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What's New...
Pet Coke Import for Fuel Prohibited
· Free Import Allowed only for Cement, Lime, Calcium
Carbide and Gassification on AU Condition
· Domestic Lobby Prevails
· WTO Free Importability Violated
DGFT Allows 125 MT of Peas Import per Contract
Irrespective of Advance Payment Made Before 25 April 2018
High Speed Steel of Non Cobalt Grade from Brazil, China
and Germany under Anti-dumping
· Investigation Initiated on Complaint of Graphite
India
Fluoroelastomers (FKM) from China in Anti-subsidy Net –
Investigation Initiated on Complaint of Gujarat Fluorochemicals
· 61 State Subsidies Alleged
Waiver of
Bank Guarantee or Surety to EOUs under B17 Bond Continues
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IGCR with BG to Apply only on General Importers
Tariff Value of Palm Oil, Palmolein, Gold and Silver,
Brass Scrap, Areca Nuts and Poppy Seeds Notified
South African Rand Exchange Rate revised to Rs. 5.05
w.e.f. 15 August 2018
CBIC Stops Collection of Safeguard Duty on Solar Cells
Following Orissa High Court Stay
· Madras HC Concerns with Orissa
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Provisional Assessment Allowed on Simple Undertaking
under Sec.18 of Customs Act, 1962
CBIC Drops Rigorous Top Tier I Selection Procedures
· Eight Forms Replaced with Simple Two Forms with
Declarations
· Hopes More Entrants will Opt for AEO
· Importers Shy Away as Benefits not Visible
· Direct Port Delivery (DPD) given without AEO
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No Fast Clearance Seen as Goods go thru Examination
even with AEO Status
Aluminium Alloy Road Wheels Sunset Review Initiated
·
Import from China, Korea RP, Thailand
·
Synergies Castings and Kosei Minda along with Two
Producers Claim Dumping Continues
Welded Stainless Steel Pipes and Tubes from China and
Vietnam in Anti-subsidy Net – Investigation Initiated on Complaint of Stainless
Steel Pipe and Tubes Manufacturer Association
Anti-subsidy Investigation Initiated on Saccharin from
China on Complaint of Swati Petro Products Plus Four
·
Indonesia Too in Anti-dumping Investigation on
Complaint of Swati Petro Products on 14 June 2018
·
Anti-dumping Duty on Saccharin from China (Ntfn
07-Cus(ADD)/13.01.2017) Lapsed on 12.01.2018
IGST Amendment Bill Introduced in Lok Sabha to
Implement GST Council Decisions
CGST Amendment Bill Introduced in Lok Sabha to
Implement GST Council Decisions
Compensation Cess Amendment Bill Introduced in Lok
Sabha to Implement GST Council Decisions
GSTN to Monitor GSTR-1 and 3B for Tax Evaders
GSTR-1 Filing Date Extended to 11th of
Succeeding Month for the Month of July 2018 to March 2019 for Units Turnover
above Rs. 1.5 crs
GSTR-1 Quarterly Last Date Filing Date Extended
·
July-Sept 2018 to 31 Oct 2018
·
Oct-Dec 2018 to 31 Jan 2019
·
Jan-March 2019 to 30 Apr 2019
GSTR-3B Last Date Extended to 20th Day of
Next Month in July 2018 to March 2019 Period
GST Applicable on Goods and Services – CBIC
Clarification
· Fortified Toned Milk
·
Refined beet and cane sugar
·
Tamarind Kernel Powder (Modified & Un-Modified
form)
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Drinking water
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Plasma products
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Wipes using spun lace non-woven fabric
·
Real Zari Kasab (Thread)
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Marine Engine
·
Quilt and comforter
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Bus body building as supply of motor vehicle or job
work
·
Disc Brake Pad
GST Applicable only on Petroleum Gases retained by
Users
Only Fertilisers Supplied for Use as Fertilisers or
in Manufacture of Complex Fertilisers to Attract only 5% GST
·
Other Fertilisers used for other than Agri Purposes to
be Charged 18% GST
Services Provided by Private ITIs Exempted for Coaching
in Designated Trade from GST – CBIC Clarification
GST Collections on the Rise, Crosses 96K crs Mark in
July 2018
Livestock Exports Banned by Shipping Ministry
Merchant Shipping Act Misuse, Vessel Control for
Safety Clause used for “Health and Security” of Sheep and Goat Exported for
Id Celebration in Gulf
Easy Procedure for Bond Discharge of Jewellery Export
against Supply by Nominated Agencies
No Late Cut for Linen Export in 63029100 during Six
months of 1 April-30 Sept 2015 Period
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BIG’s
Easy Reference
Customs Tariff 
2018-19
41st
Budget Edition
Author: Arun Goyal
ISBN: 978-81-86234-60-8
Rs. 1990
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Rupee Falls by Rs. 1.85 against Dollar to Rs. 71.10 w.e.f. 17
August 2018
[Customs Notification No. 74 (Non
Tariff) dated 16 August 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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52.25
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49.95
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2.
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Bahrain Dinar
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192.40
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180.40
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3.
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Canadian Dollar
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54.60
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52.60
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4.
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Chinese Yuan
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10.30
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10.00
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5.
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Danish Kroner
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10.90
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10.50
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6.
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EURO
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81.40
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78.40
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7.
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Hong Kong Dollar
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9.10
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8.80
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8.
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Kuwait Dinar
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239.35
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224.10
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9.
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New Zealand Dollar
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47.45
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45.30
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10.
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Norwegian Kroner
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8.50
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8.15
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11.
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Pound Sterling
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91.00
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87.60
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12.
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Qatari Riyal
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19.80
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18.70
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13.
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Saudi Arabian Riyal
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19.35
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18.15
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14.
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Singapore Dollar
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51.90
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50.10
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15.
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South African Rand
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5.00
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4.70
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16.
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Swedish Kroner
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7.80
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7.50
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17.
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Swiss Franc
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72.15
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69.40
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18.
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UAE Dirham
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19.75
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18.50
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19.
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US Dollar
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71.10
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69.40
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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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64.60
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62.20
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[F.No.468/01/2018-Cus.V]
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