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What's New...
Korean Won and Turkish Lira Recognised
for Customs Valuation Exchange Rate
New Drawback Rates Effective from 19 December 2018 –
CBIC Circular
Prohibited Items in
SCOMET List not Allowed for Exhibitions
Export Authorisation for Re-export or Return of SCOMET Items
IEC is to be
Issued Only in the Name of Firm and Not in the Name of the Partner or
Proprietor
· Details will be Verified against the ID of the
Partner/Proprietor
Lapsed ITC can be Claimed till 31 March 2019, Last Date
of 30 Sept Challenged
· Gujarat High Court Accepts Petition Challaning
GST Law to Restrict ITC Claimed upto Sept 2018 GSTR
3B
GST Regime has not Upped Tax in Real Estate, says Govt
· GST Rates same as previous Excise Regime
· No GST after Completion Certification
·
ITC available to Builders in Pre-completion Cases, he is
to pass onto Buyer in Low Price
Export Credit of $500mn to Tanzania for Financing Water
Supply Schemes
Manual Filing for AEO T1 to Continue till End of
Financial Year 2018-19
·
T1 and T2 Certification Validity Extended to Three
Years
Meadow Port (Andaman and Nicobar Islands) Notified for
Unloading Imported Goods and Loading Export Goods
GSTR 9, 9A and 9C Forms Uploading on Portal Shortly
· Last Date for Filing Extended to 31 March 2019
EOU Notifications Aligned with Revised FTP, GST
· Warehousing Exemption Included
· B17 Bond Updated
EOUs under General Scheme – Amendments in Customs
Notification
·
After Sales Service for Repairs and Reconditioning of
Electronic Goods Exported Earlier
·
Re-export Must Take Place within One Year of Re-import
EOUs under General Scheme – Amendments in Excise
Notifications
B-17 Bond
New Drawback Rates Effective from 19 December 2018
Released – Customs Notification
Revised Territorial Jurisdiction of RA of DGFT
·
RA Amritsar Merged in RA Ludhiana
·
RA Goa in Mumbai
·
RA Puducherry in Chennai
Errata to Public Notice No.50/2015-2020 dated 26th
November, 2018 - Pet Coke Quota Allocation Application thru ANF 2M
Rupee Gains by Rs. 1.20 against
Dollar to Rs. 71.75 w.e.f.
7 Dec. 2018
Cabinet Approves Agriculture Export Policy, 2018
DRI concludes discussions with International Customs
partner agencies in a two-day meeting held on 4th and 5th December, 2018;
· Special emphasis made on sharing of data and
intelligence between different Customs administrations;
·
Extensive discussions held regarding mutual strategy to
counter organized crime related to drugs, precious metals & stones, money
laundering and black economy
WTO Chief Warns of Economic Danger of Trade War
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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. 1.20 against Dollar
to Rs. 71.75 w.e.f. 7
Dec 2018
[Customs Notification No. 96 (Non Tariff) dated 6 December 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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52.35
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50.10
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2.
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Bahrain Dinar
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194.20
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182.15
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3.
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Canadian Dollar
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53.85
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52.00
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4.
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Chinese Yuan
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10.50
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10.15
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5.
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Danish Kroner
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10.95
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10.60
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6.
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EURO
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81.95
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78.95
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7.
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Hong Kong Dollar
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9.25
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8.90
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8.
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Kuwait Dinar
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240.90
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225.60
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9.
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New Zealand Dollar
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50.05
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47.65
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10.
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Norwegian Kroner
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8.45
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8.15
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11.
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Pound Sterling
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91.85
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88.60
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12.
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Qatari Riyal
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20.10
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18.85
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13.
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Saudi Arabian Riyal
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19.50
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18.30
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14.
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Singapore Dollar
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52.65
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50.85
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15.
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South African Rand
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5.
25
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4.95
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16.
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Swedish Kroner
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8.05
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7.75
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17.
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Swiss Franc
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72.45
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69.70
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18.
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UAE Dirham
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19.95
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18.70
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19.
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US Dollar
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71.75
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70.05
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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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64.05
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61.70
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[F.No.468/01/2018-Cus.V]
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