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News – 24 February 2020

 

 

What's New...

 

MoEF Releases Draft Rules for EPR (Extended Producers Liability) for Battery Scrap over and above the Hazardous Waste Rules, 2008

·    Battery Waste Management Rules, 2020

·    Application

·    Definitions

·     Prohibitions and Labelling Requirement

·    Responsibilities

·    Computerization of Records and Returns

·    Procedure for seeking authorization and registration for handling battery wastes

·    Sch. I – Classification of Batteries

·    Table 2 – Classification of Batteries in-purview of regulations and mandates

·    Sch. III – Targets for extended producer responsibility – Authorisation

IGST on Lottery Run by State Govt Raised to 28% from 12% w.e.f. 1 Mar 2020

Shooters can now keep 12 Additional Weapons as again 7 earlier

·     Amendments in Arms Act, 1959 and Arms Rules, 2016 Notified

BIS Standards for 26 New Items Released with effect from 30 Jan 2020

 

22.02.2020

Customs Releases New Regulations for Movement of Transit Goods from India through Bangladesh; Old 1965 Regulations Superseded

·     CTD (Customs Transit Declaration) with Bond required (No Electronic Declaration as of Now)

·     LCS in India and Bangladesh along with Chattogram or Mongla Ports in Bangladesh Named as Transit Station

Transportation of Goods (Through Foreign Territory), Regulations, 2020

·     Application

·     Documentation

·     Approval of Customs Transit Declaration

·     Permission to load goods

·     Permission for transshipment

·     Arrival at the customs station of re-entry

·     Annexure A: Customs Transit Declaration (CTD)

·     Annexure C: Bond

Physical Copies of TMA Application may be Submitted to Overcome Software Response Error; One Time Relaxation Allowed

 

21.02.2020

Coronavirus Alarm Bells Ring in North Block - 24x7 Customs Clearance in All Sea Ports, Airports and ICDs to Clear Cargo

·       No Instructions on Creating 24x7 Availability of Trained Staff or Infrastructure of Logistics and Banks, there is already a shortage of Trained Staff

·      Cargo Volumes from China has fallen Steeply, Idling Staff Costs will be Up

Delayed Receipt of Documents from China Leads to Delays in Customs Clearance and Congestion in Ports, Customs Waiving Late Fee for Late Filing of Documents

AEPC says PTA Anti-dumping Duty Hurting Exports of Synthetic Fibre Apparel

India Issues Import Licences for 1.1mn tonnes of RBD from Indonesia, Malaysia Still on Hit List

Export Credit of USD11.13 mn to Suriname for Rehabilitation and Upgradation of De Melkcentrale N.V. Milk Processing Plant

Chlorinated Polyvinyl Chloride (CPVC) Resin from China and Korea on DCW and Chemplast Complaint – DGTR Recommends Final Anti-dumping Duty

 

20.02.2020

Board Clarification on RoSCTL Scrips under Para 4.01(c) of FTP and Additional Ad Hoc Scrips under Para 4.95 and Para 4.96 of HBP Eligible for Set Off of Customs Duty

Rupee Falls by 50 paise against Dollar, Pegged at Rs. 72.65 w.e.f. 21 February 2020

CGST Wing Detects Input Tax Credit Fraud of more than Rs 214 crores in Delhi, 1 Held

 

 

 

Released on 5 Feb 2020

BIG’s Easy Reference Vol. I
Customs Tariff

With IGST, Import Policy, FTAs

44rd Budget Edition

February 2020

Author: Arun Goyal

ISBN: 978-81-86234-71-6

Rs. 2390  $280

 

Order Now

BIG’s Easy Reference Vol. II

Foreign Trade Policy

4th Edition April 2020

Author: Arun Goyal

ISBN: 978-81-86234-73-0

Rs. 1490  $200

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BIG’s Easy Reference Val. III

Customs Manual

February 2020

Author: Arun Goyal

ISBN: 978-81-86234-72-3

Rs. 990  $150

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Last Updated on 24-02-2020