are of the clear view that merely based on DGOV circular also, value cannot be enhanced which is without authority of law. It is clearly held that DGOV circular cannot override the provisions of Valuation Rules. ...

Read More

DGOV guidelines not overrules Customs Valuation Rules

Sunland Alloys Vs C.C. (CESTAT Ahmedabad) - Sunland Alloys Vs C.C. (CESTAT Ahmedabad) The issue under consideration is whether the DGOV guidelines are over and above Customs Valuation Rules? In the present case, the appellant imported Aluminium Scrap under various Bill of Entries and the price declared in the Bill of Entry is as per the invoi...

Read More

Availment of ineligible drawback & IGST: Search & seizure by DRI justified

Shri Vishnu Processors Vs Union of India and others (Punjab and Haryana High Court) - The issue under consideration is whether the Search and resultant seizure of documents and record by Director of Revenue Intelligence is justified under Customs Act, 1962?...

Read More

Exporter liable to pay fine for violation of terms of DFCE Scheme

Kanak Exports Through Its Proprietor Mr. Satish Bansal Vs Union Of India (Delhi High Court) - The issue under consideration is whether the imposition of cost of one lakh rupees on an exporter for the blatant violation of the Duty-Free Credit Entitlement Scheme (DFCE) is justified in law?...

Read More

Steps to Streamline processes related to Bonds & First Check BEs

Public Notices No. 78/2020-JNCH - (04/07/2020) - With the objective of further facilitating trade and streamlining procedures, particularly to overcome the scourge of Covid-19, following initiatives are being implemented in System w.e.f 6th July 2020:...

Read More

End-date to complete statutory compliances under Excise & Custom

Notification No. D.O.No.21/CH(IC)/2020 - (29/06/2020) - The end-date for completion of statutory compliances under Central Excise Act, 1944, Customs Act, 1962, Customs traiff Act, 1975 or Chapter V of the Finance Act, 1994 has been extended till 30th day of September, 2020....

Read More

CBIC notifies Rate of Exchange of Foreign Currencies wef 03.07.2020

Notification No. 55/2020 - Customs (N.T.) - (02/07/2020) - CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 03.07.2020 vide Notification No. 55/2020-Customs (N.T.), Dated: 2nd July, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 55/2020 –...

Read More

Tariff Notification No. 54/2020-Customs (N.T.), Dated: 30.06.2020

Notification No. 54/2020-Customs (N.T.) [S.O. 2154(E)] - (30/06/2020) - Tariff Notification No. 54/2020-Customs (N.T.), Dated: 30.06.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs)  Notification ...

Read More

CBIC extended validity of AEO certificates expired/expiring

Circular No. 31/2020-Customs - (30/06/2020) - CBIC extended validity of all AEO certificates expired/expiring between 01.03.2020 and 30.09.2020 to 30.09.2020 except for those entities against which a negative report is received during this period vide Circular No. 31/2020-Customs dated June 30, 2020. Circular No. 31/2020-Customs F.No. D-20/DIC/...

Read More

Recent Posts in "Custom Duty Notifications"

Direct & Indirect Taxes Updates- June 2020

Direct & Indirect Taxes Updates- June 2020 DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♣ Extension of due dates w.r.t. ITR filing for FY2018-19, TDS/ TCS returns due dates for Q4- FY 19-20. Details given below- Particulars Earlier due date Updated due date ITR filing for FY 18-19 30th June 2020 3...

Read More
Posted Under: Custom Duty |

Steps to Streamline processes related to Bonds & First Check BEs

Public Notices No. 78/2020-JNCH (04/07/2020)

With the objective of further facilitating trade and streamlining procedures, particularly to overcome the scourge of Covid-19, following initiatives are being implemented in System w.e.f 6th July 2020:...

Read More

End-date to complete statutory compliances under Excise & Custom

Notification No. D.O.No.21/CH(IC)/2020 (29/06/2020)

The end-date for completion of statutory compliances under Central Excise Act, 1944, Customs Act, 1962, Customs traiff Act, 1975 or Chapter V of the Finance Act, 1994 has been extended till 30th day of September, 2020....

Read More

CBIC notifies Rate of Exchange of Foreign Currencies wef 03.07.2020

Notification No. 55/2020 - Customs (N.T.) (02/07/2020)

CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 03.07.2020 vide Notification No. 55/2020-Customs (N.T.), Dated: 2nd July, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 55/2020 – Customs (N.T.) New Delhi, dated the 2nd...

Read More

Tariff Notification No. 54/2020-Customs (N.T.), Dated: 30.06.2020

Notification No. 54/2020-Customs (N.T.) [S.O. 2154(E)] (30/06/2020)

Tariff Notification No. 54/2020-Customs (N.T.), Dated: 30.06.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs)  Notification No. 54/2020-CUSTOMS (N.T.) New Delhi, 30...

Read More

CBIC extended validity of AEO certificates expired/expiring

Circular No. 31/2020-Customs (30/06/2020)

CBIC extended validity of all AEO certificates expired/expiring between 01.03.2020 and 30.09.2020 to 30.09.2020 except for those entities against which a negative report is received during this period vide Circular No. 31/2020-Customs dated June 30, 2020. Circular No. 31/2020-Customs F.No. D-20/DIC/AEO/16/2017 Government of India Ministry...

Read More

CBIC extends time limit for compliance under Excise & Custom Law

Notification No. G.S.R. 418(E) (27/06/2020)

29th day of September, 2020 shall be the end date of the period during which the time limit specified in, or prescribed or notified under, the Central Excise Act, 1944 , Customs Act, 1962 (except sections 30, 30A, 41, 41A, 46 and 47), Customs Tariff Act, 1975 or Chapter V of the Finance Act, 1994 falls for the completion or compliance of...

Read More

Provisions of Refunds under Customs Act, 1962

Section 26 of the Customs Act, 1962 prescribes provision for refund of export duty, Section 26A of the Customs Act, 1962 deals with refund of import duty in certain cases and Section 27 of the Customs Act, 1962 prescribes claim for refund of duty in case of excess payment duty on importation. The relevant provisions […]...

Read More
Posted Under: Custom Duty |

Drawl and Collection of Sample for Animal Quarantine NOC

Public Notice No. 76/2020-JNCH (26/06/2020)

Presently no staff from Animal Quarantine Department (AQCS) has been deployed at JNCH for drawl and collection of sample. Therefore, the samples are being drawn for AQCS in presence of the customs officer and sealed samples are delivered to Customs broker for depositing the same in the Animal Quarantine office located at Kopar khairane, N...

Read More

Modalities of WTO committed in-quota tariffs on specified items

Notification No. 28/2020-Customs [G.S.R. 398(E)] (23/06/2020)

CBIC  prescribes the manner and modalities in respect of WTO committed in-quota tariffs on specified items vide Notification No. 28/2020-CUSTOMS dated 23rd June, 2020. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 23rd June, 2020 Notification No. 28/2020-CUSTOMS G.S.R. 398(E).- In exercise of the powers conferre...

Read More

Browse All Categories

CA, CS, CMA (4,806)
Company Law (6,155)
Custom Duty (7,794)
DGFT (4,244)
Excise Duty (4,368)
Fema / RBI (4,242)
Finance (4,456)
Income Tax (33,461)
SEBI (3,525)
Service Tax (3,564)

Search Posts by Date

July 2020
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031