Vol. XIII Issue no.55
Chennai, Jul 30 , 2010
SHIS Scheme: ANF3E amended
New Delhi, July 30: The Director General of Foreign Trade introduced ANF3E Form in pursuance of the conditions for claiming Status Holders Incentive Scrip, with the insertion of paras 3.10.2 to 3.10.7, in the current Handbook of Procedures (Vol.1), vide Public Notice No.54 dated April 8, 2010.
No Advance Authorisation for Rough Granite import
New Delhi, July 30: The DGFT has included Rough Granite in the list of products where no advance authorization will be issued for import. The item now figures at Sl.No.(viii) in paragraph 4.7 of the Handbook of Procedures, 2009-14. Earlier, the DGFT had included rough marble block/
Refund of 4% CVD: Claims of cases further clarified
New Delhi, July 30: The refund of 4% CVD is admissible in terms of Notification No.102/2007–Customs dated 14.9.2007 read with Notification No.93/2008-Customs dated 1.8.2008 issued under Section 25(1) of the Customs Act, 1962 subject to fulfillment of certain conditions as envisaged
Customs exchange rate for August notified
New Delhi, July 29: The Ministry of Finance (CBEC) has issued Notification No. 67/2010-Cus (NT) dated July 28, 2010, giving the rate of exchange of conversion of each of the foreign currency into Indian currency or vice versa shall, with effect from 1st August, 2010.
DEPARTMENT OF REVENUEC
Goods imported for INDIPEX 2011 exempted
New Delhi, July 29: The Government has exempted goods, like used postage stamps, First Day covers, folding pocket magnifiers, when imported or sale in the ‘INDIPEX 2011’ which is an international philatelic exhibition to be held at New Delhi from the 12th February, 2011
HC stays order on Service Tax collection
Mumbai, July 28: The Bombay High Court has granted an interim stay on collection of Service Tax levied on buildings under construction, following a writ petition filed by the Maharashtra Chamber of Housing Industry (MCHI).
Mr Sunil Mantri, President, MCHI, said the chamber had urged the
Definitive ADD imposed on VSF
New Delhi, July 28: The Department of Revenue has imposed definitive anti-dumping duty on imports of Viscose Staple Fibre excluding Bamboo Fibre, originating or exported from PR of China and Indonesia and imported into India, based on the final findings of the Designated Authority. The
Provisional ADD imposed on PVC paste resin
New Delhi, July 28: The Ministry of Finance has imposed provisional anti-dumping duty (ADD) on imports of Poly Vinyl Chloride Paste Resin, falling under sub heading 3904 22 10 of CTA, originating in, or exported from, People’s Republic of China, Japan, Republic of Korea, Malaysia, Russia
Worn clothing import to be under watch
New Delhi, July 27: The Central Board of Excise and Customs has accepted the recommendation of the Committee on Petitions (Fourteenth Lok Sabha) that the increasing tendency of import of such worn clothing needs to be curbed. Accordingly, the Board has decided to reiterate that, be
Aseptic packaging paper classifiable under Heading 4811
New Delhi, July 26: The Central Board of Excise and Customs has clarified that “Aseptic packaging papers coated, impregnated or covered with plastics which are bleached, weighing more than 150 g/m2 “ are classifiable under the Tariff Item 4811 51 00 and those “Ase
Gems, jewellery exports up 75% in June
New Delhi, July 25: Gems and jewellery exports jumped 75 per cent to $3.08 billion in June on increasing demand from major markets like US and Europe, compared to $1.76 billion in the same month last fiscal, according to the Gems and Jewellery Export Promotion Council (GJEPC) data.
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India ranked 124th in economic freedom index
Mumbai, July 23: India is languishing down in the ‘Index of Economic Freedom 2010'. India is ranked 124th among 183 countries in the ‘Index of Economic Freedom 2010', prepared by The Heritage Foundation along with the Wall Street Journal. “While India does well in the governm
Kolkata Customs to tighten vigil on Nepal border
Kolkata, July 23: Customs authorities propose to step up surveillance along India's border with Nepal to check inflow of contraband goods and fake currencies, according to Mr S. Subramanian, Commissioner of Calcutta Customs. “Large containers on road trailers will be subject to tho
No service tax on T&D services prior to June 21
New Delhi, July 21: The Ministry of Finance has directed that service tax payable on taxable services relating to transmission and distribution of electricity provided by the service provider to the service receiver, which was not being levied in accordance with the said practice up to F
CBEC stresses need to clear unclaimed cargo
New Delhi, July 22: The Central Board of Excise and Customs has urged the field formations to constitute a ‘Task Force’ for a one-time comprehensive review of the list of all consignments indicated as uncleared / unclaimed by the respective custodians and match the same with
18 FDI proposals worth over Rs 2,245 cr approved
New Delhi, July 23: The government today approved 18 foreign investment proposals worth Rs 2,245.32 crore, with the major inflow being accounted for by Transcend Infrastructure for setting up communication and broadcasting towers business., entailing FDI inflow of Rs 1,932 crore.
Govt to take steps to cut exporters\' transaction cost
New Delhi, July 22: The government today said it has completed a study on measures to substantially reduce the transaction cost incurred by exporters to make them globally competitive. The study covered six sectors, including textiles, gems and jewellery, leather and garments
Petro products, alcohol and power are out of GST net
New Delhi, July 22: The Centre and the States have agreed to leave out alcohol, petroleum products and electricity duty out of the proposed Goods and Services Tax (GST) system. “Regarding taxation on alcohol, petroleum products such as petrol and diesel, and also electricity duty,
Levy of Clean Energy Cess clarified
New Delhi, July 22: It will be recalled that the Finance Minister had announced the imposition of Clean Energy Cess as a duty of excise on coal, lignite and peat, which came into for from July 1, 2010. The Ministry had also issued six notifications in this regard prescribing a statutory
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