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What's New...
Refund – Deemed Export Supplies
·
Rule 89(1) – in
third Proviso Clause (b) Inserted
·
Rule 96A(1) – in Clause
(a) the words “or such further period as may be allowed by the commissioner”
inserted
·
In Form GST RFD –
01
·
In Statement 2 –
Exports of Services with Payment Tax Separate Column for Cess Included
·
In Statement 4 –
Endorsed Invoice by SEZ and Cess added in the Columns
Deemed Exports – List of Supplies Notified
·
AA, EPCG, EOUs,
Supply of Gold by PSU Banks
Mandatory Standard of Membrane Cell Produced Caustic Soda
for Imports Soon
·
Alkali Manufacturers concerned about Consumer Health
and Environment!
Pending Appeals Cases will be Redistributed to
Jurisdiction Commissioners to Speed up Disposal
· Commissioner Appeals to Decide at least Half the
Pending Cases
· All Cases to be cleared before 31 March 2018
· No Mechanical Disposal Allowed, Speaking Orders should
be Issued
·
Orders to be Examined by Review Committee
Marginal Cut for Anti-dumping Duty on Colour Coated
Steel from China and EU – Final Findings
·
No ADD in Dead Period of 10 July – 16 Oct 2017
CBEC to Redistribute Cases in Jurisdictions to Reduce
Pendency of Cases with Commissioners (Appeal)
Export Credit of $1bn to Mongolia for Development of
Railways and Infrastructure Projects
Export Credit of $318mn to Sri Lanka for Rolling Stock
and Upgrading Railway Track
Revised Guidelines for NRs to Hedge in INR Exposures in
India
Leasing Vehicles Purchased before 1 July to Attract 65%
of the Rate of Compensation Cess - I
Leasing Vehicles Purchased before 1 July to Attract 65%
of the Rate of Compensation Cess - II
IGST Exemptions in Export Production
· Advance Authorisation
· EPCG
·
EOU/EHTP/STP/BTP
Seeks to prescribe Central Tax rate on the leasing of
motor vehicles.
Seeks to prescribe Union Territory Tax rate on the
leasing of motor vehicles.
The notification No. 34/2017-Central Tax (Rate) seeks
to amend notification No. 1/2017-Central Tax (Rate).
Seeks to amend notification No. 2/2017-Central Tax
(Rate).
Seeks to amend notification No. 4/2017-Central Tax
(Rate).
Seeks to amend notification No. 13/2017-CT(R) regarding
services provided by Overseeing Committee members to RBI under RCM.
Seeks to amend notification No. 13/2017-UTT(R)
regarding services provided by Overseeing Committee members to RBI under RCM.
Seeks to amend notification No. 12/2017-CT(R)
Seeks to amend notification No. 11/2017-CT(R)
Seeks to amend notification No. 2/2017-Union Territory
Tax.
Seeks to exempt payment of tax under section 7(4) of
the UTGST Act, 2017 till 31.03.2018.
Seeks to amend notification No. 4/2017- Union Territory
Tax (Rate).
Seeks to amend notification No. 2/2017- Union Territory
Tax (Rate).
Seeks to amend notification No. 1/2017- Union Territory
Tax (Rate).
Seeks to amend notification No. 12/2017-UTT(R).
Seeks to amend notification No. 11/2017-UTT(R).
Seek
to amend various Customs exemption notifications to exempt Integrated
Tax/Cess on import of goods under AA/EPCG. Schemes
Integrated Tax and Compensation Cess Exempted upto 31 March 2018 on Import of Goods under Advance
Authorisation and EPCG
Seeks
to exempt goods imported by EOUs from
Integrated Tax and Compensation Cess
Customs
seeks to amend notification No. 50/2017-Customs to prescribe BCD and IGST rates on certain goods
36 Banks and 5 PSUs Allowed to Import Gold at Zero IGST
Gifts upto Rs. 5000 Free of Duty by Post or Air
Online Clearance of NTBs – Pilot Implementation of Paperless
Processing under SWIFT
To remove
difficulties in implementing provisions of composition scheme
Clarification on supply
of Satellite Launch Services by
ANTRIX Corporation Ltd
Rebound in Manufacturing and Redressal
of GST Challenges will further Boost India’s Exports, Job Creation and
Growth, FIEO President
Seeks to prescribe Integrated Tax rate on the leasing of motor vehicles.
Seeks to amend notification No. 10/2017-IT(R) regarding
services provided by Overseeing
Committee members to RBI under RCM.
Seeks to amend notification No. 1/2017-Integrated Tax (Rate).
Seeks to amend notification No. 2/2017-Integrated Tax (Rate).
Seeks to amend notification No. 4/2017-Integrated Tax (Rate).
Seeks to amend notification No. 8/2017-Integrated Tax (Rate).
Seeks to amend notification No. 9/2017-IT(R) .
Tariff
Value of Palm Oil, Palmolein, Brass Scrap, Gold and
Silver, Areca nuts, Poppy Seeds
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Updated Foreign Trade Policy 2015-2020 (As on 15 Oct 2017) 
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E-book
Author: Arun Goyal
Rs. 200
Highlights
Ø IGST Exemptions in Export Production
· Advance
Authorisation
· EPCG
· EOU/EHTP/STP/BTP
Ø Gold or Silver Importation and
Exportation Removed from WTO Rules under Para 2.07 of FTP
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BIG’s
Easy Reference
Customs Tariff
with
IGST on Goods
IGST on Services
40th
GST Edition
Author: Arun Goyal
ISBN: 81-86234-58-6
Rs. 1980
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Rupee Falls 55 Paise
against Dollar to Rs. 65.95 w.e.f.
6 October 2017
[Customs
Notification No. 94 (Non Tariff) dated 5th October 2017]
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Schedule-I
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SNo.
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Foreign Currency
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Rate of exchange of one unit of foreign currency equivalent to
Indian rupees
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(1)
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(2)
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(3)
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(a)
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(b)
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(For Imported Goods)
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(For Export Goods)
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1.
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Australian Dollar
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51.95
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50.15
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2.
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Bahrain Dinar
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178.60
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166.90
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3.
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Canadian Dollar
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53.00
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51.35
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4.
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Chinese Yuan
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9.95
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9.65
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5.
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Danish Kroner
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10.50
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10.10
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6.
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EURO
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77.85
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75.20
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7.
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Hong Kong Dollar
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8.45
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8.20
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8.
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Kuwait Dinar
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223.10
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208.45
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9.
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New Zealand Dollar
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47.50
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45.80
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10.
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Norwegian Kroner
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8.35
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8.05
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11.
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Pound Sterling
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87.75
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84.85
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12.
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Qatari Riyal
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18.40
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17.40
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13.
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Saudi Arabian Riyal
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17.95
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16.80
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14.
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Singapore Dollar
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48.50
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47.00
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15.
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South African Rand
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4.95
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4.65
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16.
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Swedish Kroner
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8.20
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7.90
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17.
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Swiss Franc
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68.00
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65.60
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18.
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UAE Dirham
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18.35
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17.15
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19.
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US Dollar
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65.95
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64.30
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Schedule-II
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SNo.
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Foreign Currency
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Rate of exchange of 100 units of foreign currency equivalent to
Indian rupees
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(1)
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(2)
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(3)
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(a)
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(b)
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(For Imported Goods)
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(For Export Goods)
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1.
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Japanese Yen
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58.75
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56.80
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2.
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Kenya Shilling
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65.30
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61.00
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[F.No.468/01/2017-Cus.V]
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