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News –18 May 2012
What's New...
Sugar Contract Email Registration with DGFT Procedure – Export Permitted on Cash Against Documents Basis Also
DGFT Notifies 58 SEZ Ports Codes for Online Filing Applications
Powers of Customs Officers in Cargo Handling
17 May 2012
Indo-Singapore FTA – Full Basic Customs Duty Exemption – HS 2007 Codes Replaced by New HS2012 Codes
Nil Duty under Indo-Singapore FTA –HS 2007 Codes Replaced by New HS2012 Codes
50 percent Duty of the Normal Duty under Indo-Singapore FTA - HS 2007 Codes Replaced by New HS2012 Codes
Sanitary Towels Import at 6.67% Duty under Indo-Singapore FTA
Haining Tianfu Wrap Knitting China and Manna Korea Notified under New Shippers Review in PVC Flex Provisional Assessment without Anti-dumping Duty Allowed
No Anti-dumping Duty on Chinese Curing Press for Bi-cycle Tyres
Another Five Years of Anti-dumping Duty on Dry Cell Batteries from China in Review
Sugar Export Authorisation by Sugar Directorate Dropped, only DGFT Registration Required
Sugar Contract Email Registration with DGFT Procedure – Advance Payment/LC Required
Betel Nut Import under Advance Authorisation – SION Tightened
Changes in Tariff Value - Brass Scrap Up by US$64/MT, Silver Down by US$91 per kg and Gold US$34 per 10 grams
Rupee Value under Indo-USSR Deferred Payment Protocol Revised to Rs. 73.305676 from 26 April 2012
Punjab Introduced Compulsory Return for All Import and Export Consignments
RBI Clarification on Foreign Investment in NBFC Sector under FDI
16 May 2012
Electronic Multifunction Devices under MRP Based Assessment, Audio, Video Discs Removed from List
US Puts India, China, Pak on IPR ‘Priority Watch List’
Bayer Challenges India Compulsory License Ruling
EU, US Ink Mutual Recognition Customs Deal
Consensus Proves Difficult as Rio+20 Conference Approaches
11 May 2012
Onions Export Allowed without MEP for Two Months
CBEC Clarifies Parallel Imports are Ok and within the Law
Email Procedure for Cotton RCs
Payment Detail of LC or FIRC Must for Cotton RC Applications
Another Five Years for Anti-dumping Duty on Viscose Filament Yarn from China
Shopping Lists for Indo-China Border Trade Enlarged
EOUs Cannot Supply Marble in DTA under Para 6.9 of FTP
Service Tax Incidence on Date of Payment vs Date of Invoice
PFY Gauntlet Bags SION Notified
Fraudulent Emails on Bribes by Mumbai Customs
RBI Permits NRIs Transfer Funds from NRO Accounts to NRE Accounts within Ceiling of US$1mn per Year
Limit for Forex Remittance for Miscellaneous Purposes Raised to US$25000 from US$5000 without Documentation including Form A-2
Borrowers should Provide Bifurcation of Utilization of ECB Proceeds for Rupee Expenditure in Form-83
Equity Shares Issue by Conversion of Imported Second-hand Machinery Investment Excluded under FDI under Government Route
FIPB Approval Required only for FDI Component for Foreign Investment in Commodity Exchanges
Risk Management and Inter Bank Dealings
RBI Decides to Fix Intraday Open Position Limit of the AD at Five Times the Net Overnight Open Position Limit
Exchange Earner's Foreign Currency (EEFC) Account
Export Credit of US$13mn to Mozambique for Financing of Solar Photo Voltaic Module Manufacturing Plant
India Set to Pass Thailand, Rival Vietnam as Top Rice Exporter
Exchange Rates for Customs Valuation Imports and Exports w.e.f April 1, 2012
Now on Sale
Big’s Easy Reference Customs Tariff 2012-2013
32nd Budget Edition
Arun Goyal
Editor
Goyal’s Tariff is the Bible for Trade. Garry Pursell, Australia
ISBN: 81-86234-48-9, Rs. 1490
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