Monthly Archives: November 2016

Rebate of State Levies on Exports

Rebate of State Levies on Export of Garments The Government of India has decided to adopt a mechanism wherein the rebate of State levies on garment exports is provided based on a budgetary allocation of the Ministry of Textiles under … Continue reading

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DEFERRED CUSTOMS DUTY PAYMENT SCHEME

Scheme of Deferred payment of Customs Duty Introduced by India Government of India through Circular No. 52/2016-Cus(F.No.450/81/2016-Cus IV) dated the 15th November, 2016 has drawn attention to Customs Notification No. 134/2016-Custorns (N.T) & 135/2016-Custorns (N.T.) dated 2nd November, 2016 permitting … Continue reading

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INDIA-USA BILATERAL MAP/APA

India–USA Bilateral Competent Authority MAP/APA The Bilateral Competent Authority Mutual Agreement Procedure (MAP) / Advance Pricing Agreement (APA) meeting between India and USA was held in Washington DC, USA during the last week of October, 2016. The discussions in the … Continue reading

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PRIMER ON DRAFT GST LAW OF INDIA

    The GST Act is divided into 25 Chapters, 162 Sections and 4 Schedules.   SUPPLY: Tax on supply of goods or services rather than manufacture / production of goods, provision of services or sale of goods. Supply includes: … Continue reading

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Liberalization of the Foreign Direct Investment Policy, 2016 by India

      Government of India has given its ex-post-facto approval for the FDI policy amendments announced by the Government on 20th June, 2016. The FDI policy amendments are meant to liberalise and simplify the FDI policy so as to provide ease of … Continue reading

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Permanent Residency Status to Foreign Investors in India

      Government of India  has approved the scheme for grant of Permanent Residency Status (PRS) to foreign investors subject to the relevant conditions as specified in the FDI Policy notified by the Government from time to time. The … Continue reading

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Rationalization of procedures in handling exporters obligations under EPCG authorizations

    Government of India Ministry of Finance: Department of Revenue Central Board of Excise and Customs (Drawback Division)  New Delhi through its instruction  dated 14th October, 2016  has prescribed the following mechanism for -Rationalization of procedures in handling exporters … Continue reading

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