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 : CESTAT Mumbai ruled that Education Cess and Secondary & Higher Education Cess paid through MEIS duty credit scrips for past import...
Income Tax : The Tribunal held that weighted deduction under Section 35(2AB) cannot exceed the amount certified by DSIR after the 2016 amendmen...
Corporate Law : Supreme Court held that once exports are genuine and fall within the notified category, inadvertent mistakes of procedure cannot b...
Custom Duty : Conversion of MEIS shipping bills to the DEPB scheme was permissible where bills not ‘free shipping bills as the scale of examin...
DGFT : Madras High Court held that the Merchandise Exports Incentive Scheme (MEIS) scrip can be cancelled even if the scrips are availed ...
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...
Applicant shall file separate application for each port of export in case of Non EDI Shipping bills. In case of EDI shipping bills, the applicant can file a single application containing shipping bills of different EDI ports. Accordingly shipments from different EDI ports will not require separate applications.
The procedure for declaration of intent in Paragraph 3.14(a) of the Handbook of Procedures 201 5-20 for EDI is simplified. The marking of tick in pursuance of the earlier Public Notice No.47, dated 8th December 2015 shall be treated as declaration of intent in case of EDI shipping bills. The marking of tick in the appropriate tick boxes are mandatory in EDI shipping bills.
Amendments in Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B under the Merchandise Exports India Scheme (MEIS) are notified. MEIS Scheme covers 5012 lines. 2787 lines required submission of proof of landing as reward was not available for all markers. Henceforth, Landing Certificate shall not be required under MEIS.
It has been brought to the notice of this Directorate that some exporters are classifying the item Tamarind Kernel Powder under ITC(HS) Code 11063010 and claiming MEIS benefit. It is clarified that the correct ITC(HS) Code of Tamarind Kernel Powder is 13023290 on which MEIS benefit is not available.
e-commerce means buying and selling of goods and services including digital products, conducted over digital and electronic network. For the purposes of merchandise Exports from India Scheme (MEIS) e-commerce shall mean the export of goods hosted on a website accessible through the internet to a purchaser.
Instances of unscrupulous persons being able to put to use non-genuine transferable duty credit scrips or duty free import authorizations (purported to relate to chapters 3/5 or 4, respectively, of the respective Foreign Trade Policy) have been noticed in the field formations.
In a tri-partite construction business model, there are 3 parties involved viz. the land owner, the builder/developer and the contractor.Typically, in such a model, the land owner enters into an agreement with the builder,whereby, the land owner gives either land/development rights (to construct/develop a residential complex and sell flats/houses of such complex to buyers) to the builder.
Trade Notice No. 14/2015 In continuation of Trade Notice No. 12/2015 dated 13.01.2016, stressing the need to maintain absolute integrity and transparency in the functioning of all DGFT offices, attention is drawn to the fact that DGFT is moving towards an IT enabled paperless and personal contact free environment to achieve these objectives in a more comprehensive and complete manner.
In order to address this anomaly, in exercise of powers conferred under paragraph 1.03 read with paragraph 2.04 of the Foreign Trade Policy 2015-2020, the entry “Panama” at Serial No.50 under Country Group-C of Table 1 of Appendix 3BMEIS Schedule notified.
Subsequently representations have been received from exporters and trade & industry that such procedure should also be made applicable to exports made beyond 05.2015.
