Monday, August 10, 2020

Excise & Customs

Govt. proposes Increase in Customs Duty on Footwear and Furniture to Promote Domestic MSMEs

Keeping in view the need of the MSME sector, Customs duty is being raised on items like footwear (from 25% to 35% on footwear and from 15% to 20% on parts of...

DGFT invites appropriate Suggestions on Misclassification of Goods under ‘ Others’ Category [Read Circular]

The Directorate General of Foreign Trade (DGFT) has invited appropriate suggestions on misclassification of goods under the ‘others’ category at the time import registration. The members of the Trade and Industry were advised...

CBIC implements Automated Customs Clearance on Pilot Basis in Two Ports [Read Circular]

The Central Board of Indirect Tax and Customs (CBIC) has implemented automated customs clearance on a pilot basis in two ports. In a Circular issued by CBIC said that, using the electronic clearance...

Madras HC denies Exemption benefit on Imports made prior to Registration under Customs Rules [Read Judgment]

The Madras High Court has denied the exemption benefit on imports made before the registration under customs rules. The Assessee M/s.Medreich Sterilab Limited holding that Rules 3 and 4 of the Customs (Import...

Goods Imported as Gifts can be allowed Import Free on payment of Full Applicable Fees: DGFT [Read Circular]

The Directorate General of Foreign Trade (DGFT) clarified that the goods imported as gifts can be allowed import free (i.e. without prohibition) on payment of full applicable duties. Since the goods imported...

Facility of Beneficiary Uploading Documents through e-SANCHIT will be deactivated from Jan 31st: CBIC

The Central Board of Indirect Taxes and Customs (CBIC) said that the facility of beneficiary uploading these documents through e-SANCHIT will be deactivated from 31.01.2020. ‘e-SANCHIT’ application is successfully in operation since 01.04.2018....

Non-Compliance and Misclassification of Imported Goods under ‘Others’ Category may shift such items from ‘Free’ to ‘Restricted’ Category: DGFT [Read Circular]

The Directorate General of Foreign Trade (DGFT) issued the notice stating that Non-Compliance and Misclassification of Imported Imported Goods under ‘Others’ Category may shift such items from ‘Free’ to ‘Restricted’ Category. On January...

No Confiscation or Penalty as Import of Multi Functional Digital Copies are not prohibited: CESTAT [Read Order]

The Customs Excise and Service Tax Appellate Tribunal (CESTAT) of Hyderabad held that importing of Multifunctional digital copies is not prohibited so cannot confiscation or penalty can be imposed. The appellant herein has...

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