Custom Articles
Impact of restricting imports on Laptops, Tablets, PCs, Servers etc.
Vide Notification No. 23/2023 dated 3rd August 2023 issued by the DGFT, with immediate effect, import of laptops, tablets, palmtops, all-in-one personal computers, and ultra-small form factor computers and servers falling under HSN 8741 will be 'restricted' and their import would be allowed only against a valid licence for restricted imports
Special Valuation Branch (SVB) under Customs - Valuation for Goods imported from Related Parties
Special Valuation Branch is a special unit of the Customs department which is specializing in investigating the transactions which are entered into by importer based out in India and a supplier based in foreign country who have relationship like joint ventures, partnerships, holding-subsidiary etc. which could possibly influence the price of the transaction entered.
IEC Registration Online
IEC is an abbreviation of Importer Exporter Code. It is a 10 digit code same replication of your business PAN number. This will be issued by Director General of Foreign Trade (DGFT), Ministry of Commerce by online.
FAQs on PAS-6
The article lists down some important FAQs on PAS-6
Notice from Customs for recovery of Drawback on Non-Realisation of Exports Proceeds
Lot many exporters have started receiving notice from Customs department for recovery of Drawback
Valuation & provisional assessments under customs
Valuation is one of the most crucial aspect for an organisation engaged in import and export of gems, precious and semi-precious stones considering high value transactions.
Features of the new tax information portal launched by CBIC
CBIC has launched a revamped tax information portal Click Here. With the help of this portal, all indirect tax legislations, rules, regulations and forms will be available for the easy reference of taxpayers. CBIC will continuously update and expand this portal in a phased manner.
Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP)
Scheme for Remission of Duties and Taxes on Exported Products (RODTEP) was launched in 2020 from 1st January 2021 through the ministry of commerce and industry Govt. of India. This scheme is applicable to the export of products but not services.
Import Export in India
Before starting import/export business it is preferred to register your business in Private Limited or Public limited or LLP format for the convenience of fast loan approvals and ease of doing business with foreign customers as they prefer registered corporate entities
Complete Guide to Custom Exchange Rate
The custom exchange rate is used in filing the shipping bill and bill of entry. The exchange rate is the value of one country's currency in relation to author currency.
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