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News – 18 October 2019

 

 

 

What's New...

 

CBIC Launches Micro web site in the InvestIndia.gov.in website to help Sec.65 Manufacture under Bond

Rupee Falls by 15 paise against Dollar, Pegged at Rs. 72.30 w.e.f. 18 Oct’ 2019

New Rules of Origin Initiative to Help Firms Better Utilize Trade Preferences

·     Rules of Origin Facilitator provides firms with free access to a unique searchable database on duty savings in trade agreements

WTO General Council Elects Bakhyt Sultanov of Kazakhstan as Chair for MC12

 

14.10.2019

CBIC Clarifications on GST Rates and Classification on -

·       Classification of leguminous vegetables when subject to mild heat treatment (parching)

·       Classification and applicable GST rate on Almond Milk

·       Applicable GST rate on Mechanical Sprayer

·       Clarification regarding taxability of imported stores by the Indian Navy

·       Clarification regarding taxability of goods imported under lease

·       Applicability of GST rate on parts for the manufacture solar water heater and system

·      Applicability of GST on the parts and accessories suitable for use solely or principally with a medical device

Scope of Support Services to Exploration, Mining or Drilling of Petroleum Crude or Natural Gas or Both” at Sr. No. 24 (ii) of heading 9986 – CBIC Clarification

·       Scope of the entry at Sr. 24 (ii) under heading 9986 of Notification No. 11/2017- Central Tax (Rate) dated 28.06.2017 shall be governed by the explanatory notes to service codes 998621 and 998622 of the Scheme of Classification of Services.

·       Scope of the entry at Sr. No. 21 (ia) under heading 9983 of Notification No. 11/2017- Central Tax (Rate) dated 28.06.2017 inserted with effect from 1″ October 2019 vide Notification No. 20/2019- CT(R) dated 30.09.2019 shall be governed by the explanatory notes to service codes 998341 and 998343 of the Scheme of Classification of Services.

·      The services which do not fall under the said entries under heading 9983 and 9986 of the said notification shall be classified in their respective headings and taxed accordingly.

GST on Airport Levies

·       Airline acting as pure agent of the passenger should separately indicate actual amount of PSF and UDF and GST payable on such PSF and UDF by the airport licensee, in the invoice issued by airlines to its passengers. The airline shall not take ITC of GST payable or paid on PSF and UDF. The airline would only recover the actual PSF and UDF and GST payable on such PSF and UDF by the airline operator

·      The airport operators shall pay GST on the PSF and UDF collected by them from the passengers through the airlines. Since, the airport operators are collecting PSF and UDF inclusive of ST/GST, there is no question of their not paying ST/GST collected by them to the Government

No GST Leviable on Gift or Donation is made to a Charitable Organization, the Payment has the Character of Gift or Donation and the purpose is Philanthropic (i.e. it leads to no Commercial Gain) and not Advertisement

All Duties etc Collected as a Duty of Customs or Excise can be Claimed in Brand Rate of Drawback

 

12.10.2019

RCF Designated as STE for Urea Import

·     Free Import of Urea allowed for Non-agriculture/Industrial User/NPK Manufacturing

·    AU Condition Removed

Only Indian National Flag Code Specification Ship Allowed for Import

Inclusion of Cesses, Surcharge, Duties, Levied and Collected under Legislations other than Customs Act, 1962, Customs Tariff Act, 1975 or Central Excise Act, 1944 in Brand Rate of Duty Drawback – CBIC Clarification

GST on License Fee Charged by State Govt for Grant of Liquor Licences to Vendors

TRU Clarification on Effective Date of Explanation Inserted in Notification No. 11/2017- CTR dated 28.06.2017, Sr. No. 3(vi)

CBIC clarification on Whether Supply of Securities under Securities Lending Scheme, 1997 by the Lender is Taxable

Determination of Place of Supply in case of Software/Design Services related to Electronics Semi-conductor and Design Manufacturing (ESDM) Industry

GST Exemption to DG Shipping Approved Maritime Courses by Maritime Training Institutes of India

 

 

Released on 9 July 2019

BIG’s Easy Reference Vol. I
Customs Tariff

With IGST, Import Policy, FTAs

43rd Budget Edition

July 2019

Author: Arun Goyal

ISBN: 978-81-86234-67-9

Rs. 2190

 

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BIG’s Easy Reference Vol. II

Foreign Trade Policy

3rd Budget Edition July 2019

Author: Arun Goyal

ISBN: 978-81-86234-68-6

Rs. 1250

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BIG’s Easy Reference Val. III

Customs Manual

July 2019

Author: Arun Goyal

ISBN: 978-81-86234-65-5

Rs. 850

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Last Updated on 18-10-2019