Online filling and Issuance of Preferential Certificate of Origin under India Korea Comprehensive Economic Partnership Agreement (IKCEPA) for India’s Exports to Republic of Korea w.e.f. 06th March 2020.
Due to ongoing shutdown in China on account of Corona virus outbreak, there is an apprehension of disruption in supply of raw materials/ inputs to our industrial units which were dependent on these raw materials. There could also be a dip in offtake in exports to China. On the contrary, there is a strong likelihood of an immediate surge in the imports from and export to China once the spread of the virus is brought fully under control.
One-time relaxation for submission of hard copy of applications for claiming assistance under ‘Transport and Marketing Assistance (TMA) for Specified Agriculture Products’ Scheme.
It is clarified that MIP on Cashew Kernels (HS codes 0801 3210 and 0801 3220) is not applicable for imports by 100% Export Oriented Units (EOUs) and units in the SEZs.
Is there any difference in tariff or customs preferences if the wholly obtained (WO) criteria is used instead of the product specific rule (PSR)? No, the tariff or customs duty preferences are the same i.e either tariff elimination if the product is non-sensitive and tariff reduction if the product is sensitive irrespective of whether the criteria is WO or PSR.
One-time permission for resubmission of applications for claiming assistance under `Transport and Marketing Assistance (TMA) for Specified Agriculture Products’ Scheme.
Manual filing of Appeal Applications, is being replaced by online automated filing of Appeal Applications under VAT and CST Act. After the Go Live of Assessment Module, Appeal Module is being rolled out.
Vide Trade Notice No. 46/2019 dated 17.01.2020 members of the Trade and Industry were advised to suggest appropriate HS codes for goods they are importing under ‘Others’ category where the existing HS codes are not sufficient.
It is advised that All importers should file their Bills of Entry with specific codes available for the imported items under ITC(HS), 2017, Schedule — I (Import Policy) at 8 digit level, and to avoid as far as possible ‘Others’ category.
Reference is invited to Trade Notice No. 44/2019-20 dated 26.12.2019. In this regard it is informed that in the said Trade Notice due to typographical error in Para 2 it was mentioned ‘millers/ traders’. It is clarified that the same may be read as ‘millers/ refiners’.
