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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Central Government vide notification No.14/2016-Cusotms dated 01.03.2016 has withdrawn the custom duties exemption on direct imports of specified goods for defence purposes following under S. No.9, 9A, 10, 10A of Table annexed to Notification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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110 items added under MEIS schedule, rate revised for 2228items Through Public Notice No. 44, dated Oct 29, 2015, DGFT makesaddition of 110 items under MEIS schedule. Description of these items with HScodes was already given through Public Notice No. 2 dated April 1, 2015. Through the same not...
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Circular dated 23.10.2015 from Ministry of Finance, now mandates export documents to be digitally signed and submitted through Electronic Data Interchange(EDI). CBEC reinforced its previous circular dated back in march 2015 providing guidelines for signing Bill of Entry, Shipping Bills, IGM and EGM ...
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The issue pertains tointerpretation of the provisions of FTP - 2009-14 in relation to Served FromIndia Scheme. One side represented by multinational brands like Yum Restaurants,Several Hotels like Le Meridian, Johnson and Johnson and ThyssenKrupp, engagedin export of services while other side repres...
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COMMERCE Secretary Rita A.Teaotia yesterday held detailed consultations and deliberations with around 27 Export Promotion Councils to seek their views and suggestions on ways to promote exports. The major issues highlighted by the Export Promotion Councils related to early refund of the duty drawbac...
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The Supreme Court will hear in October the Centre’s appeal challenging the Gujarat High Court’s order that held as unconstitutional the provisions of foreign trade policy relied upon by the Directorate General of Foreign Trade (DGFT) to recover duty drawback benefits already granted to power pro...
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NEW DELHI: India's exports contracted for the ninth month in a row, dipping 20.66 per cent in August to USD 21.26 billion, due to steep decline in engineering and petroleum shipments. Trade deficit widened to USD 12.47 billion due to 140 per cent rise in gold imports in August from year-ago perio...