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Last Thursday, July 21, 2016, DGFT brought in clarity over non-inclusion of central and state taxes such as: VAT, Service tax, Luxury Tax etc in the Net Foreign Exchange Earning (NFE) calculated for the purpose of availing SFIS/SEIS benefits under FTP. DGFT has also emphasized upon stricter compl...
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Trade Notice no. 10/2016 which came last Tuesday, on July 19th 2016, brought some sigh of relief for all the exporters who have made supplies to SEZ units before 01.04.2015 against payment in INR and wanted to discharge their Export Obligation of EPCG licenses through these exports. It was decided ...
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The Appointments Committee of the Cabinet (ACC) has appointed New Additional Director General of Foreign Trade at Mumbai and New Delhi. Ms. Sonia Sethi, IAS (MH:1994), Joint Secretary, Ministry of Culture has been appointed as Additional Director General of Foreign Trade (Addl. DGFT), Mumbai, Direc...
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Keeping in view of improving the business environment in the country, DGFT simplifies the Procedure for filing Application under Merchandise Export Incentive Scheme (MEIS) Scheme for EDI Shipping Bills. DGFT vide its Public Notice No.13/2015-20 dated 27.05.2016 supersede the requirement of filing s...
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DGFT vide its Public Notice No.06/2015-2020 dated 04.05.2016 added markets in 2787 lines with immediate effect. Presently MEIS Scheme covers 5012 lines out of which 2787 required submission of Landing Certificate as reward was not available for all markets. Adding of markets vide this public notice...
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Status holder certification is now back on the basis of current + past 3 years. This was earlier modified to current + past 2 years in the current FTP 2015-20 which rendered a lot of exporters without the status. Exporter groups had represented this to the Government and the govt has accordingly res...
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The Directorate General ofForeign Trade (DGFT) vide its notification No.02/2015-2020 dated 11.04.2016provided the definition of E-Commerce Platform in respect to facilitate theMerchandise Export from India Scheme (MEIS) benefits under Foreign Trade Policy2015-20. Nowand hereafter till further not...
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Central Government vide notification No.14/2016-Cusotms dated 01.03.2016 has withdrawn the custom duties exemption on direct imports of specified goods for defence purposes following under S. No.9, 9A, 10, 10A of Table annexed to Notification No.39/96 dated 23.07.1996. Also the letters 9A, 10A, h...
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Indian Customs Declaration Form’ is revised to include ‘Drones’ in the prohibited and dutiable goods list. Passengers carrying it need to declare in customs form w.e.f. April 1, 2016 Central Government also made it mandatory to mention in the customs form about meat, meat products, fi...
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Krishi Kalyan Cess @ 0.5% proposed to be levied, on any or all taxable services on the value of taxable services thereby making effective service tax rate at 15%, w.e.f. 1st June 2016. Customs and/or BED rates reduced on inputs relating to IT hardware, capital goods, defense production, textiles,...
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