Paper import policies clarified by DGFT
The DGFT has issued a clarification on the implementation of the Paper Import Monitoring System (PIMS) for certain products under Chapter 48 of the ITC (HS) schedule. As per the recent policy circular, all...
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DGFT Announces One-Time Relaxation for Export Obligations in Hotel, Healthcare, and Educational Sectors
The Government of India’s Ministry of Commerce and Industry has announced a one-time relaxation for export obligations for hotel, healthcare, and educational sectors under the Export Promotion Capital Goods (EPCG) scheme. According to a...
Tax Research Unit Issues Clarifications on Rates, Classification and Applicability of GST on Certain Goods and Services
The TRU (Tax Research Unit) has issued two circulars providing clarifications on GST rates, classification and applicability of certain goods and services. The first circular addresses specific goods such as Rab, by-products of milling...
Amendments to Para 4.42 of the Handbook of Procedures 2015-2020 for Export Obligation and Composition Fee
This Public Notice from the Director General of Foreign Trade amends the provisions of Para 4.42 of the Handbook of Procedures 2015-2020. The notice makes changes to the rules governing extension of export obligation...
India Proposes Streamlined Halal Certification Process for Meat and Meat Products Export
The Government of India’s Ministry of Commerce and Industry has announced draft guidelines for streamlining the Halal certification process for export of meat and meat products from India. According to the proposed guidelines, all...
CBIC Announces Changes to Excise Duty on Petroleum Crude, Aviation Turbine Fuel, and Diesel
The Central Board of Indirect Taxes and Customs (CBIC) has released two notifications regarding changes to excise duty on certain products. Notification No. 03/2023-Central Excise announces an increase in the Special Additional Excise Duty...
Issue of export authorization for ‘Stock and Sale’ of SCOMET items
The Director General of Foreign Trade, amending the paragraph 2.79A of the Handbook of Procedures (HBP) of the Foreign Trade Policy (FTP) 2015-20. This notice concerns the export authorization for “Stock and Sale” of...
Customs Brokers Licensing Examination 2023: Computer-Based Test Scheduled for March 18th, Pattern and Qualifying Criteria Announced
The Indian government has announced the schedule and pattern for the Customs Brokers Licensing Examination 2023. The examination, which is a requirement for obtaining a license to practice as a customs broker, is set...
Government of India Constitutes Committee for Determination of Duty Drawback Rates for 2023, Seeks Inputs from Export Promotion Councils, Industry Associations
The Government of India has announced the constitution of a committee for the review and determination of All Industry Rates (AIRs) of Duty Drawback for the year 2023. The committee will be taking into...
RBI Report on State Finances for 2022-23: Fiscal Health Improves but Debt Consolidation Still Needed
The Reserve Bank of India (RBI) has released a report titled “State Finances: A Study of Budgets of 2022-23” which provides information and analysis on the finances of Indian state governments for the 2022-23...
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