Vol. XIII Issue no.55
Chennai, Sep 5 , 2010
Standing Order cannot determine the assessable value under Customs: HC
Mumbai, September 3: Throwing the ratio laid down by various judicial fora, including the Apex court of the country, as to how to arrive at the assessable value of the imported goods, the Bangalore Customs quantified the duty payable by Lifestyle International Private Ltd on their import
SRTEPC can also certify value of made-up exports
New Delhi, September 4: The Ministry of Finance has stated that the importer of items specified in Sl.No. 167B of the Table annexed to Exemption Notification No. 21/2002-Customs can get a certificate also from Synthetic & Rayon Textiles Export Corporation certifying the value of exports in
Notification No. 88/2010
MINISTRY OF FINANCE (DEPARTMENT OF REVENUE)Notification No. 88/2010-Customs dated the 1st September, 2010
G.S.R. 717 (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the
Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessa
No duty on warehoused hides when exported
New Delhi, September 4: The Ministry of Finance has exempted exempts imported raw hides and skins and semi-processed leathers falling under Heading No. 14 of the Second Schedule to the Customs Tariff Act, 1975 (51 of 1975), when exported out of India from a bonded warehouse where it has been k
Duty exempted on specified goods from Myanmar
New Delhi, September 4: The Ministry of Finance has included Myanmar as one of the countries in Notification No. 153/2009-Customs, goods from which would be exempted from so much of the duty of customs leviable thereon as is in excess of the amount calculated in Annexure I appended there
DDA lands in soup over Rs 758-cr service tax dues
New Delhi, September 3: The service tax wing of Central Board of Excise and Customs (CBEC) has issued a demand-cum-show cause notice to the Delhi Development Authority (DDA) asking it why it has failed to pay over Rs 757 crore tax on two services—renting of immovable property and club or ass
Customs notifications aligned to FTP
New Delhi, September 3: The Department of Revenue has aligned the notifications in respect of Served From India Scheme (SFIS), VKGUY and Duty Free Import Authorisation (DFIA) Scheme consequent to the announcement of the Foreign Trade Policy announced on August 23, vide Notification No.90
Customs tax mop-up for 3 Mumbai zones at 79.5%’
Mumbai, September 2: Customs revenue collection in three Mumbai Zones for April to July period registered a 79.5% average growth compared with the collection during the corresponding period last fiscal, finance minister Pranab Mukherjee said on Wednesday.
“There has been buoyancy in cen
No sugar export against raw sugar imported in 2009
New Delhi, September 2: The Directorate of Sugar, Ministry of Consumer Affairs, Food and Public Distribution, has requested that no export of sugar should be permitted against raw sugar imported under the Advance Authorization Scheme from 17.2.2009 to 30.9.2009 without the release order
Tariff value of Brass scrap import revised
New Delhi, September 2: The Central Board of Excise and Customs has revised the tariff value on brass scrap (all grades), when imported into India, to $ 3924 per metric tonne, vide Notification No. 78/2010-Cus (NT) dated August 31, 2010.
Ministry of Finance (Department of Revenue)(Central
Naphtha import permitted for export of Propylene
New Delhi, September 1: The DGFT has included a new product ‘Propylene’ as an export product and has been included at Sl.No. A-3639 under Chemical & Allied Products Group in the Handbook of Procedures (Vol.II) and has fixed Standard Input Output Norms (SION) for the same.
DGFT grants exemption to specific goods imported for CWG
New Delhi, September 1: The Director General of Foreign Trade has granted exemption from DGFT import authorization for import of arms and ammunition for the purpose of participation in the Commonwealth Games (CWG), 2010, by the Commonwealth Games Federation Members or Commonwealth Games
ADD on Acrylic Fibre imports continued
New Delhi, September 1: The Ministry of Finance has decided to continue imposition of anti-dumping duty (ADD) on imports of Acrylic Fibre, originating in, or exported from, the Japan and Belarus, and imported into India, following a review by the Designated Authority in its final findings rele
Ports told to up cargo capacity
New Delhi, August 31: The government on Monday asked management of all ports in the country to increase their cargo handling capacity in order to meet the growing demands of the economy.
Indian ports currently have a capacity of close to 900 million tonnes (MT) and major ports account f
Import of goods for CWG further clarified
New Delhi, August 31: The Central Board of Excise and Customs has clarified that suppliers / contractors / vendors or sub vendors of OC, CWG, the Prasar Bharti or of the broadcasting right holders will also be eligible for benefit of the said Notification i.e. Notification No. 13/2010-Customs
NOTIFICATION NO. 03 (RE-2010)/2009-2014
MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE NOTIFICATION NO. 03 (RE-2010)/2009-2014 DATED THE 30th AUGUST, 2010
Subject: Prohibition on Export of Non-basmati Rice – exemption for export to Bangladesh- regarding
Govt allows export of rice and wheat to B’desh
New Delhi, August 31: The Director General of Foreign Trade has permitted export of 3 lakh tonnes of non-basmati rice (parboiled) and 2 lakh tonnes of wheat to Bangladesh, vide Notification Nos. 3 and 4 (RE-2010), both dated August 30, 2010. The said quantities have been apportioned betw
Elastomeric yarn not subjected to ADD
New Delhi, August 31: The Central Board of Excise and Customs has clarified that the anti-dumping duty (ADD) imposed vide Notification No. 15/2007-Cus dated February 20, 2007, would not apply to import of Spandex Yarn (Elastomeric yarn). This clarification, vide Circular No. 30/2010-Cust
Absent-minded professorship will not lift the nation
The practice of expecting the national Budget on the last working day of February and the foreign trade policy announcement on first of April every year had brought in a rhythm in the financial and commercial activities of the nation. The budget presentation of the ensuing year is not advanced
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