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What's New...
Stock and Sale SCOMET Export Allowed in Foreign Country
EPCG Authorisation Validity Raised
to 24 months from 18 months
Export Credit of $3.5mn
Released for Financing and Servicing of Three Chetak Helicopters to Suriname
Export Credit of
$27.5mn to Suriname for Up-gradation of Transmission Network Infrastructure
Export Credit of $2.5mn
for Financing Unfinished Fertilizer Plant Project to Madagascar
Australia Takes India to WTO on Sugar Subsidies
O-Ester also included in the Anti-dumping Notification
after findings of Circumvention of O-Acid Duties through O-Ester Route
Exports Up to
17.9% to $26.98bn in October
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Imports too Rise to $44bn, a Rise of 17.6%
· Gold Imports Fall 42.9% to $1.68bn in Oct
Tariff Value of Palm Oil, Palmolein,
Gold and Silver, Brass Scrap, Areca Nuts and Poppy Seeds Notified
Rupee Gains by Rs. 1.75
against Dollar to Rs. 72.95 w.e.f.
16 Nov. 2018
Last Date for
Installation of Radiation Monitors for Un-shredded Scrap at Designated Ports
Extended by Five More Months till 31 March 2019
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DGFT Threatens De-recognition to the 14 Ports if No
Monitors by New Date
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Ports may be Happy to be Rid of Unremunerative
Cargo, Trade Feels Parallel System of PSIC at Load Port Cheaper and Faster
PM Unveils 12
Key Initiatives for MSME Support and Outreach
59 Minute Loan Portal to Enable Easy Access to
Credit for MSMEs
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Mandatory 25 percent Procurement from MSMEs by CPSEs
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Ordinance for Simplifying Procedures for Minor
Offences under Companies Act
Chairman CBIC Inaugurates Regional Contact Point (RCP)
Three Days Meeting of Asia Pacific Region of WCO at Jaipur
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India Assumes Vice Chair of Asia Pacific Region for
WCO
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Delegations from More than 25 Countries along with
Regional Bodies of WCO Attending
CITES,
Extended Producers Responsibility (CPCB) and Drugs Licence
to Go Online for Clearance from 16 Nov
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Agency to Upload Three Licences,
Importer not Allowed
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Trade Fears Excessive Computerisation
will Hold up Clearances
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More Such Measures for Other Documents on the Anvil
New Deal for Import Export E-Way Bill
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Multiple Parties and Part Consignments Recognised
India Secures More Time for RCEP
· Move Postponed but Major Concessions to ASEAN + Six
Accepted
Corrigendum dated 12 November 2018 to Ntfn 60/2018-Central Tax, dated the 30th October, 2018
All India EDI Based eSANCHIT
Launched for Exports from 8 Nov
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Decision taken After successful Implementation of the
Pilot at Air Cargo Complex, New Delhi and Chennai
·
Login in www.icegate.gov.in for uploading Supporting
Documents
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View of Uploaded Documents for a Period of 5 Years
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Customs Officers will be able to Access the All the
Uploaded Documents Online and Raise Query for Additional Documents
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Additional Docs to be Filed Online after Obtaining IRN
(Image Reference No.)
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After filing of the Self Assessed SB visit Customs Port
for Goods Registration, Docs Verification and LEO (Let Export Order)
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Examination Report to be Filed Online by Customs
Officers
Embassies and UN Organizations are Filing Wrong
Information of Place of Supply in Form GSTR-11 under Rule 82 of CGST Rules,
2017
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Place of Supply means where Goods will be Delivered
According to Invoice, not where Firm/Entity is Registered
· Same State Supplier and Place of Supply then CGST +
SGST is Charged, Different States then IGST is Charged
GST Refund Rs. 82,775 crs Claimed by CBIC as on 31 Oct 2018
· ITC Refund Due under RFD-01A is High Rs. 2,146 crs for States
Compulsory Hedging Period for ECB Cut to 3 Years for
Infra
· Average for ECB Maturity Now 5 Years for Exemption of
Hedging
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Released on 15 Oct 2018
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BIG’s
Easy Reference
Customs Tariff
2018-19
42st
Budget Edition
October 2018
Author: Arun Goyal
ISBN: 978-81-86234-64-8
Rs. 1990
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Rupee Gains by Rs. 1.75 against Dollar
to Rs. 72.95 w.e.f. 16
Nov. 2018
[Customs Notification No. 93 (Non Tariff) dated 15 November 2018]
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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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53.60
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51.30
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2.
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Bahrain Dinar
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197.40
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185.20
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3.
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Canadian Dollar
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55.50
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53.45
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4.
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Chinese Yuan
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10.55
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10.20
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5.
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Danish Kroner
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11.15
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10.75
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6.
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EURO
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83.15
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80.15
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7.
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Hong Kong Dollar
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9.35
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9.05
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8.
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Kuwait Dinar
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244.75
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229.25
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9.
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New Zealand Dollar
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50.35
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48.10
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10.
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Norwegian Kroner
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8.65
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8.35
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11.
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Pound Sterling
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95.40
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92.10
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12.
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Qatari Riyal
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20.45
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19.20
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13.
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Saudi Arabian Riyal
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19.85
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18.60
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14.
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Singapore Dollar
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53.25
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51.45
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15.
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South African Rand
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5. 20
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4.85
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16.
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Swedish Kroner
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8.10
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7.80
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17.
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Swiss Franc
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73.15
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70.20
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18.
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UAE Dirham
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20.25
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19.00
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19.
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US Dollar
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72.95
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71.25
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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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64.65
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62.35
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[F.No.468/01/2018-Cus.V]
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