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The government may levy GST on Statutory fees paid for Advance & EPCG Licenses. It is learned that the Indirect Tax Department had already started questioning companies and issuing notices to pay the GST. Some of the companies have already approached Ahmedabad High Court and claim that the fe...
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The government had decided regarding the partial resolution of the long-pending issue of incentives under the Merchandise Exports from India Scheme (MEIS) issue as far as exports for the duration from 1.9.2020 to 31.12.2020 are concerned. DGFT has announced the policy Vide Notification No. 30/2015...
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DGFT Possible shortage of funds with the Government due to Covid 19 has started showing up in the case of Exports too. Since July 23. 2020, Exporters are unable to file their applications to claim MEIS incentive on the Directorate General of Foreign Trade (DGFT) portal for shipping bills with let e...
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Extension of Application Filing’s Last Date and Validity of Scrips The Directorate General of Foreign Trade (DGFT) has provided relief for exporters for claiming export based incentives in the midst of ongoing COVID-19 issue. DGFT vide Public Notice 08 has notified the below relief to the expo...
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After keeping the exporters and importers in uncertainty for the past week,  DGFT has announced the extension of Foreign Trade Policy for 1 more year, just before the close of the licensing year. Most of the validity of licenses and filing dates have been extended by 3 months to a year.   ...
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EPCG authorisations have been taken in the past by several manufacturers and service providers to save on import duty, with an Export Obligation to be fulfilled over a period of time. However several manufacturers have not been aware of the requirements to submit the installation certificates as a...
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Two petitions have been filed in the Delhi and Mumbai high courts against a provision in the GST regime. The provision allows levying both the basic Customs duty and IGST on cost, insurance, and freight (CIF) value of goods brought into India, and also an IGST on ocean freight between two foreign pa...
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The Directorate General of Foreign Trade (DGFT) has issued notices to about 100 Indian units of multinationals, demanding refund of around Rs 5,000 crore that it said they wrongly claimed since 2003 under an export promotion scheme for services (SFIS). The demand ranges from Rs 25 crore to Rs 200...
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Moving along with the new GST System, DGFT now relax and eased the procedures for clubbing of advance authorisations issued under the periods of FTP Policy 2009-14 and 2015-20 and to facilitates the closure of EPCG Authorisation and older advance authorisation as One-time dispensations basis. As pe...
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DGFT had introduced some changes in the various chapters of Foreign Trade Policy (“FTP”) vide Trade Notice No. 11/2018 dated 30.06.2017 to align the same with GST post implementation. The chapter wise changes in the provisions of the FTP 2015-20  are as follows:   General Provisions ...