|CBIC Notification – Week 42th|
1. Notification No. 60/2023 – Customs, Dated 19th October, 2023.
Seeks to amend notification no. 50/2017-Customs in order to implement recommendations made by the GST Council during its 52nd Meeting with respect to GST rates on goods.https://taxinformation.cbic.gov.in/view-pdf/1009891/ENG/Notifications
2. Notification No. 76/2023 – Customs (N.T.), Dated 19th October, 2023.
Exchange rate notification. There is an Increase and Decrease In the exchange rate of the foreign currencies.https://taxinformation.cbic.gov.in/view-pdf/1009892/ENG/Notifications
3. Notification No. 77/2023 – Customs (N.T.), Dated 13th October, 2023.
Revised All Industry Rates of Duty Drawback.https://taxinformation.cbic.gov.in/view-pdf/1009920/ENG/Notifications
4. Notification No. 34/2023 – Central Excise, Dated 17th October, 2023.
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude and reduce the Special Additional Excise Duty on export of ATF.https://taxinformation.cbic.gov.in/view-pdf/1009889/ENG/Notifications
5. Notification No. 35/2023 – Central Excise, Dated 17th October, 2023.
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022, to reduce the Special Additional Excise Duty on export of Diesel.
- against S.No.2, for the entry in column(4), the entry “Rs.4perlitre”shall be substituted.
|DGFT Notification – Week 42th|
1. Public Circular No. 05/2023-24 – Dated 16th October, 2023.
Clarification regarding subsequent re-import of unsold jewellery, exported for the purpose of exhibition abroad in terms of above paras under ITC(HS) codes 71131911 & 71131919 may be allowed clearance by custom authorities without import licence in compliance with applicable customs provisions.https://content.dgft.gov.in/Website/dgftprod/a7a537b3-ee8a-4b1d-9426 2ba123a1290f/Policy%20Circular%2005%20dt%2016-10-2023.pdf
2. Notification No. 36/2023 – Dated 18th October, 2023.
Restriction on export of Sugar (Raw Sugar, White Sugar, Refined Sugar and Organic Sugar) is extended beyond 31.10.2023 till further. Other conditions will remain unchanged.https://content.dgft.gov.in/Website/dgftprod/610fb252-8583-49db-91af-d30c7b7d988f/DGFT%20Notification%20No.%2036-2023%20dated%2018.10.2023-English.pdf
3. Notification No. 37/2023 – Dated 18th October, 2023.
Export of Non-Basmati White Rice (Under HS code 10063090) to Nepal, Cameroon, Cote d’ Ivore, Republic of Guinea, Malaysia, Philippines and Seychelles is notified.https://content.dgft.gov.in/Website/dgftprod/4c606476-77fb-458a-926f-59b00cd1d77a/DGFT%20Notification%20No.%2037-2023%20dated%2018.10.2023-English.pdf
4. Policy Circular No. 06/2023-24 – Dated 19th October, 2023.
Implementation of Import Management Systems for IT Hardware. Reference SEZ Rule 27 and Para 6.01(d) of the FTP 2023, SEZ units and EOUs/EHTP/STPI/BTP are not required to obtain a ‘restricted import authorisation’ for import of IT hardware restricted vide Notification 23/2023 dated 03.08.2023.https://content.dgft.gov.in/Website/dgftprod/7d029b5d-3992-4034-891d 13a3a69aaa64/Policy%20Circular%2006%20dated%2019-10-2023-.pdf
5. Trade Notice No. 30/2023 – Dated 19th October, 2023.
The last date for submission of information to the RoDTEP Committee in the designation formats as given in Annexure B (Part1 and Part 2) is 30th November 2023.https://content.dgft.gov.in/Website/dgftprod/e008c2ad-f142-4972-9dbd-5720a7492e81/Trade%20Notice%20No%2030-2023-24.pdf
6. Trade Notice No. 31/2023 – Dated 19th October, 2023.
Discontinuation of Issuance of Physical copy of Restricted Import Authorisation with effect from 19.10.2023https://content.dgft.gov.in/Website/dgftprod/625c6204-f9f5-45df-838e-0aedc76b30a8/Trade%20Notice%2031%2019-10-2023.pdf
7. Notification No. 38/2023 – Dated 19th October, 2023.
- Import of IT Hardware manufactured in SEZ into DTA and Import by private entities on behalf of Central and State Government entities , for Defence and security purposes shall be exempt from an import Authorisation
- Exemption from import authorisation is provided up to 20 items per consignment for R&D, Testing, Benchmarking and Evaluation, Product Development purposes. Exemption is further provided for import for repair and/or return and/or replacement of IT Hardware sold earlier as well as re-import of such items repaired abroad on self-certification basis.
|SEZ Online Notification – Week 42th|
Exchange rates vide notification 76/2023 effective from 20th Oct 2023 have been updated in SEZ Online.https://sezonline-ndml.co.in/