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What's New...
New Drawback Rates Effective from 1 October 2017
Released
Last Date for Submission of TRAN-1 Form Extended to 31
Oct 2017
Works Contracts to Government for Non Commercial,
Education, Residences Purposes covered under 12% IGST – New Entry Carried out
from 18% Duty rate
Admission to FIFA U-17 Exempt from IGST
Heavy Water Supply to NPCI by DAE Exempt from IGST
Rupee Falls 50 paise against
Dollar to Rs. 65.40 w.e.f
22 September 2017
Anti-dumping Duty on Radial Tyres for Buses and Trucks
from China Notified for Five Years
Banks Directed to Generate Export BRC only from Export
Database from 16 Oct 2017
Moong, Toor Dal and Urad Export Ban Lifted
Sec 51(1) on Tax Deduction at Source of CGST Act, 2017
to Come into Force on 18 Sept 2017
“Casual Taxable Persons” Exempt from Registration on
Inter State Supplies upto Rs.
20 lakhs but PAN and E-Way Registration Must
Job Workers in Inter State Supply Exempted from GST
Registration
Handicraft Suppliers Exempted from Registration on
Inter State Supplies upto Rs.
20 lakhs – E-way Registration Must
Renuka Sugar,
EID Parry Get Bulk of Raw Sugar Concessional Duty Quota from South India
PBT Filament Included in Tooth Brushes Input Output
Norms
Compensation Cess on Electric Vehicles of Engine
Capacity Exceeding 4000 mm 15%
·
Motor Vehicles of Engine Capacity Not Exceeding 1500
cc Raised to 17% from 15%
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Exceeding 1500cc other than SUVs 20% from 15%
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SUVs including Utility Vehicles 22% from 15%
Both Basic and IGST on Sports Goods Imported for FIFA (under
17 World Cup India 2017) Exempted subject to Re-Export in Three Months
Sushil Modi to Head Group of
Ministers on GSTN Reform
Anti-dumping Duty on Ammonium Nitrate Fertilisers from
Russia, Indonesia, Georgia and Iran for Five Years Notified
CBEC Member Ananya Ray
Retires
Finance Minister Jaitley
Constitutes Group of Ministers and a Committee on Exports
Notifications Extending Filing of GSTR-1, GSTR-2,
GSTR-3 and GSTR-6
CBEC Advisory for Collection of Excise Duty and Service
Taxes
Prevention of Tampering of
Mobile Device Equipment Identification Number Rules, 2017
Mandatory Testing of Telecom
Equipments – Effective from 1 October 2018
FinMin to Initiate Budget Exercise
Next Week
Recommendations Made by the GST Council in the 21st
Meeting at Hyderabad on 9th September, 2017
Decisions Taken on Services – 21st GST Council Meeting,
9th September, 2017
Exports Sector Welcomes the GST Council Decisions:
Ganesh Kumar Gupta, President, FIEO
Q&A on GSTR Filing Instructions
18.95% of Anti-Subsidy (CVD) Duty on Stainless Steel
Flat Products from China Imposed
Imposition of Countervailing Duty on Imports of
Stainless Steel Flat Products
Raw Sugar TRQ of Three Lakh MTs at 25% Duty Notified
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BIG’s
Easy Reference
Customs Tariff 
with
IGST on Goods
IGST on Services
40th
GST Edition
Author: Arun Goyal
ISBN: 81-86234-58-6
Rs. 1980
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Highlights
·
Rates for Goods in Slabs of 0%, 5%, 12%, 18%, 28%
·
Goods Universe – Full 8 Digit HS Code with Schedule of Rates
·
Compensatory Cess Rates on Goods
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Service Tax Rates with Exemptions and Reverse Charge and ITC
·
Services Universe – Full UN (Adopted) Service Code with Schedule of
Rates
·
Index of HS Codes for Goods
· Index of
Service Tax Codes
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Rupee Falls 50 Paise
against Dollar to Rs. 65.40 w.e.f.
22 September 2017
[Customs
Notification No. 90 (Non Tariff) dated 21st September 2017]
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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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52.65
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50.80
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2.
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Bahrain Dinar
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177.05
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165.45
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3.
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Canadian Dollar
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53.15
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51.45
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4.
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Chinese Yuan
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9.59
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9.65
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5.
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Danish Kroner
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10.50
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10.10
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6.
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EURO
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77.95
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75.35
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7.
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Hong Kong Dollar
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8.40
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8.15
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8.
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Kuwait Dinar
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221.60
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207.00
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9.
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New Zealand Dollar
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48.20
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46.50
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10.
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Norwegian Kroner
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8.35
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8.05
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11.
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Pound Sterling
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88.60
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85.70
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12.
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Qatari Riyal
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18.00
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16.85
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13.
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Saudi Arabian Riyal
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17.80
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16.65
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14.
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Singapore Dollar
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48.50
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47.00
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15.
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South African Rand
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5.00
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4.65
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16.
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Swedish Kroner
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8.20
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7.90
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17.
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Swiss Franc
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67.60
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65.35
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18.
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UAE Dirham
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18.15
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17.00
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19.
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US Dollar
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65.40
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63.70
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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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58.40
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56.40
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2.
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Kenya Shilling
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64.60
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60.35
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[F.No.468/01/2017-Cus.V]
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