Globalisation refers to the growing economic interdependence of countries across the globe through the increasing volume and variety of cross-border transactions in goods and services and of international capital flows, and also through the more rapid and widespread diffusion of technology. Its majo..
The Central Board of Excise & Customs (CBEC) has launched e-SANCHIT on a pilot basis from 20th October 2017 for paperless processing, uploading of supporting documents, to facilitate the trading across Borders.
The 'India Customs Single Window' allows importer..
## What is AEO (Authorized Economic Operator?)
AEO is facilitation scheme i.e. holder of this certificate is entitled for certain privilege, benefits and exemption on account of import and export, In India, AEO certification is Three-Tier AEO (T1, T2, T3).This three tier certification is launched..
IEC TO BE ABOLISHED; GSTIN TO BE IN FUTURE
In this article author discuss the change in IEC with the introduction of GST w.e.f. (the notified date.)
IMPORT EXPORT CODE registration is required by a person for exporting or importing goods. It is a 10 digit code, which is PAN bas..
In pursuance of Circular No. 27/2015-Customs dated 23.10.2015 (further amended vide Circular No. 46/2016-Customs dated 04.10.2016) and revising the guidelines issued vide order No.394/71/97-CU S (AS) dated 22.06.1999 by Custom department issue guideline for launching of prosecution in relation..
I hurried inside the elevator of the Sale Tax Department
among others and breathed in the usual "fragrance" of tobacco and paan plastered
colourfully on the door. My pocket felt heavy with currency notes which, by the
time I would leave, would become considerably lighter!
We are sharing with you an important judgment of the Hon’ble Supreme Court of India, in the case of Surinder Singh Vs. Union of India [2016 (340) E.L.T. 97 (S.C.)] on the following issue:
Whether Customs duty and Excise duty portion of drawback already claimed by the assessee can ..
Warehousing provisions relaxed for EOUs, STPIs, EHTPs etc.
Chapter 6 of the Foreign Trade Policy (FTP) provides for manufacture of goods and supply of services, including repair, re-making, reconditioning, re-engineering by Export Oriented Units (EOUs), Electronics Hardware Tec..
The intention of levying Special Additional Duty (‘SAD’) of Customs also known as Counter Value Duty (‘CVD’) U/s 3(5) of the Custom Tariff Act is to encourage domestic market and counter balance local sales tax/ Value Added Tax (‘VAT’) leviable on like products at..
There has been a significant change in the import procedure to be followed in case of imports from related parties. I have discussed the said change in this article. Trust the same is useful for reference.
Customs Valuation - Significant amendments in SVB procedures