customs in media

Commerce ministry seeks views of departments on measures to revive SEZs, promote economies of scale: Official

byAdmin04/07/202404/07/2024

The commerce ministry has sought views of different departments on proposed measures to revive special economic zones and facilitate business transactions between SEZ and the domestic market, a senior official said on Monday. The official said that the ministry has suggested allowing the sale of products manufactured in Special Economic Zones (SEZs) in the domestic market on payment of duty foregone on inputs as that would help promote value addition.

customs in media

CBIC to launch automated currency exchange rate publishing system on July 4

byAdmin28/06/202428/06/2024

CBIC on Thursday said it will launch on July 4 Exchange Rate Automation Module (ERAM) system which will replace the existing manual process of notifying exchange rates through a notification.

customs in media

Customs department warns against new parcel fraud

byAdmin23/06/202423/06/2024

It is common advice not to cater to unknown calls but is not practically possible in our day-to-day lives. Counting on this habit, fraudsters are posing as fake courier staff or customs officers to scam you. They call you to inform that the customs department under the Central Board of Indirect Taxes & Customs (CBIC) has intercepted a parcel/package in your name.

customs in media

Govt restricts import of gold jewellery and parts amid unusual surge

byAdmin13/06/202413/06/2024

The government on Tuesday imposed restrictions on the import of gold jewellery and parts from all countries, except from its free-trade agreement (FTA) partner United Arab Emirates amid an ‘unusual surge’ in the inbound shipments.

customs in media

Customs Seizes Used Laptops, Computer Parts Worth Rs. 4 Crore In Mumbai

byAdmin12/06/202412/06/2024

The Customs department seized 4,600 used laptops and more than 1,000 computer parts of various brands worth Rs. 4.11 crore in Nhava Sheva, an official said on Monday.

customs in media

Abuse of ‘Rules of Origin’

byAdmin09/06/202409/06/2024

Customs authorities have started closely looking at such imports and have withheld consignments over concerns that FTA provisions are being abused – goods routed through countries with which India has a trade agreement and therefore eligible for lower import duty.

customs in media

India actively pursuing customs mutual recognition agreements with nations: CBIC chief

byAdmin24/05/202424/05/2024

India has signed mutual recognition agreements (MRAs) with customs authorities of seven nations and is actively pursuing negotiations for such pacts with other countries, a top official said.

customs in media GST in Media

Major rejig of Customs duty, GST being planned

byAdmin24/05/202424/05/2024

The government has identified a clutch of products where inverted duty structure is distorting trade and impacting manufacturing competitiveness and has initiated the process to address the issue, a senior official said.

customs in media

Govt recovers Rs 852 crore under amnesty scheme for exporters

byAdmin24/05/202418/06/2024

The government has recovered about Rs 852 crore under the amnesty scheme for exporters for one-time settlement of default in export obligation by the holders of advance and EPCG authorisations, an official said. The figures are likely to increase further as the exercise is on for the compilation of the data, the official added.

customs in media

Govt to handhold exporters for defending RoDTEP benefits

byAdmin15/05/202415/05/2024

The government is working out a mechanism to help exporters handle the investigations by importing countries on support extended to them under the Remission of Duties and Taxes on Exported Products (RoDTEP) that sometimes leads to the imposition of countervailing duties.