Search Result for : Customs Duty

The Dollar Business Bureau The apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM), in its pre-budget recommendations, urged the Government to levy a 10% customs duty on hardwood chemical pulp and bleached chemi-thermo mechanical pulp (BCTMP) imports in order to promote production of pulp in the country. The industry said that this would provide a fillip in creating jobs and support overall economic development of the country’s vast rural hinterland which covers pulpwood plantations. “These measures would help energise creation of sustainable sources of fibre required by Indian pulp and paper industry,” ASSOCHAM said in a statement on Tuesday. It also asked for policy measures for facilitating participation of private sector in plantation development programmes. As per estimates, India imports more ...

 Dated 21st December, 2017 | Copy of |Customs Circular No.52/2017   F.No:450/08/2015-Cus.IV Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi ** ** ** To, All Principal Chief Commissioners of Customs/Customs (Prev.). All Chief Commissioners of Customs/Customs (Prev.). All Principal Commissioners of Customs/Customs (Prev.). All Commissioner of Customs of Customs/Customs (Prev.). Implementing Electronic Sealing for Containers by exporters under self-sealing procedure by Circular 26/2017-Cus dated 01.07.2017, 36/2017 dated 28.08.2017, 37/2017 dated 20.09.2017, 41/2017 dated 30-10-2017 and 44/2017 dated 18-11-2017.-reg. The Board has received representations from field formations and other stakeholders for relaxing the requirement for mandatory e-sealing in view of insufficient stock of e-seals with the empaneled vendors. 2. Taking this into ...

Dated 14th December, 2017 | Copy of | Notification No.115/2017-Customs   In exercise of the powers conferred by clause (34) of section 2 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.40/2012-Customs (N.T.), dated the 2nd May, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O.993(E), dated the 2nd May, 2012, namely:- In the said notification, in the Table.- (i) against serial number 4, in column (3) after item (ii), the following item shall be inserted, namely:-   (ii) after serial number 7 and the entries ...

Dated 14th December, 2017 | Copy of | Notification No.114/2017-Customs In exercise of the powers conferred by sections 108A read with section 156 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following rules, namely:- 1. Short title and commencement. - (1) These rules may be called the Customs (Furnishing of Information) Rules, 2017. (2) They shall come into force from the 1st day of January, 2018. 2. Definition. - (1) In these rules unless the context otherwise requires. - (a) “authorised person” means any person authorised by the class of person referred to in column (2) of the Table given in rule 3: (b) “Information-Administrator” means the proper officer specified by ...

The Dollar Business Bureau The Government has raised the import duty on nearly all the edible oils in a bid to control cheap imports and to boost domestic prices to support the local refiners and farmers.  “Import duty on crude palm oil has been increased to 30% from 15% and on refined oil to 40% from 25%,” according to notification (No.87/2017-customs), issued by the Department of Revenue, Ministry of Finance. Import duty on sunflower oils, soyabean oil, canola/mustard oils, including crude as well as refined format, has been increased, the notification said. The basic custom duty on crude palm oil has been doubled to 30%, whereas the import duty on refined crude palm oil been raised to 40% from the current 25%, it said. In addition, ...

The Dollar Business Bureau The Ministry of Finance has issued a circular notifying that importers who are registered under the Authorised Economic Operator Programme (AEO) and those importers who pay import duty more than ten thousand rupees per bill of entry should do so electronically. As per the Customs notification no- 80/2017 dated Aug 17, 2017, the Central Government has made it mandatory for the classes of importers who should pay customs duty electronically, namely: (i) importers registered under Authorised Economic Operator Programme; and (ii) importers paying customs duty of ten thousand rupees or more per bill of entry. 2.  This notification shall come into force with effect from September 1 of 2017. As a part of the ease of doing business focus of the Government ...

The Dollar Business Bureau Engineering Export Promotion Council (EEPC) of India said on Monday that after the implementation of Goods and Services Tax (GST), shipping companies are facing problems as their refunds for drawback will not be issued till end of September or October. In addition, the supply of goods from domestic tariff zones (DTZs) to export-oriented units (EOUs) are not taken as ‘deemed exports’ under the new tax regime, which resulted in denying duty free imports of inputs under the Government’s scheme of Advance Authorisation, EEPC said in a statement. Moreover, the exporters will be paying basic customs duty, Integrated GST and cesses for the goods imported that are used for supply to EOUs. The exporters are entitled for input tax credit of IGST only. The basic ...

The Dollar Business Bureau The government has levied a customs duty of 10% on the imports of static converter for cellular mobile phones such as USB cables. Until now, these goods were exempted from the purview of basic customs duty. The term 'static converter for cellular mobile phones' is used for phone charging cables that can be used for accessing and transferring handset data to a laptop, computer, tablet or TV. The Revenue Department, in a notification (no.67/2017-Customs, dated July 14, 2017), said, “The Central Government, on being satisfied that it is necessary in the public interest so to do, hereby amends that……exempt goods would include “static converters for automatic data processing machines and units thereof, and telecommunication apparatus, other than static converters ...