Direct Investment by Residents in Joint Venture (JV)/Wholly Owned Subsidiary (WOS) Abroad”, as amended from time to time and Regulation 7 of the Notification FEMA 120/2004-RB, pertaining to provisions for an Indian Party (IP) making investment/ financial commitment in a
Case No. ADD-(OI)-15/2020 - Anti-dumping Investigation concerning imports of Acrylonitrile Butadiene Rubber (NBR) into India originating in or exported from China PR, European Union (EU), Japan and Russia
On a review, it has been decided to amend the MD on KYC to further leverage the Video based Customer Identification Process (V-CIP) and to simplify and rationalise the process of periodic updation of KYC.
Case No. ADD-OI-08/2020 Anti-dumping investigation concerning imports of ‘Plain Medium Density Fibre Board having thickness 6mm and above’ produced by M/s. Kim Tin MDF Joint Stock Company, Vietnam.
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 7th May, 2021, vide Notification No. 46/2021-Customs (N.T.), Dated: 6thMay, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 46/2021 – Customs (N.T.) New Delhi, dated the 6thMay, 2021 16 […]
We advise that the Lakshmi Vilas Bank Ltd has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from November 27, 2020 vide Notification DOR.PSBD.No.1849/16.01.067/2020-21 dated December 17, 2020, which is published in the Gazette of India (Part III - Section 4) dated January 16 – January 22, 2021.
Amendment to the Final Finding Notification No.15/05/2016-DGAD dated 02nd September, 2017 in Sunset Review investigation of Anti-dumping duty imposed on the imports of Certain Rubber Chemicals, namely, TDQ & PX-13 originating in or exported from the European Union and MOR and MBTS originating in or exported from the Peoples Republic of China.
Due to Covid RBI Regulated Entities are advised that in respect of the customer accounts where periodic updation of KYC is due and pending as on date, no restrictions on operations of such account shall be imposed till December 31, 2021, for this reason alone, unless warranted under instructions of any regulator/ enforcement agency/court of […]
Case No. SSR-21/2020 Sunset Review investigation concerning imports of ‘Methyl Acetoacetate’ originating in or exported from China PR.
Seeks to impose definitive anti-dumping duty on imports of Toluene Di-isocyanate (TDI) having isomer content in the ratio of 80:20, originating in or exported from European Union, Saudi Arabia, Chinese Taipei and UAE, for a period of 5 years from the date of imposition of provisional ADD, i.e. 2nd Dec, 2020 vide Notification No. 28/2021-Customs […]
Seeks to rescind the notification No. 43/2020-Customs(ADD) dated the 2nd December, 2020 vide Notification No. 27/2021-Customs (ADD) Dated: 27th April, 2021. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 27/2021-Customs (ADD) Dated: 27th April, 2021 G.S.R. 298(E).—In exercise of the powers conferred by sub-sections (2) and (5) of section 9A of the Customs […]
Customs field formations regularly make seizure/ commercial fraud cases. These cases are later on reported on a periodic basis on the DDM portal, though at times with delay and also informed through UO notes in important cases. Many of the cases made by the DRI/ Customs involve not only big seizures of prohibited goods or commercial frauds but at times assume larger importance due to involvement of foreign nationals, prominent persons, leading business houses or any other sensitive issue.
The Prime Minister chaired a meeting to review steps taken to boost oxygen availability in the country. The PM emphasized that there was an immediate need to augment the supply of medical grade oxygen as well as equipment required for patient care both at home and in hospitals. PM stressed that all ministries and departments need to work in synergy to increase availability of oxygen and medical supplies.
he Government of Tamil Nadu vide Gazette Notifications G.O.Ms. No.797 dated December 28, 2020 had notified the formation of a new district in the State of Tamil Nadu. It has been decided to assign the lead bank responsibility of the new district as under:
DHL Express India Pvt Ltd Vs Commissioner of Service Tax (Karnataka High Court) In the present case, duty of customs payable on the transaction in question under the statute is Rs.4,743/-, which has been admitted by the respondent and on account of erroneous calculation, the duty has been paid in excess to the tune of […]
Commissioner of Customs Vs Kamdar Global Solutions Pvt. Ltd. (CESTAT Chennai) It is noted that the goods were specifically imported for meeting the requirements during the pandemic. Drones were intended to be used for monitoring the public as to whether there is violation of the restrictions for travel and gathering of people. It is also […]
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 16th April, 2021, vide Notification No. 43/2021-Customs (N.T.), Dated: 15th April, 2021. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 43/2021-Customs (N.T.) New Delhi, dated the 15th April, 2021 In exercise of […]
CBIC imposes anti-dumping duty on imports of Normal Butanol or N-Butyl alcohol originating in or exported from European Union, Malaysia, Singapore, South Africa and United States of America for a further period of 5 years vide Notification No. 21/2021-Customs (ADD) Dated 12th April, 2021. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 21/2021-Customs […]
It has been decided to enhance the PSL limit for loans against NWRs/eNWRs from ₹50 lakh to ₹75 lakh per borrower. The PSL limit backed by the warehouse receipts other than NWR/eNWR will continue to be ₹50 lakh per borrower.
It has been decided to relax the above stipulation as a one-time measure. Accordingly, unutilised ECB proceeds drawn down on or before March 01, 2020 can be parked in term deposits with AD Category-I banks in India prospectively for an additional period up to March 01, 2022.