Late cut for MEIS applications for exports made in the Financial Year 2019-20

A relaxation has been provided for filing MEIS for 19-20 till 30-sep-2021 Now Budget won’t hold back Indian celebrations

for more details <<<click here>>>

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Foreign Trade Policy 2015-2020 extended for 6 months till September 2021

The Union Commerce and Industry Ministry today announced extension of the Foreign Trade Policy (FTP) of Government of India. The present Policy which came into force on 1st April 2015, was for 5 years and was extended thereafter upto 31st March, 2021. In view of the unprecedented situation arising out of the pandemic Novel COVID-19, which is persisting, the Government has decided to continue benefits under various export promotion schemes by extending existing Foreign Trade Policy by another six months i.e. up to 30th September, 2021 which will provide continuity in the policy regime. Similar extension is made in the related procedures, by extending validity of HandBook of Procedures.

Now Budget won’t hold back Indian celebrations

Exemption from payment of IGST and Compensation Cess on the imports made under Advance/EPCG Authorisations and by EOUs etc. has also been extended up to 30.09.2021. Similarly, validity period of the Status Holder Certificates is also extended. This will enable the Status Holders to continue to avail the specified facilities/benefits.

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A notification for extending the Foreign Trade Policy 2015-20 and a Public Notice for extending the validity of the existing Handbook of Procedures 2015-20 has been issued today.

source: Press Information Bureau, Govt. of India

Water taxis and ROPAX Ferries will be part of Mumbai’s transportation soon

Water taxi on 12 routes and ROPAX services on 4 new routes will start soon

for more details >>>click here<<<

Now Budget won’t hold back Indian celebrations

Customs (Verification of Identity and Compliance) Regulations, 2021

the Govt has notified Customs (Verification of Identity and Compliance) Regulations, 2021 w.e.f. 05th April , 2021

for details please <<<CLICK>>>

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FIRST TIME EVER IN A MONTH, INDIAN EXPORTS CROSSED US$ 34 BILLION IN MARCH 2021

INDIA’S MERCHANDISE TRADE: Preliminary Data for March 2021 released for details CLICK HERE

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Non Ferrous Metals Import Monitoring System (NFMIMS)

the Gove of India has notified Amendment in Import Policy of Copper and Aluminium under Chapter – 74 and Chapter – 76 of ITC (HS), 2017, Schedule-I (Import Policy) – reg.

COPPER IMPORT MONITORING SYSTEM & ALUMINIUM IMPORT MONITORING SYSTEM

• Import under 43 HS codes of Chapters 76 of ITC (HS), 2017, Schedule − I shall require compulsory registration under the Non Ferrous Metals Import Monitoring System (NFMIMS) as per DGFT Notification .

• Import Policy of specific iron & mines items appearing in Chapter 76 of ITC (HS), 2017, Schedule − I as given in Annex to DGFT Notification no 17 dated 5th September 2019 was changed from ‘free’ to ‘free subject to compulsory registration’ under Non Ferrous Metals Import Monitoring System (NFMIMS).

• Non Ferrous Metals Import Monitoring System (NFMIMS) shall require importers to submit advance information in an online system for import of items in the Annex. On submission of online data/information, the system will generate an automatic unique Registration Number. No manual documents are to be submitted to any public authority for this purpose.

• Importer can apply for online registration not earlier than 60th day and not later than 5th day before the expected date of arrival of import consignment The automatic Registration Number thus granted shall remain valid for a period of 75 days

• A registration fee of Rs 500 is prescribed

• Importer shall have to enter the Registration Number and expiry date of Registration in the Bill of Entry to enable Customs for clearance of consignment

>>>click here<<<

• Implementation date for additional HS codes covered under registration under Non Ferrous Metals Import Monitoring System (NFMIMS) vide Notification No. 33/2020−21 dated 28.09.2020 shall be 16th October 2020 i.e. Bill of Entry on or after 16.10.2020 shall require compulsory registration under NFMIMS. [Public Notice No. 19 dated 28.09.2020]

