CBIC Notification – Week 3
1. Notification No. 05/2023 – Customs (NT) dated 19th January, 2023.
An increase and decrease in the exchange rate will facilitate to increase in exports and a decrease in imports giving grace to the domestic market.
2. Notification No. 03/2023 – Central Excise dated 16th January 2023.
The Central excise seeks to reduce the Special Additional excise duty on the production of Petroleum crude from Rs. 2100/- to 1900/- and the export of Aviation Turbine fuel from 4.50/- to 3.50/-
3. Notification No. 04/2023 – Central Excise dated 16th January, 2023.
The Central excise seeks to reduce the Special Additional excise duty on Diesel from Rs. 5.00 per litre to 3.50 per litre.
DGFT Notification – 03rd week
1. Trade Notice No. 25/2022-23 dated 17th January, 2023.
Streamlining of Halal Certification Process for export of Meat and Meat Products from India, the draft guidelines on Halal Certification for export of meat and its products are proposed.
2. Public Notice No.51/2015-20 dated 17th January,2023.
The existing “Stock and Sale” of SCOMET items Policy under paragraph 2.79 A of Handbook of Procedures(HBP) of the Foreign Trade Policy (FTP) 2015-20 has been amended to revise the applicability of the policy for export from the Indian Subsidiary of Foreign Company(Applicant exporter) to its foreign parent company and allow repeat order authorization under the Stock and sale policy
3. Public Notice No. 52/2015-20 dated 18th January, 2023.
Amendments in Para 4.42 of the Handbook Procedures 2015-2020 to simplify the process of levying Composition Fee in case of extension of Export Obligation Period (EOP) under Advance Authorisation Scheme and higher IT enablement of DGFt.
4. Public Notice No. 53/2015-20 dated 20th January, 2023.
One time relaxation from maintaining Average Export Obligation and maintaining Average export obligation and option to avail extension in Export Obligation period for specified EPCG authorisations is provided on account of COVID 19 Pandemic, subject to fulfilment of conditions. This is in addition to EO Extensions facility (upon payment of the compensation fees) already provided in FTP/HBP.