Blogs

1.Application fee for grant of import authorization [Trade Notice No.22/2018 dated 11.12.2017]:  

Said Trade Notice was issued to state that the application fee as prescribed in Appendix 2K of FTP2015-20 is the processing fee and the importers are required to submit their import authorisation applications at the Regional Authority along with the prescribed fee and simultaneously at DGFT(HQ). The importers shall note that the application for grant of import licence may only be...

1. Availability of Transitional credit for Traders: 

It is seen that based on the concerns raised by various exporters, government has immediately acted upon and created a mechanism in GST portal enabling exporters to claim refund of the taxes paid. This step has been widely appreciated and exporters are at ease as their issue of working capital has been now resolved. 

We urge government to immediately address the similar issue in case of traders wherein as per transitional...

Validity of Duty Credit Scripts [Public Notice 33/2015-20 dated 23/10/2017]:  

Duty Credit Scripts would be valid for a period of 18 months from the date of issue and must be valid on the date on which actual debit of duty is made.  

Further, Duty Credit Scripts issued on or after 01.01.2016 under chapter 3 would be valid for a period of 24 months from the date of issue and must be valid on the date on which actual debit of duty is made.  

Onetime condo nation of time period...