Recent amendments relating to Importer-Exporter Code provisions in FTP Through this update, we would like to apprise you regarding recent amendments made in Foreign Trade Policy, 2015-20 (‘FTP’) relating to Importer-Exporter Code (‘IEC’). All IEC holders should update...
New functionalities available on GST portal This update is to apprise you regarding following important functionalities made recently available for taxpayers on the GST portal: Aadhar authentication for promoters and primary authorized signatory Rule 25 of the Central...
Budget 2021: Key Indirect Tax Proposals Union Budget 2021 had an overarching objective of ‘AtmaNirbhar Bharat’. The Finance Minister has proposed significant changes under both Direct and Indirect Tax laws. The Indirect Tax proposals mainly revolved around...
Rate of GST on parts and accessories of motor vehicles We apprised you that the revenue is disputing classification of parts and accessories of motor vehicles as adopted by taxpayers. As per the revenue, these goods fall under Headings 8708 and 8714 which cover ‘parts...
DGGSTI fixing hearings in Show Cause Notices issued demanding excise duty on drawings and designs Over past two years, DGGSTI has issued Show Cause Notices to more than 500 Component Manufacturers of one Automotive OEM across India. Vide these Notices, DGGSTI has...
Availability of benefits of Advance Authorization and EPCG along with RoDTEP – Confusion and Way Forward We shared detailed booklet on new export incentive scheme viz. Remission of Duties and Taxes on Exported Products (‘RoDTEP’) containing all information as...
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