CA Loan Bajaj Finserv
CA Final Online Classes
CA Classes

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Summary of custom notifications issued in the month of May'19

Madhukar N Hiregange 
on 07 June 2019

LinkedIn


1. RATE OF EXCHANGE OF CONVERSION INTO INDIAN CURRENCY OR VICE VERSA WITH EFFECT FROM 3rd MAY, 2019 TO 16th MAY 2019

(Notification No. 35/2019-Customs (N.T) dated 02.05.2019)

With effect from 3rd May, 2019, the CBIC has fixed the rate of exchange for conversion of each of the foreign currencies mentioned below, relating to imported and export goods, for computation of Customs Duty as per section 14 of the Customs Act, 1962.

Sl.No.

Foreign Currency

Rate of exchange of one unit of foreign currency equivalent to Indian rupees

(1)

(2)

(3)

   

For imported goods

For exported goods

1.

Australian Dollar

50.05

47.85

2.

Bahraini Dinar

190.75

178.85

3.

Canadian Dollar

52.75

50.85

4.

Chinese Yuan

10.50

10.15

5.

Danish Kroner

10.65

10.25

6.

EURO

79.50

76.55

7.

Hong Kong Dollar

9.05

8.70

8.

Kuwaiti Dinar

236.60

221.35

9.

New Zealand Dollar

47.50

45.30

10.

Norwegian Kroner

8.20

7.90

11.

Pound Sterling

92.55

89.30

12.

Qatari Riyal

19.75

18.50

13.

Saudi Arabian Riyal

19.20

18.00

14.

Singapore Dollar

52.10

50.25

15.

South African Rand

5. 00

4.65

16.

Swedish Kroner

7.45

7.15

17.

Swiss Franc

69.75

67.10

18.

Turkish Lira

12.05

11.30

19.

UAE Dirham

19.60

18.35

20.

US Dollar

70.45

68.80

Schedule - I

SCHEDULE-II

Sl.No.

Foreign Currency

Rate of exchange of 100 units of foreign currency equivalent to Indian rupees

(1)

(2)

(3)

   

For imported goods

For exported goods

1.

Japanese Yen

63.60

61.25

2.

Korean Won

6.20

    1.  

2. RATE OF EXCHANGE OF CONVERSION INTO INDIAN CURRENCY OR VICE VERSA WITH EFFECT FROM 17TH MAY, 2019 TO 31st MAY 2019

(Notification No. 37/2019- Customs (N.T) dated 16th May'19)

  • With effect from 17th May, 2019, the following rates of exchange for conversion of each of the foreign currencies mentioned below, relating to imported and export goods, for computation of Customs Duty as per section 14 of the Customs Act, 1962.
  • The currencies mentioned are similar to the currencies mentioned in the above notification (35/2019). The below mentioned rates are applicable from 17th May, 2019, whereas notification No. 35/2019 is applicable from 3rd May, 2019, to 16th May, 2019.
  • Also, notification No. 39/2019- Customs (N.T) dated 31st May'19 was issued to further amend the rate of South African Rand with effect from 1st June'19.

SCHEDULE-I

Sl.No.

Foreign Currency

Rate of exchange of one unit of foreign currency equivalent to Indian rupees

(1)

(2)

(3)

   

For imported goods

For exported goods

1.

Australian Dollar

49.8

47.55

2.

Bahraini Dinar

192.65

180.7

3.

Canadian Dollar

53.25

51.4

4.

Chinese Yuan

10.4

10.05

5.

Danish Kroner

10.75

10.35

6.

EURO

80.3

77.35

7.

Hong Kong Dollar

9.15

8.8

8.

Kuwaiti Dinar

238.75

223.9

9.

New Zealand Dollar

47.35

45.15

10.

Norwegian Kroner

8.2

7.9

11.

Pound Sterling

92

88.75

12.

Qatari Riyal

19.95

18.7

13.

Saudi Arabian Riyal

19.35

18.15

14.

