Posted On:  1 week ago


CARO 2016 Applicability and its clauses

This Order may be called the Companies (Auditor’s Report) Order, 2016. It shall apply to every company including a foreign company as defined in the Companies Act, 2013 except:– A banking company as defined in the Banking Regulation Act, 1949. An insurance company as defined under the Insurance Act,1938. A company licensed to operate under section 8 of the Companies Act.

article author CA Chirag Chauhan

Posted On:  1 week ago


Rate of exchange of conversion of foreign currency WEF 17.03.2017

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No. 14/2017-CUSTOMS (N.T.), dated 2nd March, 2017, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect

article author One Roof Consultant

Posted On:  3 weeks ago


No service-tax on museum entry fee during 01.07.2012 to 31.03.2015

Central Government vide Notification No. 09/2017-Service Tax, Dated: February 28, 2017 directs that the service tax payable on the services by way of admission to a museum under Section 66B of the Finance Act, 1994 for the period commencing on and from the 1st day of July, 2012 and ending with the 31st day of March, 2015, shall not be required to be paid.

article author One Roof Consultant

Posted On:  3 weeks ago


Rate of exchange of conversion of foreign currency WEF 03.03.2017

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.12/2017-CUSTOMS (N.T.), dated 16th February, 2017, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa

article author One Roof Consultant

Posted On:  3 weeks ago


Migration to GST of existing Central Excise I Service Tax Assessees

Please refer to my DO letter IV(33) 16/2016-Systems dt. 27th Jan, 2017 on the above subject regarding setting up GST Migration Seva Kendras for smooth transition of existing taxpayers to GST.

article author One Roof Consultant

Posted On:  4 weeks ago


Exemption from drawal of samples for the purpose of grant of drawback to the AEO certificate holders

I am directed to invite your attention to Circular No. 34/95-Cus dated 06.04.1995 prescribing the monetary limits and frequency of drawal of sample for purposes of grant of drawback and Circular No. 57/1997-Cus dated 31.10.1997 read with Circular No. 25/2005- Cus exempting certain exporters having in house testing facilities and where the samples have earlier been drawn by Central Excise authorities, from drawal of samples for purposes of grant of drawback.

article author One Roof Consultant

Posted On:  1 month ago


Export & re-import of cut & polished diamonds at zero duty

S.O. (E): In exercise of powers conferred by Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby makes following amendments in para 4.44 of Chapter 4 of Foreign Trade Policy 2015-20.

article author One Roof Consultant

Posted On:  2 months ago


Passing of order under Section 110 of the Customs Act, 1962

It has been brought to the notice of the Board that in several cases, goods arc being held-up/seized by the field formations only under panchnama and separate orders for seizure of goods are not being passed. The Hon’ble Delhi High Court, in a recent order, has held that a panchnama is a statement by panchas (witnesses) and cannot be taken to be an order passed by the proper officer under Section 110 of the Customs Act, 1962.

article author One Roof Consultant

Posted On:  2 months ago


Comprehensive Economic Partnership Agreement between India-Japan

circumstances in which there is clear evidence that increased imports of an originating good have caused or are threatening to cause serious injury to the domestic industry and where delay in imposition of provisional bilateral safeguard measure would cause damage to the domestic industry which would be difficult to repair; (b) “Director General” means the Director General (Safeguard) appointed by the Central Government under sub-rule (1) of rule 3 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997;

article author One Roof Consultant

Posted On:  2 months ago


Classification of articles of paper and printing industry

Representations have been received from trade associations that consequent upon insertion of Chapter note 14 (w.e.f 28.05.2012) to the Chapter 48 of Central  Excise Tariff Act, 1985 disputes have cropped up in respect of classification of  certain articles of paper and printing industry. Also, reports received from field formations suggest that there is divergent practice of assessment of these goods.

article author One Roof Consultant

Posted On:  2 months ago


Reduction of Government litigation – providing monetary limits for filing appeals by the Department before CESTAT

