Rs. 653 Crores Customs Duty Evasion: Show Cause Notice to ‘Xiaomi India’
DRI has issued three show cause notices to Xiaomi India, demanding short paid duty of Rs. 653 crore on imported mobile phones during the period 01/04/2017 to 30/06/2020, for …
Category: ExIm
RBI extends Pre/ Post Shipment Export Credit/ Advance Period from 12 to 15 Months
RBI has notified extension of Period of Advance from 12 months to 15 months in the case of all Pre/ Post Shipment Export Credits disbursed upto 31 July 2020, …
Comprehensive Relief Package for Compliance Deadlines announce by Govt. (COVID-19)
Govt. announces comprehensive relief package for routine/ year end closing compliance and filing deadlines, to avoid penal consequences for taxpayers/ businessman who are already facing stress of COVID-19. GOI …
Revised Duty Drawback (DBK) Rates Schedule (2020) notified by CBIC
CBIC notifies the Revised All Industry Duty Drawback (DBK) Rates Schedule (2020), applicable w.e.f. 04/02/2020, vide Notification 7/2020 Customs (NT) dt. 28/01/2020, in respect of specified exports and subject …
DIN to be quoted on all GST/ Customs Communications from 08/11/2019, CBIC Instructs Officers
CBIC has issued instructions Circular on the procedure to be followed for generation and quoting of Document identification Number (DIN) on all GST/ Customs communication with Taxpayers and concerned …
Revised Procedure for IGST Refunds to Exporters
CBIC has issued Circular No. 16/2019 Customs dt. 17/06/2019 to modify the automated process for claiming IGST refunds by Exporters. Now all risky/ suspicious exporters will face a verification/ …
Govt. Imposes 200% Customs Duty on Imports from Pakistan: CBIC Notification
CBIC has notified that Govt. has imposed basic custom duty of 200% on all imports from Pakistan by inserting a new tariff item ‘9806 00 00’ in chapter 98 …
IGST refund not Allowed to Exporters after claiming benefit of higher duty drawback rate: CBIC Clarification
CBIC has clarified that where exporters have opted/ preferred to take drawback at higher rate in place of IGST refund for the period 01/07/2017 to 30/09/2017, there is no …
‘Cost Accountants’ Authorised by CBIC to Certify ‘IGST Refund Claims’ of Exporters
CBIC has authorised the ‘Cost Accountants’ to certify the ‘IGST Refund Claims’ of Exporters whose records were not transmitted from GSTN to Customs due to mismatch in GSTR 1 …
‘Custom Duty/ IGST Exemption’ for ‘Kerala Flood Relief Imports’, notified by CBIC/ Govt.
CBIC/ Central Govt. has notified exemption from ‘Basic Custom Duty (BCD) and Integrated Goods and Services Tax (IGST)’ for ‘Kerala Flood Relief Imports’ (Materials/ Consignments despatched/ imported from abroad), …
