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News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : Custom

CBIC to launch additional disclosures from June 1 to fast-track clearances
Posted Date : 23-May-2023 , 08:31:25 am | Posted By CASANSAAR

The Customs Department is proposing to introduce additional disclosures for the export and import of medicinal products from June 1 to fast-track clearances of shipments. These additional disclosures, once introduced, will reduce queries of Customs officials, which are frequently posed to EXIM trade...

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Category : Custom | Comments : 0 | Hits : 625

Xiaomi Technology India Pvt Ltd evades customs duty of Rs 653 Cr - FinMin
Posted Date : 06-Jan-2022 , 08:48:46 am | Posted By CASANSAAR

The Finance Ministry has said that gadget manufacturer Xiaomi Technology India Private Limited has evaded customs duty of 653 crore rupees. Xiaomi India sales products under the MI brand. An investigation was initiated by the Directorate of Revenue Intelligence against Xiaomi India and its contra...

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Category : Custom | Comments : 0 | Hits : 1105

CBIC abolishes licence renewal requirement for customs brokers, authorised carriers
Posted Date : 26-Jul-2021 , 08:49:46 am | Posted By CASANSAAR

The Central Board of Indirect Taxes and Customs (CBIC) has done away with the requirement of periodic renewals of licence or registration issued to customs brokers and authorised carriers, a move which would reduce compliance burden for trade. The CBIC has amended the Customs Brokers Licensing Re...

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Category : Custom | Comments : 0 | Hits : 444

CBIC streamlines faceless assessment for faster customs clearance
Posted Date : 10-Jul-2021 , 09:45:53 am | Posted By CASANSAAR

The CBIC has streamlined certain processes in Customs faceless assessment under which a customs officer would have to communicate his 'first decision' on the import document filed by an importer within three working hours. In a circular to all principal chief commissioners of customs, the...

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Category : Custom | Comments : 0 | Hits : 594

CBIC suspends licences of 56 customs brokers linked with fraudulent exporters
Posted Date : 14-Sep-2020 , 09:01:11 am | Posted By CASANSAAR

The Central Board of Indirect Taxes and Customs (CBIC) on Sunday said it has suspended licences of 56 customs brokers linked with fraudulent exporters. The Directorate General of Analytics and Risk Management (DGARM) had carried out data analytics of customs brokers linked with fraudulent/unscrupulo...

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Category : Custom | Comments : 0 | Hits : 411

Customs to roll out pan-India faceless assessment for all imports by Oct 31
Posted Date : 07-Sep-2020 , 09:39:23 am | Posted By CASANSAAR

The Customs Department will roll out pan-India faceless assessment for all imported goods by October 31, the Central Board of Indirect Taxes and Customs (CBIC) has said. While faceless assessment for import of certain goods was already rolled out in Bengaluru and Chennai ports on June 8, it was exte...

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Category : Custom | Comments : 0 | Hits : 597

Govt appoints 3 members of Central Board of Indirect Taxes and Customs
Posted Date : 04-Aug-2020 , 10:40:02 am | Posted By CASANSAAR

  Bureaucrats Ajay Jain, Vivek Johri and Sungita Sharma have been appointed as members of the Central Board of Indirect Taxes and Customs (CBIC), according to a Personnel Ministry order. Jain and Johri are Indian revenue service (customs and central excise) officers of 1985 batch. S...

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Category : Custom | Comments : 0 | Hits : 353

CBIC invites suggestions on reviewing customs exemptions, laws
Posted Date : 27-Jul-2020 , 09:49:52 am | Posted By CASANSAAR

Kickstarting the process to review existing exemptions and laws of Customs, the Central Board of Indirect Taxes (CBIC) has invited suggestions from stakeholders on aligning the rules with the needs of changing times and ease of doing business. The CBIC has invited comments on the same by August 21. ...

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Category : Custom | Comments : 0 | Hits : 287

CBIC launches paperless customs export processing
Posted Date : 23-Jun-2020 , 09:47:07 am | Posted By CASANSAAR

The Central Board of Indirect Taxes and Customs (CBIC) on Monday launched paperless customs export processing, a move aimed at trade facilitation. "Chairman CBIC Sh. M Ajit Kumar and Members of the Board launched Paperless Customs Export processing under Turant Customs today through video confe...

