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News –19 February 2019

 

 

 

What's New...

 

Red Sanders Wood Obtained from Private Land Allowed against Licence in Raw Form

·    Value Added Products Export List Expanded to Allow from Stocks Derived from Private Land

Procedure for Obtaining Export Licence for Export of Red Sanders Wood Sourced from Private Land

Inter State Supplies to Unregistered Persons Must be Reported in FORM GSTR-3B and FORM GSTR-1

Intra State Payment of CGST and SGST Accepted instead of IGST Applicable on Warehoused Supply

·    One Time Exception Allowed

Place of Supply to be Mentioned Inter State Supply Invoice

Limit of 20% for Single Corporate in FPI Debt Portfolio Withdrawn

 

18.02.2019

India Denies MFN to Pakistan

·     Duty Hiked to 200 percent

·     All Goods Imported from Pakistan under Emergency Powers to Amend Customs Tariff Act, 1975

·     New Tariff Line 9806 00 00 Introduced

·     Existing Tariff Rates and Notification are inoperative since all goods will be classified in specific heading 9806 and not in Chapter heading

·     No amendment in notifications for Preferential Duties on Pak create confusion

·     Goods in transit and Passengers Baggage specially hit as all  must pay 200% duty plus 10% surcharge plus 18% IGST big total to astounding 275.80%

·     Non Consultation with Pak Violative of GATT Art I

·     SAPTA and DAFTA up in the Air

·    Goods in Transit from Afghanistan, Iran and Central Asia passing through Pakistan will also face the 200% duty

Duty Drawback Rates and Cap Raised on

·     Staple Fibre Rates Upped

·     Specific rates for Silk, Shoes

·     More DBK for Gold, Silver Articles

·     Mobile Cap raised by Rs. 47 per piece

·    New Rates will come into force from 20th day of February 2019

 

16.02.2019

DGFT Discontinues Issue of Physical Copy of Advance and EPCG Authorisation from 1 Mar 2019 Onwards

Groundnut Shell and Kernels Import Allowed under HPS Groundnut Kernels SION

Tariff Value of Palm Oil, Palmolein, Gold and Silver, Brass Scrap, Areca Nuts and Poppy Seeds Notified

South African Rand Exchange Rate Revised

Guidelines for the Customs Brokers’ Examination Candidates

Exports Grow Marginally by 3.74% in Jan, Imports too Slow Down

TRIPS Council Launches New Notification System, Discusses Incentives for Technology Transfer

Prabhu Lauds Export Initiatives

Indo - U.S. CEO Forum Meets in Delhi

·   US Commerce Secretary Fails to Turn Up

 

13.02.2019

Plant Quarantine Agencies to Register under e-SANCHIT

Anti-dumping Duty on Peroxosulphates from China and Japan Withdrawn –Ntfn 11/2013-ADD Rescinded

Anti-dumping Duty on High Tenacity Polyester Yarn from China – Changes in Exporter Name

·   “Hyosung Corporation, Korea” to “Hyosung Advance Materials Corporation (HAMC)”

·   “Zhejiang Guxiandao Industrial Fibre Co., Ltd.” to “Zhejiang Guxiandao Polyester Dope Dyed Yarn Co., Ltd”

Daewoo International Corporation Name Changed to POSCO Daewoo Corporation in Stainless Steel Flats Anti-dumping Case

Daewoo International Corporation Name Changed to POSCO Daewoo Corporation in Stainless Steel Flats Anti-dumping Case

 

 

 

BIG’s Easy Reference
Customs Tariff 2018-19 Vol. I

IMPORTS with IGST

With Free

Supplement

(Covering Four Month Period Oct 2018 to Jan 2019)

42st Budget Edition

October 2018

Author: Arun Goyal

ISBN: 978-81-86234-64-8

Rs. 1990

 

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Released on 9 February 2019

SUPPLEMENT

(Covering the Four Month Period Oct 2018 to Jan 2019, including Interim Budget 2019)

Big’s Easy Reference Customs Tariff Vol. I

IMPORTS with IGST

42nd Edition

October 2018

Author: Arun Goyal

ISBN: 978-81-86234-64-8

Rs. 150

Order Now

BIG’s Easy Reference Customs Tariff Val. II

EXPORT of Goods and Services

2nd Edition

Author: Arun Goyal

ISBN: 978-81-86234-66-2

Rs. 1250

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Last Updated on 19-02-2019