Blog Archives

Clarification on Customs & Central Excise notifications related to EOUs

EOU/EHTP/STP/BTP schemes are governed by Chapter 6 of Foreign Trade Policy (FTP), duly supported by the relevant Customs and Central Excise notifications. These notifications have now been amended in order to align them with the present Foreign Trade Policy (FTP), 2015-2020, as amended, as well as to remove redundancies that had crept in over the time on account of changes/supersession of certain other notifications mentioned therein and legal developments such as the introduction of GST and exempting the EOUs from the application of the Customs warehousing provisions.

Customs Rate of Exchange of Foreign Currency wef 07.12.2018

Customs Rate of Exchange of Foreign Currency Conversion wef 07.12.2018 notified vide Notification No. 96/2018 – Customs (N.T.) dated 6th December, 2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 96/2018-Customs (N.T.) New Delhi, dated the 6th December, 2018 In exercise of the powers […]

Revised All Industry Duty Drawback Rates applicable from 19 Dec. 2018

CBIC notifies Revised All Industry Duty Drawback Rates Schedule applicable w.e.f. 19 Dec. 2018, vide Notification No. 95/2018 Customs (NT) dt. 6 Dec. 2018 Government Of India Ministry Of Finance (Department Of Revenue) Notification No. 95/2018-CUSTOMS (N.T.) New Delhi, the 6 December, 2018 G.S.R. (E). – In exercise of the powers conferred by sub-section (2) […]

IGST Refund when refund scroll generated for a much lesser IGST

CBIC has been receiving representations where the refund scroll has been generated for a much lesser IGST amount than what has actually been paid against the exported goods. Broadly, this has happened due to: a Error made by the exporter/CHA in declaring the IGST paid amount in SB or,

Prepaid Payment Instruments (PPIs) – Guidelines for Interoperability

Interoperability is the technical compatibility that enables a payment system to be used in conjunction with other payment systems. Interoperability allows PPI Issuers, System Providers and System Participants in different systems to undertake, clear and settle payment transactions across systems without participating in multiple systems.

Customs Rate of Exchange of Foreign Currency Conversion wef 19.10.2018

Customs Rate of Exchange of Foreign Currency Conversion wef 19.10.2018 notified vide Notification No. 87/2018 – Customs (N.T.) dated 18th October, 2018 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 87/2018 – Customs (N.T.) New Delhi, dated the 18th October, 2018 26 Asvina 1940 […]

Reward scheme for informers of GST / Custom Duty evasion amended

Consequent to the introduction of GST, a need was felt to include recovery in cases under CGST and IGST Acts under the Reward Guidelines to ensure their parity with cases booked under the Customs Act, NDPS Act, Service Tax and Central Excise References were also received in the Board to treat officers of other Government agencies, who play a role in the detection of cases, at par with CBIC officers, irrespective of the fact whether seizure has been effected by these agencies or by officials of CBIC.

Reward scheme for informers of GST / Custom Duty evasion amended

Consequent to the introduction of GST, a need was felt to include recovery in cases under CGST and IGST Acts under the Reward Guidelines to ensure their parity with cases booked under the Customs Act, NDPS Act, Service Tax and Central Excise References were also received in the Board to treat officers of other Government agencies, who play a role in the detection of cases, at par with CBIC officers, irrespective of the fact whether seizure has been effected by these agencies or by officials of CBIC.

Anti-dumping duty on imports of Flat Base Steel Wheels from China

seeks to impose definitive anti-dumping duty on the imports of “Flat Base Steel Wheels” originating in or exported from China PR for a period of 5 years at prescribed rates vide Notification No. 46/2018-Customs (ADD) dated 13th September, 2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE Notification No. 46/2018-Customs (ADD) New Delhi, the […]

Notification No. 45/2018-Customs (ADD)- Dated 13.09.2018

CBIC rescinds notification No. 3/2013-Customs (ADD) dated 26.03.2013 vide Notification No. 45/2018-Customs (ADD) Dated 13th September, 2018. Government of India Ministry of Finance Department of Revenue New Delhi Notification No. 45/2018-Customs (ADD) Dated; 13th September, 2018 G.S.R. (E).- In exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs […]