Goods and Services Tax : Duty Credit Scrips are goods as held by many Courts and the supply of the same liable to GST. Duty Credit Scrips covered under HSN...
Income Tax : Waiver of interest u/s 234B and 234C of Income Tax Act on delay in deposit of advance tax/self-assessment (SA) tax on MEIS/RODTEP ...
CA, CS, CMA : As we all are aware that online E Com portal for filing of MEIS, SEIS, ROSL and ROSCTL scheme was not working for a long which was...
Goods and Services Tax : Though the exporters were opting the RoDTEP Scheme, they had no idea about the rates to be notified under the scheme. However, the...
DGFT : In a major move aimed at boosting exports and offering relief to exporters, the government on 17th August 2021 notified Remiss...
DGFT : Government has released Rs 56,027 crore in order to clear pending export incentive dues to exporters, which is for various Schemes...
DGFT : Many of us are awaiting for DGFT online portal to start with online application filing of MEIS, SEIS and RoSL / RoSCTL for the exp...
DGFT : This report contains significant results of the performance audit on Merchandise Exports from India Scheme (MEIS) and Service Expo...
Corporate Law : The Government has restricted import of pulses like tur, moong and urad since August, 2017 with annual Quota Restriction of 5 lakh...
Custom Duty : Under section 14 of the Customs Act, 1962, Central Board of Indirect Taxes and Customs (CBIC) notifies the rate of exchange for th...
Custom Duty : Delhi High Court held that rejection of Merchandise Exports from India Scheme (MEIS) benefit merely because amended shipping bills...
DGFT : Delhi High Court grants MEIS benefits to JSW Steel Limited despite procedural errors in shipping bills. Detailed analysis of the j...
Custom Duty : Read the full text of the CESTAT Delhi order on C. L. International vs Commissioner of Customs. Analysis of mis-declaration of Mai...
DGFT : Petitioner’s intended to take benefit of MEIS scheme. Thus, error of not marking ‘Y’ against reward column is clearly an ina...
DGFT : Due to technical error or lacunae in electronic system, petitioner cannot be deprived of its benefit/incentive under MEIS - Madras...
Custom Duty : This Advisory is being issued to handle the post EGM amendment of shipping bill cases of MEIS scheme (since discontinued from Janu...
DGFT : MEIS and SEIS scheme have now been discontinued w.e.f. 01.01.2021 and 01.04.2020 respectively, and are on the verge of final closu...
DGFT : Extension of MEIS / Ad-hoc Incentive Scheme / ROSCTL / ROSL The last date for submitting applications under MEIS (for exports made...
DGFT : The last date of submitting applications under MEIS, SEIS, ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP...
DGFT : The last date of submitting applications under MEIS, SEIS, ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP...
Certain amendments/corrections have been made to Table 2 of Appendix 3B of FTP 2015-20 to align them with the ITC(HS) codes 2017 for exports made w.e.f. 01.01.2017.
It has come to notice of this Directorate that when exporters login into DGFT System for MEIS application, sometimes Shipping Bill data is not found available in DGFT System. It takes considerable time to get the SB data available in DGFT System and, therefore, availing of FTP benefits, like MEIS, by exporter is delayed.
A correction has been made in the MEIS Appendix 3B description in Entry no. 113. to align it with the ITC HS present at the time of the notification of Public Notice 02, dated 01.04.2015. This correction is in effect from 01.04.2015
As per FICCI Pre- Budget Memorandum 2018-2019 Few important conceptual issues below that need to be tackled on priority are Addressing tax abuse, Disallowances under section 14A, Grant of tax reliefs/concessions pursuant to proceedings under Insolvency and Bankruptcy Code, 2016, Reduce Compliance under GST – A way forward to simplified tax regime
While restoring the benefits under the export promotion schemes of duty free imports under Advanced Authorization, Export Promotion Capital Goods and 100% Export Oriented Units and thus resolving the problem of blocked working capital for exporters following the roll out of GST, the FTP review has focused on increasing the incentives for labour intensive MSME sectors.
Amendments have been made in the rates of reward for certain Sl.Nos of Table 2 of Appendix 3B of FTP 2015-20 for exports made w.e.f 01.11.2017 to 30.06.2018 and Table 3 specifying List of Ineligible categories for Duty Credit Scrip entitlement under MEIS.
GST RELATED REFORMS- GST has been launched w.e.f. 1.07.2017. It incorporates zero rating of exports. Taxes will not be exported. On the export of finished goods, there is an option of either obtaining refund of GST paid or getting exemption from payment of GST on submission of Letter of Undertaking/Bond.
The Foreign Trade Policy Statement explains the vision, goals and objectives underpinning the Foreign Trade Policy for the period 2015-2020, as updated through the mid-term review completed in December 2017. Keeping in the backdrop the global trade developments, it describes the market and product strategy, and the other measures required for export promotion and enhancement of the entire trade ecosystem.
GST Returns –Due date for filing specified returns extended- Notification Nos. 59-63/2017 –Central Tax, all dated 15-11-2017 have been issued for this purpose.
I am directed to refer to OM No. 01/61/180/68/AM15/PC-3 dated 23.11.2017 seeking additional allocation of Rs. 1143 15 Cr for FY 2017-18 and Rs 685.89 Cr for FY 2018-19 for increasing MEIS rate for ready made garments and textile made ups sector from 2% to 4%
