Taxation - Corporate Law Reporter

Refund/Claim of Countervailing duty as Duty Drawback

Circular No. 49/2017-Cus F.No.609/97/2017-DBK Government of India Department of Revenue Central Board of Excise & Customs Drawback Division New Delhi, the 12th December, 2017 To Principal Chief Commissioners/ Principal Directors General, Chief Commissioners/ Directors General, Principal Commissioners and Commissioners, all under CBEC. Sir/Madam, Subject: Refund/Claim of Countervailing duty as Duty Drawback. Attention is invited to… Read More

Direct Tax Collections for Financial Year 2017-18 show Growth of 14.4% upto November, 2017

The provisional figures of Direct Tax collections up to November, 2017 show that net collections are at Rs. 4.8 lakh crore which is 14.4% higher than the net collections for the corresponding period of last year. The Net Direct Tax collections represent 49% of the total Budget Estimates of Direct Taxes for the Financial Year. 2017-18 (Rs. 9.8 lakh crore). Gross… Read More

DRI Strikes Against Black Money – Recovers about Rs.50 Crores of Demonetized Currency

Sleuths of the Directorate of Revenue Intelligence (DRI), a pioneer Intelligence Agency of the Government of India, zeroed in on an office premises at Bharuch in Gujarat State and recovered about Rs. 48.91 crores of demonetised currency in Rs. 500 and Rs.1,000 denomination currency notes. Acting on the specific intelligence, the officers of DRI, Surat, … Read More

Govt. notifies exchange rate of foreign currency relating to Import and Export effective from 8.12.2017

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 113 /2017 - Customs (N.T.) New Delhi, dated the 7th December, 2017 16 Agrahayana 1939 (SAKA) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the… Read More

Drawing of samples for the purpose of grant of drawback (Circular 47/2017- Customs dated 27.11.2017

OFFICE OF COMMISSIONER OF CUSTOMS NS-II & IV JAWAHAR LAL NEHRU CUSTOM HOUSE, NHAVA SHEVA TAL: URAN, DIST. RAIGAD, MAHARASHTRA-400707 F.No.S/12-Gen-82/2015-16 AM(X) Date: 04.12.2017 PUBLIC NOTICE NO.153 /2017 SUB : Drawing of samples for the purpose of grant of drawback (Circular 47/2017- Customs dated 27.11.2017 –reg. Attention of the Exporters, Custom Brokers and all concerned… Read More

Export Policy of Onions- Imposition of Minimum Export Price (MEP)

OFFICE OF COMMISSIONER OF CUSTOMS NS- IV JAWAHAR LAL NEHRU CUSTOM HOUSE, NHAVA SHEVA TAL: URAN, DIST. RAIGAD, MAHARASHTRA-400707 F.No.S/12-Gen-82/2015-16 AM(X)(Part File) Date: 04.12.2017 PUBLIC NOTICE NO. 152 /2017 Subject: Export Policy of Onions- Imposition of Minimum Export Price (MEP). Attention of the Exporters, Custom Brokers, other members from trade & industries and all concerned… Read More

Clarification on payment of SAD refund on imports prior to 1st July and sales of imported goods after1st July

OFFICE OF THE COMMISSIONER OF CUSTOMS (IMPORT) JAWAHARLAL NEHRU CUSTOM HOUSE, NHAVA SHEVA. F.No. S/12-Misc-35/2017-18 CRC (SAD-I) NS-III Date : 04/12/2017 PUBLIC NOTICE NO. 151/2017 Subject: Clarification regarding payment of SAD refund when the import has taken place prior to 1st July, 2017 (i.e. SAD on import has been paid prior to 1st July) and… Read More

CBDT signs two Indian Advance Pricing Agreements (APAs) in November, 2017

The Central Board of Direct Taxes (CBDT) has entered into 2 Bilateral Advance Pricing Agreements (APAs) during the month of November, 2017. These Agreements are the first ever Bilateral APAs with The Netherlands. With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 186. This… Read More

Govt. amends notification No. 56/2000-Customs, dated the 5th May, 2000

MINISTRY OF FINANCE (Department of Revenue ) (CENTRAL BOARD OF EXCISE AND CUSTOMS) NOTIFICATION New Delhi, the 27th November, 2017 No. 90 /2017-Customs G.S.R. 1450(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, being satisfied that it is necessary in the… Read More

CBEC relaxes norms for Electronic Sealing of containers by exporters till 15th December, 2017

OFFICE OF COMMISSIONER OF CUSTOMS NS-II & IV JAWAHAR LAL NEHRU CUSTOM HOUSE, NHAVA SHEVA TAL: URAN, DIST. RAIGAD, MAHARASHTRA-400707 F.No.S/12-Gen-82/2015-16 AM(X) Date: 27.11.2017 PUBLIC NOTICE NO. 150/2017 SUB : Implementing Electronic Sealing for containers by exporters under self sealing procedure by circular 26/2017-Customs dated 01.07.2017, 36/2017 dated 28.08.2017, 37/2017 dated 20.09.2017 and 41/2017 dated… Read More

Clarification of India’s position on the acceptance of MAP and bilateral APA: CBDT

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 27th November, 2017 PRESS RELEASE Clarification of India’s position on the acceptance of MAP and bilateral APA in cases of countries where Article 9(2) of OECD Model Tax Commentary is absent A number of references have been received from… Read More

Govt. extends levy of ADD on imports of caustic soda exported from Saudi Arabia and USA

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 24th November, 2017 No. 55 /2017-Customs (ADD) G.S.R. 1447(E).—Whereas, the designated authority vide initiation notification No. 7/16/2017-DGAD, dated the 20th November, 2017, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 20th November, 2017, had initiated review in terms of sub-section… Read More

Govt. amends the condition of provisional mega power projects and permit proportionate release of FDR or BG

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 24th November, 2017 No. 89 /2017-Customs G.S.R. 1448(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act,1962 (52 of 1962) and sub-section (12) of section 3 of Customs Tariff Act, 1975 (51 of 1975), the Central Government being satisfied… Read More