• Other related information
– On registration, a Unique Registration Number (URN) starting with ‘NFS’ will be sent to the IEC holders mobile/email id (as given in IEC database)
– NFMIMS also has the facility to view earlier online registrations. In addition, incomplete applications which have not been submitted for registration on the DGFT portal are also available in the NFMIMS for review and further action
– Any change in applicant’s mobile/email id will need to be first amended/updated in DGFT IEC database through the online IEC modification system
– Importers who fail to register their information/data on notified mines items in advance or are found to furnish incorrect data in the Online NFMIMS module will attract punitive action including action under FTDR Act, 1992
– Online Non Ferrous Metals Import Monitoring System (NFMIMS) is available on a 24X7 basis. However, in the interest of trade/importers, it is suggested that registrations are filed/obtained fairly well in advance to avoid disruptions in the business activity of the firm.

• Import under 43 HS codes of Chapters 76 of ITC (HS), 2017, Schedule − I shall require compulsory registration under the Non Ferrous Metals Import Monitoring System (NFMIMS) as per DGFT Notification .

• Import Policy of specific iron & mines items appearing in Chapter 76 of ITC (HS), 2017, Schedule − I as given in Annex to DGFT Notification no 17 dated 5th September 2019 was changed from ‘free’ to ‘free subject to compulsory registration’ under Non Ferrous Metals Import Monitoring System (NFMIMS).

• Non Ferrous Metals Import Monitoring System (NFMIMS) shall require importers to submit advance information in an online system for import of items in the Annex. On submission of online data/information, the system will generate an automatic unique Registration Number. No manual documents are to be submitted to any public authority for this purpose.

• Importer can apply for online registration not earlier than 60th day and not later than 5th day before the expected date of arrival of import consignment The automatic Registration Number thus granted shall remain valid for a period of 75 days

• A registration fee of Rs 500 is prescribed

• Importer shall have to enter the Registration Number and expiry date of Registration in the Bill of Entry to enable Customs for clearance of consignment

• Implementation date for additional HS codes covered under registration under Non Ferrous Metals Import Monitoring System (NFMIMS) vide Notification No. 33/2020−21 dated 28.09.2020 shall be 16th October 2020 i.e. Bill of Entry on or after 16.10.2020 shall require compulsory registration under NFMIMS. [Public Notice No. 19 dated 28.09.2020]

• Other related information
– On registration, a Unique Registration Number (URN) starting with ‘NFS’ will be sent to the IEC holders mobile/email id (as given in IEC database)
– NFMIMS also has the facility to view earlier online registrations. In addition, incomplete applications which have not been submitted for registration on the DGFT portal are also available in the NFMIMS for review and further action
– Any change in applicant’s mobile/email id will need to be first amended/updated in DGFT IEC database through the online IEC modification system
– Importers who fail to register their information/data on notified mines items in advance or are found to furnish incorrect data in the Online NFMIMS module will attract punitive action including action under FTDR Act, 1992
– Online Non Ferrous Metals Import Monitoring System (NFMIMS) is available on a 24X7 basis. However, in the interest of trade/importers, it is suggested that registrations are filed/obtained fairly well in advance to avoid disruptions in the business activity of the firm.

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good evening !

good evening !

good afternoon.

good afternoon.

Good Afternoon !

the updated version of the Central Goods and Services Tax (CGST) Rules, 2017 as amended upto 5th May, 2020 has been issued.

Kindly visit Govt publication website

want to shop <<click_here>>

The setting up of National e-Assessment Centre (NeAC) of the Income Tax Department is a momentous step – आयकर विभाग में फेसलेस ई-एसेसमेंट की शुरूआत होगी

Ministry of Finance

FM to inaugurate National e-Assessment Centre of Income Tax Department Tomorrow

Shall usher introduction of Faceless e-Assessment in the Income Tax Department

New Initiative shall impart greater efficiency, transparency and accountability in the assessment process

The Income Tax Department is ushering in a paradigm shift in its working by introducing faceless e-assessment to impart greater efficiency, transparency and accountability in the assessment process. There would be no physical interface between the tax payers and the tax officers.

The setting up of National e-Assessment Centre (NeAC) of the Income Tax Department is a momentous step towards the larger objectives of better taxpayer service, reduction of taxpayer grievances in line with Prime Minister’s vision of ‘Digital India’ and promotion of ease of doing business.

