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Trade Notice No. 01/2022 dated 03.06.2022 is being published by the Noida Special Economic Zone Department. Attention is invited to the Notification No. 28/2022- Customs dated May 21, 2022 & Notification No. 29/2022- Customs dated May 21, 2022. The said…
Background: Section 51A of the Customs Act, 1962 (“the Customs Act”) requires every assessee to maintain Electronic Cash Ledger (“ECL”) in the customs portal. Every deposit made towards duty, interest, penalty, fee, or any other sum payable by a person under the provisions of…
Earlier, the CBIC vide Notification No. 11/2018-Customs dated February 2, 2018 notified exemption on certain specified goods from the whole of levy of Social Welfare Surcharge. Now, the CBIC vide Notification No. 24/2022-Customs dated April 30, 2022 has issued amendment…
The first schedule to the Customs Tariff Act, 1975 as effective from 01.05.2022 including the changes introduced vide Finance Act, 2022 is being published by Tariff Unit, Customs Policy Wing, North Block, Central Boar of Indirect Taxes and Customs. Since…
CBIC issues amending notification to align HS codes in Customs Tariff notifications with the Finance Act, 2022 w.e.f. 01.05.2022
CBIC notifies extension of exemption from Integrated Tax and Compensation Cess up to 30.06.2022 on goods imported against AA/EPCG authorizations
By, G Natarajan, Advocate, Swamy Associates Note: This article was published in TIOL The high rates of customs duties, the penchant for foreign articles and the volatile nature of our country’s border after its Independence has given rise to various…
By, Ramesh Chandra Jena, B.A. (Hons.), M.A. (Eco.), D.M.M., LL.B, ADVOCATE & TAX CONSULTANT The deferred payment of Customs duty means delinking duty payment and Customs clearance. It is based on the principle ‘Clear first-pay later’. The aim is to…
This article is also published in Excise Law Times- Vol-374-dated 15-11-2020 “Attachment” is a legal process being exercised by the judicial or non-judicial authorities for recovery of outstanding amount from the opposite party or recovery of tax dues from the…