Customs Duty

Breaking: Government Exempts All Customs Duty On Cotton Imports Till 30 September 2022

BUSINESS & ECONOMY / April 15, 2022 /

The Government has decided to exempt all customs duty on import of cotton to lower the price of cotton in the public interest. This exemption would benefit the textile chain- yarn, fabric, garments and made ups and provide relief to textile industry and consumers. Industry has been demanding for removal of 5% Basic Customs Duty …

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Government Fixes Tariff Value Of Some Imported Goods

Government Fixes Tariff Value Of Some Imported Goods

BUSINESS & ECONOMY / March 9, 2022 / , , ,

Notification No. 15/2022- Customs (N.T.) Dated 8th March 2022 The Government has fixed tariff value of imported goods: Crude Palm Oil RBD Palm Oil Others – Palm Oil Crude Palmolein RBD Palmolein Others – Palmolein Crude Soya bean Oil Brass Scrap (all grades) Gold (refer notification for detailed description) Silver (refer notification for detailed description) …

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Breaking: Government Rescinds Anti Dumping Duty On Colour Coated Steel

Breaking: Government Rescinds Anti Dumping Duty On Colour Coated Steel

GST / January 14, 2022 / , , ,

Vide Notification No. 2/2022- Customs (ADD), Dated 13th January 2022, Government has rescinded anti dumping duty on colour coated steel. The notification reads as under: In exercise of the powers conferred by sub sections (1) and (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 18 and 23 …

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Government Amends Customs Notification Number 36/2001 [Read Notification]

Government Amends Customs Notification Number 36/2001 [Read Notification]

BUSINESS & ECONOMY / January 2, 2022 / , ,

Notification Number 107/2021- Customs (N.T.), Dated 31st December 2021 In exercise of the powers conferred by sub section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient to do so, has made the amendments in the …

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Government Amends Customs Notification Number 45/2021 [Read Notification]

Government Amends Customs Notification Number 45/2021 [Read Notification]

BUSINESS & ECONOMY / January 2, 2022 / , ,

Notification Number 61/2021 (Customs), Dated 31st December 2021 In exercise of the powers conferred by sub section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of …

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Government Notifies Sea Cargo Manifest And Transhipment (Ninth Amendment) Regulations 2021

Government Notifies Sea Cargo Manifest And Transhipment (Ninth Amendment) Regulations 2021

BUSINESS & ECONOMY / January 2, 2022 / , ,

Vide Notification Number 109/2021- Customs (N.T.) Dated 31st December 2021, Government has notified Sea Cargo Manifest and Transhipment (Ninth Amendment) Regulations 2021 to amend the Sea Cargo Manifest and Transhipment Regulations 2018. In the said regulations, in regulation 15: In sub-regulation (2), for the words, figures and letters, “till 31st December 2021, 2021”, the words, …

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Government Amends Customs Notification Number 07/2020 [Read Notification]

Government Amends Customs Notification Number 07/2020 [Read Notification]

BUSINESS & ECONOMY / January 2, 2022 / , ,

Notification No. 108/2021- Customs (N.T.) Dated 31st December 2021 In exercise of the powers conferred by sub-section (2) of section 75 of the Customs Act, 1962 (52 of 1962) and sub-section (2) of section 37 of the Central Excise Act, 1944 (1 of 1944), read with rules 3 and 4 of the Customs and Central …

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Revised Income Tax Slab Rates and changes in Budget 2023

Government Invites Suggestions For Union Budget 2022-23

BUSINESS & ECONOMY / November 2, 2021 / , , , ,

Tax Research Unit of Department of Revenue, Ministry of Finance has issued a circular in which it has invited suggestions from trade and industry for the Union Budget 2022-23 which can be forwarded till 15th November 2021. The department says, suggestions related to Income Tax, Customs and Central Excise will be examined as part of …

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CBIC ABOLISHES LICENCE RENEWAL REQUIREMENT FOR CUSTOMS BROKERS, AUTHORISED CARRIERS

TC / By / July 25, 2021 / , , , ,

CBIC ABOLISHES LICENCE RENEWAL REQUIREMENT FOR CUSTOMS BROKERS, AUTHORISED CARRIERS The Central Board of Indirect Taxes and Customs (CBIC) has w.e.f. 23.07.2021 abolished the requirement of periodic renewals of Licence/Registration issued to Customs Brokers and Authorised Carriers. This would greatly help reduce the compliance burden cast on the trade, which had to otherwise make application …

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The Customs (Verification of Identity and Compliance) Regulations, 2021

TC / By / April 7, 2021 / ,

The Customs (Verification of Identity and Compliance) Regulations, 2021 MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) vide Notification No. 41/2021-Customs (N.T.) dated 05th April, 2021 had notified the Customs (Verification of Identity and Compliance) Regulations, 2021 in exercise of the powers conferred by section 99B read with section 157 …

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