Singapore Dollar

52.3

50.5

15.

South African Rand

5.1

4.8

16.

Swedish Kroner

7.45

7.2

17.

Swiss Franc

71.1

68.35

18.

Turkish Lira

12.05

11.3

19.

UAE Dirham

19.75

18.55

20.

US Dollar

71.15

69.5

Schedule II

Sl.No.

Foreign Currency

Rate of exchange of 100 units of foreign currency equivalent to Indian rupees

(1)

(2)

(3)

   

For import of goods

For export of goods

1.

Japanese Yen

65.45

63

2.

Korean Won

    1.  
    1.  

Notification 39/2019-Customs (N.T) dated 31st May'19

Sl.No.

Foreign Currency

Rate of exchange of 100 units of foreign currency equivalent to Indian rupees

(1)

(2)

(3)

   

For import of goods

For export of goods

15

South African Rand

4.85

4.55

3. CHANGES IN THE TARIFF VALUE OF GOODS

(Notification No.36/2019- Customs (N.T) dated 15th May'19 and Notification No.38/2019-Customs (N.T) dated 31st May'19)

  • Notification No. 36/2001- Customs (N.T) dated 3rd August, 2001, has declared the tariff value in respect of imported goods mentioned below. Notification No. 36/2019 has been issued to amend these tariff values, notification No. 38/2019 has been issued to further amend the tariff values as below

TABLE-1

Sl. No.

Chapter/ heading/ sub-heading/tariff item

Description of goods

Tariff value

(US $Per Metric Tonne)

(Notification- 36/2019)  w.e.f. 15th May '19 to 30th May'19

Tariff value

(US $Per Metric Tonne)

(Notification- 38/2019) w.e.f. 31st May ‘19

(1)

(2)

(3)

(5)

(4)

1

1511 10 00

Crude Palm Oil

522

514

2

1511 90 10

RBD Palm Oil

551

546

3

1511 90 90

Others – Palm Oil

537

530

4

1511 10 00

Crude Palmolein

553

552

5

1511 90 20

RBD Palmolein

556

555

6

1511 90 90

Others – Palmolein

555

554

7

1507 10 00

Crude Soya bean Oil

689

709

8

7404 00 22

Brass Scrap (all grades)

3687

3560

9

1207 91 00

Poppy seeds

3350

3350

TABLE-2

Sl. No.

Chapter/ heading/ sub-heading/tariff item

Description of goods

Tariff value

(US $Per Metric Tonne)

(Notification- 36/2019)  w.e.f.15th  May '19 up to 30th May'19

Tariff value

(US $Per Metric Tonne)

(Notification- 38/2019)

w.e.f. 31st May ‘19

(1)

(2)

(3)

(5)

(4)

1

71 or 98

Gold, in any form, in respect of which the benefit of entries at serial number 356 and 358 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed

418 per 10 grams

412 per 10 grams

2

71 or 98

Silver, in any form, in respect of which the benefit of entries at serial number 357 and 359 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed

476 per kilogram

465 per kilogram

TABLE-3

There is a decrease in the tariff value in all cases mentioned above except for Crude soya bean oil, poppy seeds and areca nuts

4. FURTHER DEFERMENT OF EXEMPTION w.r.t. SPECIFIED IMPORTS ORIGINATING FROM USA

(Notification No. 14/2019-Cus dated 1st May '19 and No. 15/2019 dated 14th May'19)

Exemption from BCD and IGST was given for certain goods imported from USA vide notification No. 50/2017-Cus dated 30th Jun '17.

However, for certain goods the said exemption was deferred to be made applicable from 16th May '19 and further deferred to 16th Jun '19. List of such goods extracted below.

Sl. No.

Chapter/ heading/ sub-heading/tariff item

Description of goods

Tariff value

(US $Per Metric Tonne)

(Notification- 38/2019)

w.e.f. 31st May ‘19

Tariff value

(US $Per Metric Tonne)

(Notification- 36/2019)

w.e.f.15th  May ‘19

(1)

(2)

(3)

(4)

(5)

1

080280

Areca nuts

3932

3932

S.No.

