Page 28 - Tnc Rajagopalan/workspace/business Standard Web/video

Next Budget should be more reformist

'Unregistered dealers permitted to claim refund of Special Additional Duty'

Determining when it's a shift in title

'Duty credit scrips can be used to pay customs duties in cases of default'

'Manufactured goods and trading goods should not get mixed up'

'Electronic shipping bill shall be treated as claim for drawback'

'No service element in sale of prospectus, admission forms'

Exim Matters: Can govt fights be kept out of court?

'Service tax refund can be claimed if Cenvat credit has not been availed of'

'No bar on utilisation of SHIS for the import of second-hand capital goods'

Foreign Trade Policy does not specifically deal with such a situation. The normal rule of interpretation is that any ambiguity in a beneficial legislation must be resolved in favour of the citizen

'Revenue-neutrality plea not sustainable with reference to terminal excise duty'

One's expectations from Jaitley tenure

Jaitley did the bulk of the spadework for a separate legislation on SEZs. Kamal Nath built on it to get the SEZ Act through in 2005

No waiver of interest in cases of export default under EPCG scheme

'If CBEC fails to dispose of refund claim in 90 days, firms can take up grievance'

As per Section 27A of the Customs Act, 1962, for interest payment, the time limit of three months kicks in when the order for refund is made

'If export proceeds fall short, drawback must be surrendered'

For the procedure for getting factory stuffing permission, you may refer to JNPT Customs House Public Notices

Handling graft in exim trade

They deal with a number of government agencies but corruption is not the norm everywhere

'Advance authorisation scheme applies irrespective of currency of realisation'

Exim Matters: Keeping place as global trade rises

WTO forecast for 2014 premised on an assumption of 3% growth in global GDP at market exchange rates

RBI relaxes some import/forex rules

The Reserve Bank of India (RBI) has liberalised the procedure for facilitating the import of rough diamonds (termed roughs in the trade)

'Customs must be paid on unused value of inputs'

In case of short realisation of export proceeds, proportionate drawback has to be surrendered, as per RBI Master Circular on export of goods and services