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Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will inaugurate  National e-Assessment Centre ( NeAC)  in New Delhi tomorrow in the presence of  Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs . Dr. Ajay Bhushan Pandey, Revenue Secretary, Shri Pramod Chandra Mody, Chairman, CBDT will also be present .  Officers of the Income Tax Department and other dignitaries shall also be linked through Multimedia Video Conferencing at Mumbai, Chennai, Kolkata, Delhi, Ahmedabad, Hyderabad, Pune and Bengaluru.

Under the new system, tax payers have received notices on their registered emails as well as on registered accounts on the web portal http://www.incometaxindiaefiling.gov.in with real time alert by way of SMS on their registered mobile number, specifying the issues for which their cases have been selected for scrutiny. The replies to the notices can be prepared at ease by the tax payers at their own residence or office and be sent by email to the National e-Assessment Centre by uploading the same on the designated web portal.

This is another initiative by CBDT in the field of ease of compliance for our tax payers.

source: Posted On: 06 OCT 2019 10:08AM by PIB Delhi

वित्त मंत्री कल आयकर विभाग के राष्ट्रीय ई-आकलन केंद्र का उद्घाटन करेंगी

आयकर विभाग में फेसलेस ई-एसेसमेंट की शुरूआत होगी

नई पहल आकलन प्रक्रिया में ज्यादा दक्षता, पारदर्शिता और जवाबदेही लाएगी

 

एसेसमेंट यानी आकलन प्रक्रिया में ज्यादा दक्षता, पारदर्शिता और जवाबदेही लाने के लिए फेसलेस यानी गुप्त ई-आकलन की शुरुआत कर आयकर विभाग अपनी कार्यप्रणाली में आदर्श बदलाव करने जा रहा है। अब करदाताओं और कर अधिकारियों का कोई आमना-सामना नहीं होगा।

नेशनल ई-एसेसमेंट केंद्र यानी राष्ट्रीय ई-आकलन केंद्र (एनईएसी) की स्थापना आयकर विभाग का बेहतर करदाता सेवा के बड़े उद्देश्य, करदाता की शिकायतों के निवारण की दिशा में एक महत्वपूर्ण कदम है। यह प्रधानमंत्री के ‘डिजिटल इंडिया’ के दृष्टिकोण और कारोबारी सुगमता को बढ़ावा देने के अनुरूप उठाया गया है।

केंद्रीय वित्त एवं कॉर्पोरेट मामलों की मंत्री श्रीमती निर्मला सीतारमण नई दिल्ली में कल केंद्रीय वित्त एवं कॉर्पोरेट मामलों के राज्य मंत्री श्री अनुराग ठाकुर की उपस्थिति में राष्ट्रीय ई-आकलन केंद्र (एनईएसी) का उद्घाटन करेंगी। इस अवसर पर राजस्व सचिव डा. अजय भूषण पांडेय, सीबीडीटी के अध्यक्ष श्री प्रमोद चंद्र मोदी भी उपस्थित रहेंगे। मुंबई, चेन्नई, कोलकाता, दिल्ली, अहमदाबाद, हैदराबाद, पुणे और बेंगलुरू से आयकर विभाग के अधिकारी व अन्य गणमान्य व्यक्ति मल्टीमीडिया वीडियो कॉन्फ्रेंसिग के जरिये जुड़ेंगे।

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नई प्रणाली के तहत, करदाताओं को अपने पंजीकृत ईमेल के साथ-साथ वेब पोर्टल www.incometaxindiaefiling.gov.in पर पंजीकृत खातों पर भी नोटिस मिलेंगे। पंजीकृत मोबाइल नंबर पर एसएमएस के माध्यम से भी समय पर अलर्ट भेजे जाएंगे। इसमें उन मामलों की जानकारी दी जाएगी, जिन्हें जांच के लिए चुना गया है। इन नोटिस का जवाब करदाता अपने आवास या कार्यालय में आसानी से तैयार कर सकते हैं और राष्ट्रीय ई-आकलन केंद्र द्वारा नामित वेब पोर्टल पर उक्त को अपलोड कर ई-मेल से भेज सकते हैं।

यह करदाताओं के लिए अनुपालन को आसान बनाने की खातिर सीबीडीटी द्वारा की गई एक और पहल है।