Vol. XIII Issue no.55
Chennai, Jan 28 , 2012
Final ADD imposed on Chinese geostrips/geostraps made of glass fibre
New Delhi, January 25: The Ministry of Finance has levied definitive anti-dumping duty on import of Geogrid/Geostrips/ Geostraps made of polyester or Glass fiber in all its forms (including all widths and lengths) from China, vide Notification No. 11/2012-Customs
Definitive ADD on Morpholine imposed
New Delhi, January 25: The Central Government has imposed definitive anti-dumping duty on Morpholine, originating in, or exported from, China PR, European Union and the United States of America, and imported into India, vide Notification No. 10/2012-Customs (ADD) dated January 24, 2
CBEC announces Republic Day Awards for distinguished service
New Delhi, January 24: The Ministry of Finance has issued Notification No. 7/2012-Customs (NT) dated January 24, 2012, awarding Appreciation certificates to officers/staff in various cadres under the Central Board of Excise and Customs. The Press Note issued on this occasion
Refund of Anti-dumping duty excess paid rules notified
New Delhi, January 21: The Government has brought into force Refund of Anti-Dumping Duty (Paid in Excess of Actual Margin of Dumping) Rules, 2012, as per Notification No. 5/2012-Customs (NT) dated January 19, 2012.
According to the rules, where an importer has paid any anti-dumping
Safeguard duty imposed on Phthalic anhydride
New Delhi, January 18: The Government of India has imposed safeguard duty on Phthalic anhydride, falling under tariff item 2917 35 00 of the Customs Tariff Act, when imported into India, a safeguard duty at the rate of 10% ad valorem, vide Notification No. 1/2012-Customs (SG)
Use of re-credited SAD extended up to March end
New Delhi, January 17: The Central Board of Excise and Customs has decided to extend time limit for using re-credited DEPB scrips/ Reward Scheme scrips in case of 4% CVD (SAD) upto 31.03.2012. No further extension shall be given under any circumstances, the Board has stated in its
Gold and Silver now brought under Tariff Value
New Delhi, January 17: The Government has decided to bring Gold and silver in any form under Tariff Value regime, along with palm group of oils, brass scrap and poppy seeds specified under Notification No.36/2001-Cus (NT). The two items have been inserted at Sl.Nos. 10 and 11 in th
India's forex reserves slump by $3.14 billion
Mumbai, January 16: India's foreign exchange reserves slumped by $3.14 billion to $293.54 billion in the first week of 2012, the lowest level in almost 15 months, largely due to revaluation of non-dollar assets and sale of dollars by the central bank to curb the rupee's slide.
The forex
ADD on Chinese Saccharin continued
New Delhi, January 14: The Ministry of Finance has extended the levy of anti-dumping duty on imports of Saccharin, originating or exported from PR of China, vide Notification No. 7/2012-Customs (ADD) dated January 13, 2012. The rate of the said duty on the subject goods, when impor
Exports to Nepal put on par with other countries from March
New Delhi, January 14: The Ministry of Finance has abolished the existing DRP for exports to Nepal and puts export to Nepal at par with exports to other countries (except Bhutan).
In this connection, the CBEC has issued Circular No. 958/1/2012-CX dated January 13, 2012.
Tariff value of Brass scrap and poppy seeds revised
New Delhi, January 14: The Central Board of Excise and Customs has notified the periodical revision in the Tariff Value of brass scrap (all grades) and poppy seeds, vide Notification No. 2/2012-Cus (NT) dated January 13, 2012. Accordingly, the tariff value now fixed for brass scrap
Benefit granted for export of cotton yarn under DEPB scrip
New Delhi, January 13: The Directorate General of Foreign Trade has clarified that exports made under the “EPCG Shipping Bills” for “Cotton yarn including Melange yarn” from 01.04.2011 to 04.08.2011 and ‘Cotton’ from 01.10.2010 to 04.08.2011 would be e
Only raw sugar allowed for export to USA under TRQ
New Delhi, January 13: The DGFT has issued Public Notice No.91 to state that 8,300 MTs of raw cane sugar is permitted to be exported to USA under TRQ by M/s. Indian Sugar Exim Corporation Ltd. It is not white sugar as mentioned in Public Notice No. 90 (RE-2010)/2009-2014 dated 6.1.2012.
India to provide $100 million credit line to Mali
New Delhi, January 11: India will provide a line of credit worth $100 million (about Rs 520 crore) to Mali for helping the western African nation to expand its energy sector.
The agreement for the financial assistance to Mali was signed here today between Exim Bank's Chairman and Managi
Onion export price slashed
New Delhi, January 11: The Government today lowered the minimum export price of onion by $100 a tonne to $150 to boost outbound shipments that have declined.
Minimum Export Price (MEP) of all varieties of onions except Bangalore Rose Onions and Krishnapuram Onions will be US$ 150 per Metric T
Manufacturing drives IIP growth up 5.9% in Nov
New Delhi, January 12: Led by a recovery in manufacturing output, industrial production grew 5.9 per cent in November 2011, after witnessing a contraction in the previous month, a development that may reverse the negative sentiment amid an economic slowdown.
Factory output, as measured
Date of submission of return of service tax extended
New Delhi, January 10: The Central Board of Excise and Customs has extended the date of submission of half yearly return for the period April 2011 to September 2011, from 6th January 2012 to 20th January 2012. This is being done in view of the fact that assessees ar
ADD on Caustic Soda extended by a year
New Delhi, January 9: The Ministry of Finance has extended the levy of anti-dumping duty (ADD) on caustic soda imports, originating in, or exported from, Saudi Arabia, Iran, Japan, USA and France, when imported into India, vide Notification No. 1/2012-Customs (ADD) dated January 6, 2012.
No permission required for supply of SCOMET items from DTA to SEZ
New Delhi, January 8: The Director General of Foreign Trade has stated that no export permission is required for supply of SCOMET items from DTA to SEZ. However, all supplies of SCOMET items from DTA to SEZ will be reported to the Development Commissioner of the respective SEZ by t