In exercise of the powers conferred by Section 35R of the Central Excise Act,1944 made applicable to Service Tax vide Section 83 of the Finance Act,1994 and Section 131BA of the Customs Act,1962 and in partial modification of earlier instruction issued from F.No. 390/Misc./163/2010- JC dated 17.12.2015, Central Board of Excise & Customs fixes the monetary limit below which appeal shall not be filed in the High Court as Rs.20,00,000

article author One Roof Consultant

Posted On:  2 months ago


Levy of anti-dumping duty, imposed on Saccharine originating in or exported from China

Whereas, the designated authority vide notification 15/23/2016- DGAD, dated the 10th January, 2017, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 10th January, 2017, has initiated review, in terms of sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), and in pursuance of

article author One Roof Consultant

Posted On:  2 months ago


Anti-dumping duty on Nylon Filament extended up to 12.01.2018

Seeks to extend the levy of anti-dumping duty, imposed on Nylon Filament yarn originating in or exported from China PR, Chinese Taipei, Malaysia, Indonesia, Thailand and Korea R.P under notification No. 03/2012-Customs (ADD), dated the 13.01.2012, for a further period of one year from the end date of Anti-Dumping Duty imposed vide Notification No. 03/2012-Customs (ADD), dated 13.01.2012, i.e. upto and inclusive of the 12.01.2018

article author One Roof Consultant

Posted On:  2 months ago


Rate of exchange of conversion of foreign currency WEF 20.01.2017

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No. 1/2017-CUSTOMS (N.T.), dated 05th January, 2017, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto,

article author One Roof Consultant

Posted On:  2 months ago


Import of point of sale (PoS) terminal devices, its cells & batteries and labelling requirements thereof

The government has vide notification No. 35/2016-Central Excise, dated 28.11.16 exempted excise duty on Point of Sale (PoS) devices and also goods required for their manufacture. These devices are already exempted from customs duty. PoS devices are indispensable in a cashless digital payment ecosystem.

article author One Roof Consultant

Posted On:  2 months ago


Amendments effective from 15.01.2017 to the All Industry Rates of Duty Drawback

The Government considered representations, feedback and data related to the All Industry Rates (AIR) of Duty Drawback that took effect on 15.11.2016 and has notified certain changes vide Notification No. 03/2017-Customs (N.T.) dated 12.01.2017. These changes take effect from 15.01.2017. The notification should be downloaded from www.cbec.gov.in and perused. The changes made, inter-alia, include

article author One Roof Consultant

Posted On:  2 months ago


Evidence of Import under Import Data Processing and Monitoring System (IDPMS)

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 05 dated October 06, 2016 read with Section 5 and Section 10 of the Foreign Exchange Management Act 1999 (42 of 1999), Government of India Notification No. G.S.R. 381(E) dated May 3, 2000 viz., Foreign Exchange Management (Current Account Transaction) Rules, 2000 on import of goods, FED Master Direction No. 17 dated January 1, 2016 on Import of Goods and Services and A.P. (DIR Series) Circular No. 9 dated August 24, 2000 which outlines the procedure, mode/manner of payment for imports and submission of related returns.

article author One Roof Consultant

Posted On:  2 months ago


Regarding amendment in Notification no. 131/2016-Customs (N.T.) dated 31.10.2016 relating to AIR of duty drawback

In exercise of the powers conferred by sub-section (2) of section 75 of the Customs Act, 1962 (52 of 1962), sub-section (2) of section 37 of the Central Excise Act, 1944 (1 of 1944), and section 93A and sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), read with rules 3 and 4 of the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995, the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 131/2016 – Customs (N.T.), dated the 31st October, 2016, published vide number

article author One Roof Consultant

Posted On:  2 months ago


ST exemption on transportation of goods by a vessel & business facilitator service to bank

In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.25/2012-Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 467 (E), dated the 20th June, 2012, namely

article author One Roof Consultant

Posted On:  2 months ago


Person liable to pay service tax on transportation of goods by a vessel

In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), the Central Government, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 30/2012-Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 472 (E), dated the 20th June, 2012, namely

article author One Roof Consultant