Daily Updates

DGFT: Inputs imported by Advance Authorisation holders, EOUs and SEZ are exempted from mandatory Quality Control Orders (QCOs). Accordingly, list of Ministries / Departments [ i.e. Ministry of Steel, Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Textiles] are notified in Appendix 2Y of FTP, 2023 vide Notification No. 71/2023 dated …

DGFT: Inputs imported by Advance Authorisation holders, EOUs and SEZ are exempted from mandatory Quality Control Orders (QCOs). Accordingly, list of Ministries / Departments [ i.e. Ministry of Steel, Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Textiles] are notified in Appendix 2Y of FTP, 2023 (14.05.2024) Read More »

DGFT: Ministry of Mines have been added in the list of Ministries/Departments under Appendix 2Y (The list of Ministries/Departments whose notifications on mandatory Quality Control Orders (QCOs), that are exempted by the DGFT for goods to be utilised/consumed in manufacture of export products) of FTP, 2023, with immediate effect. [Public Notice No 04/2024-25 dated 10.05.2024] …

DGFT: Ministry of Mines have been added in the list of Ministries/Departments under Appendix 2Y (The list of Ministries/Departments whose notifications on mandatory Quality Control Orders (QCOs), that are exempted by the DGFT for goods to be utilised/consumed in manufacture of export products) of FTP, 2023, with immediate effect. (14.05.2024) Read More »

DGFT: Provisions relating to the payment of 10% of CIF value and 3% of shortfall in FOB value amounts specified in Para 4.49(a) (ii) and 4.49(b) respectively of Handbook of Procedures, 2023 are applicable only in cases where Advance Authorization is issued on or after 01.04.2023. [Policy Circular No. 02/2024-25 dated 03.05.2024]

DGFT: The SIONs as at Annexure “A” of this public notice have been observed to be inoperative over the last 5 years and the same shall be suspended with immediate effect. [Public Notice No. 03/2024-25 dated 03.05.2024]

DGFT: Import of Yellow Peas under ITC(HS) Code 07131010 is “Free” without the MIP condition and without Port restriction, subject to registration under online Import Monitoring System, with immediate effect for all import consignments where Bill of Lading (Shipped on Board) is issued on or before 31.10.2024. [Notification No. 12/2024-25 dated 06.05.2024]

DGFT: The export of 14,000 MT of Non-Basmati White Rice to Mauritius has been permitted through National Cooperative Exports Limited (NCEL). [Notification No. 11/2024-25 dated 06.05.2024]

DGFT: The export policy of Onions is amended from ‘prohibited’ to ‘free” subject to MEP of USD 550 per Metric Ton (MT) with immediate effect and until further orders. [Notification No. 10/2024-25 dated 04.05.2024]

Customs: Principal Chief Commissioner or Chief Commissioner of Customs shall conduct annual review of the requirement of G-Card holders at every Customs station under his jurisdiction in Customs Clearance Facilitation Committee (CCFC) meetings with the stakeholders. Outcome of such review should also be discussed in the meeting of Customs Consultative Group (CCG). This will facilitate …

Customs: Principal Chief Commissioner or Chief Commissioner of Customs shall conduct annual review of the requirement of G-Card holders at every Customs station under his jurisdiction in Customs Clearance Facilitation Committee (CCFC) meetings with the stakeholders.(08.05.2024) Read More »

Customs: UAE has introduced an additional security feature to the CoO format, involving the inclusion of a password. This step aims to enhance the authenticity and genuineness verification process of CoOs issued by UAE under the India-UAE Comprehensive Economic Partnership Agreement. [Instruction No. 11/2024-Customs dated 01.05.2024]  

Customs: Customs tariff notifications is amended to exempt applicable import duty on imports of desi chana (HS 0713 20 20) up to 31.03.2025; to impose export duty of 40% on exports of Onions (HS 0703 10); to extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of …

Customs: Customs tariff notifications is amended to exempt applicable import duty on imports of desi chana (HS 0713 20 20) up to 31.03.2025; to impose export duty of 40% on exports of Onions (HS 0703 10); to extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.10.2024.(08.05.2024) Read More »

DGFT Corrigendum issued to Public notice no. 01/2024 dated 9th Apr 2024 for correction of the import quantity of “Filter Aid” at S.No. 6 from 3600 Kg to 3.600 Kg.

GST: GSTN will be launching an enhanced version of the GST portal on 3rd May 2024. The effort is to improve user experience and ensure that the information needed is accessible and easy to navigate. Key Enhancements Include: News and Updates Section: A dedicated tab for all news and updates. This section now includes a …

GST: GSTN will be launching an enhanced version of the GST portal on 3rd May 2024. The effort is to improve user experience and ensure that the information needed is accessible and easy to navigate. (30.04.2024) Read More »

Income Tax: Excel Utility of ITR-6 for AY 2024-25 is available for filing under ‘Downloads’ button at e-filing portal.

Income Tax: Deductee/ collectee having PAN status as ‘Inoperative’ attracts higher TDS/TCS rates. However, for the transactions entered into upto 31.03.2024 with inoperative PANs, deductors/ collectors shall have no liability to deduct TDS/TCS at higher rate if PAN becomes operative on or before 31.05.2024. (Circular no 6/2024 dated 23rd April 2024)

Income Tax: CBDT has extended the due date for filing Form 10A and Form 10AB to 30th June 2024 for category of applicants as mentioned in the circular. (Circular no.7/2024 dated 25th April 2024)

DGFT: Export of white onion having ITC HS code 0703 10 19 up to an aggregate quantity not exceeding 2000 MT is allowed through the following ports taken together from the date on which this notification enters into force, namely: Mundra Port, Pipavav Port and Nhava Sheva/JNPT Port. Further, the above export is allowed subject …

DGFT: Export of white onion having ITC HS code 0703 10 19 up to an aggregate quantity not exceeding 2000 MT is allowed through the following ports taken together from the date on which this notification enters into force (25.04.2024) Read More »

DGFT  Time period for accreditation of Halal Certification Bodies and registration of Export Units have been extended by a period of three months i.e., up to 4th July 2024. (Notification No.8/2023 dated 23rd April,2024)

DGFT: The country-wise QR measures imposed on import of Isopropyl alcohol (IPA) under HS code 29051220, in terms of Notification No. 64/2015-20 dated 31.03.2023, have discontinued wef 01.04.2024 and import of IPA is now “Free” without any Policy Condition. (Trade Notice No.02/2024-25 dated 18th Apr,2024)

Income Tax The Income Tax Return forms ITR-1, ITR-2, ITR-4, and ITR-6 for Assessment Year 2024-25 are now accessible for filing through both Offline and Online modes on the e-filing portal. The Excel utilities for ITR-1, ITR-2, and ITR-4 for Assessment Year 2024-25 can be found under the ‘Downloads’ section of the e-filing portal.

DGFT: Export of essential commodities under Prohibited/restricted category to the Republic of Maldives during 2024-25 shall be permitted only through the following 4 Customs Stations: – Mundra Sea Port Tuticorin Sea Port Nhava Sheva Sea Port (JNPT) ICD Tughlakabad [Notification No.6/2023 dated 15th April 2024]