EODC/Redemption Process for Advance Authorisation and EPCG Defined by DGFT EPCG/AA DGFT, on 06th April 2023 issued Trade Notice No. 01/2023-24 to define redemption/ closure process of EPCG and Advance Authorisation. Online application for redemption/closure of licence may be submitted by navigating to DGFT website –> Services –> AA / EPCG –> Closure of Advance […]
Amnesty EPCG/ Advance Authorisation Scheme Generally goods including capital goods or raw material can be imported on payment of custom duty. However, as per Foreign Trade Policy exporters can import capital goods or raw material without payment of custom duty, if they take EPCG/Advance Authorisation from DGFT, however for taking advantage of duty-free import, it […]
[slide-anything id=”49809″] Key Highlights: Foreign Trade Policy 2023 Key Highlights: Foreign Trade Policy 2023 Central Government notified the new Foreign Trade Policy 2023, in exercise of powers conferred by section 5 of Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) [FT (D&R) Act], as amended Directorate General of Foreign Trade (DGFT) […]
Finance Minister Nirmala Sitharaman chaired the 49th GST Council meeting today in Delhi with Minister of State for Finance Pankaj Chaudhary, her state counterparts and other senior officers. In the meeting Government of India has decided to clear the entire pending balance GST compensation of Rs. 16,982 crore for June’ 2022 A Gist of the […]
DGFT on January 20, 2023 issued a public notice no. 53/2015-20 to provide the big relief to EPCG authorisation holders in terms of Export Obligation Period as well as Average Annual Export Obligation required to be maintained by the EPCG Authorisation holder. A new sub – para 5.13(d) is added after para 5.13(c) of the […]
Director General of Foreign Trade (DGFT), on December 07, 2022 issued notification no. 47/2015-20 to amend the RODTEP Policy. Notification notified the a revised Appendix 4R under para 4.59 of Foreign Trade Policy, 2015-20 for export made from 15.12.2022 The revised Appendix 4R will be applicable for export made from 15.12.2022 to 30.09.2023. As an […]
CBIC on Thursday, November 10, 2022 issued circular no. 181/13/2022-GST for clarification on refund related issues in GST. Officials of CBIC Said that, “Representation have been received from the trade and field formation seeking clarification on various issues pertaining to the implementation of the notification no. 14/2022-Central Tax dated 05.07.2022, issued to amend the formula […]
After the guidelines issued by RBI on 11th July 2022 in relation to settlement of international trade in Indian Rupees, Industry was expecting the relief from central government in the norms of export promotion schemes. Now Central Government comes with amendments in foreign trade policy 2015-20 to allow the rupees settlement of international trade for […]
The Central Board of Direct Taxes on 27th October, 2022 issued Circular No. 21/2022 in F.No.275/25/2022-IT(B) to extend the deadline for filing quarterly TDS statement in Form 26Q for the June quarter by a month till November 30. Form 26Q is used for quarterly filing of TDS returns on payments other than salary. “Considering the […]
DGFT on 12th October 2022 issued public notice no. 30/2015-20 to Amend the SION Policy of various ‘Chemical and Allied Product’ (Product Code ‘A’) As an effect of the public notice SIONs A254, A257, A282, A1939, A1973, A2061, A2331, A2539, A2818, A3056, A3486 in regards to ‘Chemical and Allied Product’ suspended with the immediate effect