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Category : Custom | Comments : 0 | Hits : 464

Import, export of goods without furnishing bonds to Customs authorities allowed - CBIC
Posted Date : 04-Apr-2020 , 10:55:55 am | Posted By CASANSAAR

The Central Board of Indirect Taxes and Customs (CBIC) on Friday allowed businesses to import and export goods without furnishing bonds to the customs authorities till the end of the month, a move aimed at facilitating trade during the lockdown due to the COVID-19 pandemic. In a circular, the CBI...

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Category : Custom | Comments : 0 | Hits : 371

Govt of India compulsorily retires 15 Senior Officers of the IRS (C &CE) with immediate effect
Posted Date : 19-Jun-2019 , 09:39:12 am | Posted By CASANSAAR

In exercise of the powers conferred by Clause (j) of Rule 56 of the Fundamental Rules, the President of India has retired 15 officers of Indian Revenue Service (IRS)(C&CE) in public interest with immediate effect on completing 50 years of age.  These Officers are of the rank of Principal Co...

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Category : Custom | Comments : 0 | Hits : 437

Govt eases norm for availing export benefits under MEIS
Posted Date : 05-May-2016 , 08:52:18 pm | Posted By CASANSAAR

Exporters have been relieved from submitting the landing certificate of goods to avail benefits under the Merchandise Exports India Scheme (MEIS).  According to Commerce and Industry Ministry, the move is aimed at improving ease of doing business in the country to promote exports, which are ...

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Category : Custom | Comments : 0 | Hits : 485

CBEC revises limit for arrest and prosecution substantially upwards
Posted Date : 24-Oct-2015 , 08:28:25 am | Posted By CASANSAAR

Persons involved in serious offences of tax evasion are liable for arrest and prosecution under the Central Excise Act, 1994, Finance Act, 1994 dealing with Service Tax and Customs Act, 1962. Central Board of Excise and Customs (CBEC) has issued instructions from time to time prescribing the procedu...

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Category : Custom | Comments : 0 | Hits : 732

Government of India makes changes in indirect tax rates, effective from today
Posted Date : 19-Oct-2015 , 08:53:45 pm | Posted By CASANSAAR

Government has made the following changes in indirect tax rates, effective from today, that is 19th October, 2015:  1) In view of the continued fall in international prices of wheat and the anticipated adverse impact of increased imports during the first half of this financial year, basic cu...

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Category : Custom | Comments : 1 | Hits : 1833

Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
Posted Date : 18-Sep-2014 , 10:37:11 pm | Posted By CASANSAAR

 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.75/2014-CUSTOMS (N.T.), dated the 4th September, 2014 vide number S....

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Category : Custom | Comments : 0 | Hits : 529

Customs to ask passengers about source of fund for buying Gold
Posted Date : 06-Mar-2014 , 10:32:45 pm | Posted By CASANSAAR

Seeking to check gold smuggling by courier, the government today tightened baggage rules requiring inbound Indian passengers to provide details like source of funds for importing the metal as well as their air tickets.  According to a Revenue Department circular, the baggage receipt issued by ...

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Category : Custom | Comments : 0 | Hits : 701

Government cuts tariff value on imported gold, silver
Posted Date : 17-Oct-2013 , 03:48:00 pm | Posted By CASANSAAR

The government reduced the import tariff value of gold and silver to $418 per 10 gram and $699 per kg, respectively, in line with global rates of the precious metals. The tariff value, the base price at which the customs duty is determined to prevent under-invoicing, stood a...

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Category : Custom | Comments : 0 | Hits : 325

CBEC to plead SC for relook at verdict on bailable offences
Posted Date : 16-Oct-2013 , 08:28:49 am | Posted By CASANSAAR

The Central Board of Excise and Customs (CBEC) will make a last-ditch effort to convince the Supreme Court to reconsider its judgement which held that offences under the Customs Act arebailable and an accused cannot be arrested without a warrant. A review petition filed by ...

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Category : Custom | Comments : 0 | Hits : 323

Customs Duty on Articles of Jewellery and of Goldsmiths’ or Silversmiths’ Wares Revised from 10 % to 15%
Posted Date : 18-Sep-2013 , 08:00:34 am | Posted By CASANSAAR

As part of measures to contain the current account deficit, the customs duty on gold has been revised upwards periodically in the past two years. Prior to 17th January 2012, the import duty on standard gold (of purity 99.5% & above) was Rs. 300 per 10 gm. The duty was raised to 2% w.e.f. 17th Ja...

