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CBIC IMPORT RELIEF
Finance ministry may review MOOWR benefits for battery storage importsThe Finance Ministry is set to discuss customs warehousing benefits for imported battery storage systems. Industry groups have raised conce...- India waives port procedures for cargo forced to turn back due to Strait of Hormuz crisisIndia has eased import rules for export shipments returning home. This relief is for 15 days. Vessels can unload cargo at Indian ports with...
- Bombay HC stays GST demands on co-insurance premiumsThe Bombay High Court has granted interim relief to several insurance companies by staying GST demands on co-insurance premiums and ceding ...
- CBIC clarifies on display assembly of mobile phones for levy of 10 pc import dutyCBIC lists parts of mobile phone display assembly attracting 10% import duty. Concessional 10% customs duty on integrated display assembly....
- CBIC waives penalty, interest fee on account of technical glitchThe Central Board of Indirect Taxes and Customs (CBIC) has decided to enable Electronic Cash Ledger (ECL) in phases for importers and expor...
- Mobile handset assembly imports to attract 15% duty, 10% for display onlyImport of display assembly of cellular mobile phones along with back-support frames will attract a basic customs duty (BCD) of 10%, the Cen...
- Import Duty Exemption on Cotton Extended till Oct 31The extension will give relief to the textile industry as sowing of cotton crop was delayed in some regions due to patchy monsoon rainfall.
- Finance Ministry waives customs duty on cotton imports till September 30The Central Board of Indirect Taxes and Customs (CBIC) notified the exemption from customs duty and agriculture infrastructure development ...
- India exempts Covid-19 vaccine from import duty"The Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the descripti...
- Customs commissioners can decide security deposit in certain provisional assessments casesThe Board, through amendment of rules, has enabled principal commissioners and commissioners of customs to decide the amount of security re...
- CBIC sets four month deadline for closure of container depots & frieght stations, streamlines procedureFinance ministry in a statement Tuesday said the procedures will provide relief to custodians of such ICDs and CFSs since there was no dead...
- Govt exempts raw material imports of Amphotericin B and Covid testing kits till September endThe exemption is in line with the government's Make in India policy and likely to further bring down prices of the products for consumers, ...
- Government cuts import duty on crude palm oil to 10%Currently, customs duty on crude palm oil is 15 per cent, while it is 45 per cent for all other categories of palmolein (RBD Palm Oil, RBD ...
- Expedite customs clearance of cylinders, pressure vehicles for medical oxygen: CBIC to field officesThe Department for Promotion of Industry and Internal Trade (DPIIT) had earlier this month eased norms under Gas Cylinders Rules, 2016, to ...
- Govt waives IGST on import of COVID-relief material received as donation for free distributionTo avail the exemption, the state governments will have to appoint a nodal authority who shall authorise any entity, relief agency or statu...
- FinMin relaxes COVID-relief material import norms for Indian Red CrossIn instruction to field offices, the Central Board of Indirect Taxes and Customs (CBIC) said in the wake of the extraordinary situation ari...
- Importers can fill single-page form if difficulty in customs clearance of COVID-related itemsThe importers will be required to fill up the 'pre-intimation for prompt clearance of COVID related items' form giving details of the bill ...
- Government extends time for duty-free import of diamonds sent for certification"In view of COVID-19 pandemic situation, the government today extended relief to gems and jewellery sector by relaxing the requirement of r...
- CBIC allows refund of input tax credit accumulated on importsThe clarification was issued after trade flagged that input tax credit claims were being rejected by tax authorities since invoice details ...
- GST to be levied on goods stored in customs warehouse only on final clearance: CBIC"The supply of goods before their clearance from the warehouse would not be subject to the levy of integrated tax," the CBIC said in a circ...
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