Page 22 - Tnc Rajagopalan/workspace/business Standard Web/video

Simplicity as seen by tax officials

The Central Board of Indirect Taxes and Customs has said Integrated Goods and Services Tax will not be payable on in-bond sales of goods in a bonded warehouse

Clarification on import by EOUs

Under the new procedure, EOUs are required to provide information in duplicate to the jurisdictional customs authorities regarding estimated quantity and value of goods to be imported

If recipient fails to pay supplier in 180 days, he loses ITC and interest

So, you lose the credit if you don't pay within 180 days but can take the credit if you pay later

Finance Bill: Seeking clarity in Customs laws

It was always difficult for the trade as well as the Customs officers to keep track of the provisions and changes in the allied laws

Recent changes in central GST

E-way bills will now not be required for exempted goods (except de-oiled cake), non-GST goods and goods transported that are not considered as supplies

Collection issues with GST regime

To be fair, collection of a mere Rs 3070 million from about 1.7 million composition dealers in the July-September quarter is a surprise

WTO chief's advice relevant for us, too

The Government of India said it had the support of over 100 member-countries on all agricultural issues

More of the GST rules thicket

GSTN should quickly resolve these issues

Another set of new GST procedures

In respect of supplies regarded as deemed export, GST must be paid and application for refund of tax paid may be filed

Hope for exporters on GST minuses

Sushil Kumar Modi will be assisted by four ministers from different states and top executives of the GSTN

'IGST on high-seas sale of imports is levied only during customs clearance'

Value addition in each high-seas sale to form part of value on which IGST is collected at clearance

Looking back and forward on I-Day

We have come a long way since then and trade policy has played an important role in this journey

DGFT slackness on needed GST detail

Exporters are hit hard due to denial of GST exemption on their imports or procurements

From the finer print in GST

In the coming GST regime, imported goods attract IGST instead of present additional customs duty

Boomerang here from GST policy

GST Council has not fixed tax rate for transfer/sale of duty credit scrips or authorisations/licence

Don't keep exporters in suspense on GST

No GST need to be paid on goods or services that are exported or supplied to an SEZ

When two hands don't coordinate

Some banks refuse to give FIRC to exporters of services saying FEDAI restrains them from doing so

Don't dump EPCG scheme for now

At present, the basic duty rates on most capital goods is 7.5 per cent

Expectations from new WTO pact

Last week, the Trade Facilitation Agreement (TFA) of the WTO came into effect

T N C Rajagopalan: This hasn't been a year to cherish

The year's high point was amendment of the Constitution to enable introduction of GST