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Category : Custom | Comments : 0 | Hits : 1281

Govt bans duty-free TV imports by Air Travellers
Posted Date : 20-Aug-2013 , 12:23:02 am | Posted By CASANSAAR

The government today banned duty— free import of flat screen television by air travellers in a bid to prop up rupee, which declined below the 63 level against US dollar.   The government, according to a notification, has decided to “disallow import of flat panel (LCD/LED/Plasma) t...

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Category : Custom | Comments : 1 | Hits : 588

CBEC Extends 24x7 Customs Clearance Facility for Export Cargo from 1ST July, 2013
Posted Date : 25-Jun-2013 , 04:28:41 pm | Posted By CASANSAAR

Beginning 1st July, 2013, Customs clearance of all export goods will take place on 24x7 basis from four major Air Cargo Complexes/airports i.e., Bangalore, Chennai, Delhi and Mumbai. Thus, all exports including those made under export incentives scheme as well as duty drawback scheme will now be abl...

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Category : Custom | Comments : 0 | Hits : 298

Change in Tariff Value of Gold Notified
Posted Date : 22-May-2013 , 09:41:01 pm | Posted By CASANSAAR

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC), being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of Ind...

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Category : Custom | Comments : 0 | Hits : 481

Fin Min detects Rs 400 cr custom duty, tax evasion
Posted Date : 12-May-2013 , 08:04:13 pm | Posted By CASANSAAR

In its bid to plug revenue leakage, the Finance Ministry has detected custom duty and service tax evasion of at least Rs 400 crore between January and March this year. The detection came after the Directorate General of Central Excise Intelligence (DGCEI) and Directorate General of Revenue Intellig...

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Category : Custom | Comments : 0 | Hits : 305

Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
Posted Date : 02-May-2013 , 08:05:43 pm | Posted By CASANSAAR

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.40/2013-CUSTOMS (N.T.), dated the 18th April, 2013 vide number S.O.993 (E)...

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Category : Custom | Comments : 0 | Hits : 327

BCCI chief N Srinivasan in CBI net for alleged tax evasion on imported cars
Posted Date : 23-Mar-2013 , 08:37:05 am | Posted By CASANSAAR

The CBI on Friday seized 11 cars belonging to BCCI chief and India Cements promoter N Srinivasan as part of its ongoing raids in Chennai, sources said. The sources added that Srinivasan had evaded paying tax on the imported cars.   Apart from Srinivasan, the CBI also raided the residences of ...

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Category : Custom | Comments : 0 | Hits : 334

Government asked to increase limit of duty free gold for NRIs
Posted Date : 02-Mar-2013 , 06:32:48 pm | Posted By CASANSAAR

An Indian American organisation has asked the Indian government to increase the limit ofduty free gold that an NRI couple can bring to India.The North American Punjabi Association (NAPA) in a statement has asked the Indian government to increase the limit to Rs 3 lakh from the current...

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Category : Custom | Comments : 0 | Hits : 226

Government raises import duty on gold to 6%
Posted Date : 21-Jan-2013 , 05:30:34 pm | Posted By CASANSAAR

The government has hiked the import duty on gold from 4 per cent to 6 per cent with immediate effect. The decision is aimed to rein in spending on gold by around a third to $38 billion in the fiscal year that ends in March. "... given the country's worrying current account deficit, we may be left w...

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Category : Custom | Comments : 0 | Hits : 440

Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
Posted Date : 17-Jan-2013 , 08:12:27 pm | Posted By CASANSAAR

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.1/2013-CUSTOMS (N.T.), dated the 3rd January, 2013 vide number S.O.37(E), ...

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Category : Custom | Comments : 0 | Hits : 322

Change in Tariff Value of RBD Palmolein, brass Scrap (All Grades) Poppy seeds, Gold and Silver Notified
Posted Date : 14-Dec-2012 , 06:46:37 pm | Posted By CASANSAAR

 In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of Indi...

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Category : Custom | Comments : 0 | Hits : 233

Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
Posted Date : 06-Dec-2012 , 10:10:17 pm | Posted By CASANSAAR

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.99/2012-CUSTOMS (N.T.), dated the 16th November, 2012 vide number S.O.2719...

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Category : Custom | Comments : 0 | Hits : 353

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