Chapter or Heading or sub–heading or tariff item

Description of goods

Standard rate

IGST

14.

0511 99 11

Artemia

5%

-

14A

0511 99 11

Artemia originating in the United States of America

15%

-

21B

0713 20 20

Bengal Gram (desichana)

60%

-

21C

0713 20 90

Chickpeas (garbanzos)

60%

-

21D

0713 40 00

Lentils (Mosur)

30%

-

24A

08021100

All goods

₹ 35 per kg/-

-

24B

0802 12 00

All goods

₹ 100 per kg/-

-

26A

0802 3100

All goods

100%

-

32A

0808 10 00

All goods

50%

-

177.

2809 20 10

All goods

5%

-

177A

2810 00 20

Boric Acid

7.5%

-

249A

38220090

Diagnostic Reagents

10%

-

250A

38249990

Binders for foundry moulds

7.5%

-

371A

72101210,

721012 90

All goods

12.5%

-

371B

72191200,

72191300,

72192190,

721990 90

All goods

7.5%

-

376A

7225 11 00

All goods

5%

-

377A

73072900,

73079990,

73089090,

73102990,

73181500,

73181600,

73182990,

73209090,

73259999,

73261990,

73269099

All goods[other than screw (7318 15 00) and SIM socket / Other Mechanical items (Metal) (7326 90 99) for cellular mobile phone]

10%

-

5. PROSECUTION OF FOREIGN NATIONALS IN RELATION TO PUNISHABLE OFFENCES UNDER THE CUSTOMS ACT, 1962

(Circular No. 12/2019- Customs dated 24.05.2019)

  • Para 6 of circular 27/2015 enables prosecution to be launched in immediately after issuing the show cause notice where there is an offence in respect of the certain offenses. Now, the offenses related to the 'foreign currency' are also brought under this list.
  • Further the amendments are made to launch prosecution before issuance of SCN if the offense is committed by the ‘foreign nationals'.

6. ANTI DUMPING DUTY ON 'SACCHARIN'

(Notification No. 20/2019 Cus (ADD) dated 03.05.2019)

  • 'Saccharin' originating from Indonesia and imported to India shall be subject to anti- dumping duty vide notification No. 20/2019 Cus (ADD).
  • The anti-dumping duty imposed shall be effective for a period of 5 years from 3rd May'19
  • The duty shall be payable in Indian currency.
  • The rate of exchange applicable for calculation of anti-dumping duty shall be the rate which is specified in the notifications issued from time to time.
  • The rate, currency and per unit of measurement is specified in the table below:

S. No

Heading/Subheading

Description of goods

Country of Origin/Export

Producer

Exporter

Amount (USD/MT)

1

29251100

Saccharin in all its forms

Indonesia

Any

Any

1633.17

7. FURTHER EXTENSION TIME LIMIT ON IMPOSITION OF ANTI-DUMPING DUTY ON CERTAIN GOODS ORIGINATING OR EXPORTED FROM CHINA

(Notification No. 21/2019 Customs (ADD) dated 09.05.2019)

  • Anti- dumping duty was levied on ductile iron pipes which were originating from or exported from China and imported into India, vide notification No. 23/2013 Customs (ADD) dated 10th Oct'19.
  • Through notification No. 21/2019 Customs (ADD) dated 9th May'19, the applicability of anti-dumping duty on the above goods is extended till 23rd June'19.

Disclaimer: This material is prepared to provide updates under GST and is not an exhaustive treatment of such subject. We are not, by means of this material, rendering any professional advice or services. It should not be relied upon as the sole basis for any decision which may affect you or your business.


Tags :



Category Custom
Other Articles by -
Madhukar N Hiregange 

Report Abuse

LinkedIn



Comments


update

X

Do you have any Tax Queries

Submit