Category Archives: CBEC Customs

LATEST/ CURRENT RELATED PARTY ASSESSMENT PROCEDURE UNDER INDIAN CUSTOMS LAW

  RELATED PARTY TRANSACTIONS ARE MONITORED AND FINALIZED BY SPECIAL VALUATION BRANCH (SVB) FORMATIONS OF THE INDIAN CUSTOMS ADMINISTRATION BELOW IS A COMPREHENSIVE NOTE ON THE FUNCTIONING OF SVB:      1.Background                       Special Valuation Branch is an institution which specializes in the … Continue reading

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THE ISSUE OF LEVY OF MULTIPLE TAX ON THE SAME TRANSACTION IN INDIA

THE ISSUE OF LEVY OF MULTIPLE TAX ON THE SAME TRANSACTION IN INDIA -Many a time tax payers are misled into believing that since service tax has been discharged on import of services hence the same is not chargeable to … Continue reading

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Rate of exchange of conversion of each of the foreign currency with effect from 19th December, 2014

  Government of India, Ministry of Finance, Department of Revenue, Central Board of Excise and Customs, Vide its Notification No.116/2014-Customs (N.T.) dated 18th December, 2014 27 Agrahayana, 1936(SAKA), In exercise of the powers conferred by section 14 of the Customs … Continue reading

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Amends Exchange Rate notfn. 113/2014-Customs (NT) effective from 18thDecember, 2014 

Government of India, Ministry of Finance, Department of Revenue, (Central Board of Excise And Customs),Vide its Notification No.115 / 2014 – Customs (N.T.), dated 17th December, 2014, 26 Agrahayana, 1936 (SAKA), In exercise of the powers conferred by Section 14 of the Customs Act, … Continue reading

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Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

Government of India, Ministry of Finance (Department of Revenue), (Central Board of Excise and Customs), Vide its Notification No.114/2014 – Customs (N. T.) dated 15th December, 2014 24  Agrahayana, 1936 (SAKA), In exercise of the powers conferred by sub-section (2) of section … Continue reading

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Seeks to amend 012/2012 Customs dated 17.03.2012 so as to increase duty on crude and refined edible oils

  Government of India, Ministry of Finance (Department of Revenue), Vide its Notification No. 34 /2014-Customs, dated 24th December, 2014, In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), … Continue reading

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Amends Notification No. 12/97-CUSTOMS (N.T.), dated the 2nd April, 1997 

Government of India, Ministry of Finance (Department of Revenue), Vide its Notification No. 86/2014- Customs (N.T.), dated 18th September, 2014, 27, Bhadrapada, Saka 1936, In exercise of the powers conferred  by clause (aa) of sub-section (1) of section 7 of the Customs Act,1962 (52 of … Continue reading

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