4 November 2016
Customs duties payable on import of goods in India can now be paid on fortnightly basis by specified Authorised Economic Operators - importers. New Rules namely, Deferred Payment of Import Duty Rules, 2016 have been issued by the Central Board of Excise and Customs (CBEC) on 2nd of November, 2016.
19 August 2016
Central Board of Excise and Customs (CBEC) has notified the effective date for operation of provisions regarding filing of specified revised returns under Central Excise Rules, 2002.
As per new sub-rules 12(8) and 17(7) inserted for this purpose, revised monthly return of production and removal of goods can be submitted...
17 November, 2015
Central Board of Excise and Customs (CBEC) has notified new All Industry Rates (AIR) of Duty Drawback which are effective from 23-11-2015, i.e. will be applicable on exports made from 23rd of November 2015. Further, Customs, Central Excise and Service Tax Drawback Rules, 1995 have been amended by Notification dated 16-11-2015 to...
14 January, 2015
Central Board of Excise and Customs has last month given some major relief to Indian exporters and importers in terms of procedures to be followed while making imports and exports. While Packing list is not mandatory now, benefit of exemption from bank guarantee has been made available to authorization holders who were penalized earlier. Benefit of ACP status has also been fu...
Service tax liability on the services agreed not to be provided and its interesting combinations with Point of Taxation Rules (POT Rules), is the topic of discussion in this months' "Tax Amicus". Central Board of Excise and Customs (CBEC) has also issued clarification on these Rules in relation to change in the rate of tax. In Central Excise, scrips issued under various duty credit schemes have...
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