October 03, 2022, Monday

Chatroom: 'After imposition of moratorium, IBC prevails over Customs laws'

After initiation of CIRP, the liquidator can secure the imported goods from the Customs to be dealt with appropriately in terms ...

September 26, 2022, Monday

ITeS sector's growth prospects in FY23 augur well for SMEs: CRISIL

In FY22 the ITeS sector's revenue logged 13-15% growth to about Rs 3.1 tn, riding on volume recovery across the three key ...

September 19, 2022, Monday

'AIR DBK available on goods made solely from domestic inputs'

As a matter of rule, no evidence of actual duties suffered on imported or indigenous nature of inputs used, even if the AIR has ...

September 05, 2022, Monday

SME Chatroom: 'Assessable value can be different from invoice value'

There is a specific box in the bill of entry for Free of Charge (FOC) imports

August 30, 2022, Tuesday

CRISIL SME tracker: Export duty will hurt large steel players, spare MSMEs

MSMEs, which make up 90-95 per cent of re-rollers, witnessed a sharp margin contraction in FY21 owing to iron ore unavailability, ...

August 09, 2022, Tuesday

'Space availability certificate not required for filing in-bond B/E'

The requirement of producing the space availability certificate for clearance of goods to be deposited in a bonded warehouse has ...

July 27, 2022, Wednesday

Twin headwinds lash SMEs in gems and jewellery sector: Crisil SME Tracker

The rise in the prices of gold will also curb demand, though it will support the revenues of SMEs

July 26, 2022, Tuesday

SME Chatroom: 'SEZ units need to be net foreign exchange earners'

SEZ units have to only achieve positive NFE and so the Customs need not demand refund of customs duty on the inputs

July 11, 2022, Monday

SME Chatroom: Tribunal allows refund of CVD, special additional duty & cess

I suggest you claim refund of CVD, SAD and cess paid towards regularisation of the default under advance authorisation

July 06, 2022, Wednesday

SME EPC road contractors face shrinking margins as input costs spike

However, national highway projects are typically executed by large contractors, with only a small proportion sub-contracted to ...

June 27, 2022, Monday

SME Chatroom: 'IGCR Rules apply only when exemption notifications say so'

the duty concessions are available under exemption notifications and some of them mandate the procedures prescribed under the ...

June 13, 2022, Monday

'Supplies from DTA to SEZ attract export duty'

Duty credit allowed under the RoDTEP scheme is subject to realisation of sale proceeds within the period allowed by the RBI

May 30, 2022, Monday

'MOOWR is a duty deferment scheme'

There is no customs duty exemption for inputs used in the manufacture of capital goods in a bonded warehouse, even if they are ...

May 25, 2022, Wednesday

Revenue outlook bright for electronics SMEs: Crisil SME Tracker

Consumption of electronics in the domestic market is estimated to grow 15-20 per cent to Rs 11-12 trillion, compared with 18-22 ...

May 16, 2022, Monday

SME Chatroom: Banks can write off import entry in IDPMS over quality issues

RBI rules allow AD Category-1 banks to close BoE for such import transactions where write-off is due to short shipment or ...

May 02, 2022, Monday

SME Chatroom: Purpose of shipping mark to enable package to be identified

If an LC specifies the details of a shipping mark, the documents mentioning the marks should show these details; additional ...

April 26, 2022, Tuesday

Chemical MSMEs to log robust growth, margins stressed: CRISIL SME Tracker

MSMEs' double-digit revenue growth will be powered by improved price realisation

April 18, 2022, Monday

'Unconfirmed LC binds only the issuing bank to pay'

In a freely negotiable LC, any bank can negotiate the LC compliant documents, pay the party and claim reimbursement in accordance ...

April 04, 2022, Monday

'Commerce Ministry unaware EOUs are not bonded warehouses'

Apparently, the Commerce Ministry is not yet aware of these changes, and so, the SEZ Rules, 2006, remain unchanged.

March 28, 2022, Monday

Textile sector's growth to continue next fiscal as well: CRISIL SME Tracker

Margins will continue in the 10-12 per cent range in FY23 as well