YOUR QUERIES ON
Service Tax
Advance Licence
Deemed Export Benefit
Duty Drawback
E.O.U. / S.E.Z
E.P.C.G
D.E.P.B
Cenvat Credit
Custom Duties
Transfer Price
M.V.A.T
Cost Audit
Summary of important Circulars & Judgments Important Information
Report on Seminar on Service Tax held on December 16,2007 at Vashi, Navi Mumbai.
The Exporters can file the supplement claims for Drawback from 1st April 2007 at the revise rate for the tariff items “630503- Sacks & bags made of jute including hessian bags, sacking bags, jute soil savers etc and “3918909003-Mats / Rugs made of LDPE / LLDPE” according to the Notification No. 119/2007-Customs (N.T.) dated December 13,2007 issued by Government of India.15/12/2007
The Government of India has also revised the All Industry Drawback Rate and Value Cap mainly for Textile items to compensate the Exporters from rising Rupee vide Notification No. 120/2007-Cusoms (N.T.) and 121/2007-Customs (N.T.) dated December 13, 200715/12/2007
DGFT has amended Sub Para 4 of Para 2.67 as "In respect of exporters having their head office/registered office in State of Orissa, RCMC may be obtained from FIEO office in Bhubaneshwar irrespective of product being exported by them. However, exporters of minor forest produce from the State can also obtain RCMC from SHEFEXIL, EPC”. Vide its Public Notice No.90 dated December 11, 2007. 12/12/2007
DGFT has added Ghojadanga in the list of Land Customs Station vide its Public Notice No. 89 dated December 10, 2007.12/12/2007
USA Fed has reduced its Bench Mark Interest Rate to 4.25% on December 11,2007 12/12/2007
The Director General of Foreign Trade has issued a Policy Circular Number 20 dated 05/12/2007 with reference to guidelines issued to the Norm Committee for Advance Authorisation issued under Para 4.7 of the policy.-11/12/2007
Clarification regarding Appropriate authority for sanction and disbursement of drawback claims on supplies made by Domestic Tariff Area (DTA) units to units located in Special Economic Zone (SEZ) issued by CBEC vide its Circular No. 43/2007-CUS dated 05/12/2007 -10/12/2007
You can now download the summary of Important Notifications & Circulars for the month of November 2007 compiled by Shri R.Satyanarayana (GM-Fin & Accts) Lubrizol India Pvt Ltd. -09/12/2007
Next Monthly Meeting & AGM of the Association on 16th December 2007 -08/12/2007
More Export Products are included in All India Duty Drawback Scheme Vide Notification No 117 & 118/2007 Custom (N.T.) dated December 5, 2007 -08/12/2007
Rules for a 100% deduction of the profits and gains derived by an undertaking from the business of operating a hotel or from the business of building, owning and operating a convention centre notified by CBDT -04/12/2007
Government of India has issued a Notification No. 41 dated 06/10/2007 under Service Tax for giving the benefits of Refund of Service Tax paid on Seven Services to the Exporters. Now two more services are included in this vide notification number 42 dated 29/11/2007. -01/12/2007
Service Tax Exemption to Business Exhibition of goods by organizer of Business Exhibition to Certain Exporters notified by Notification Number 43 dated 29/11/2007-30/11/2007
DEPB Rate has been increased by DGFT-29/11/2007
News Update 
