Excise And Customs Duty

Carrying Adidas, Nike fakes to US? Customs can destroy counterfeit goods

An individual may possess one counterfeit item per type for personal use only, not for sale. Possession of quantities exceeding this limit is prohibited, as per US Customs and Border Protection rules

Air India pilots' unions flag concerns over duty timings, safety issues

Air India pilots' groupings have alleged that the airline management is "intimidating and coercing" some of their members to extend flight duty timings beyond the prescribed limits. The Indian Commercial Pilots Association (ICPA) and Indian Pilots' Guild (IPG) have written to Air India Managing Director and Chief Executive Officer Campbell Wilson flagging the issues. In their joint letter, dated January 28, the unions also claimed the airline's approach to extend the Flight Duty Time Limitation (FDTL) for pilots amounts to "compromising" with safety of the pilots besides violating established regulations. ICPA represents the narrow body pilots while IPG has members from the wide body fleet of Air India. It has come to the notice that some pilots are facing intimidation and coercion to extend their FDTL beyond the prescribed limits by the Director of Operations and base managers, including threats of jeopardising their career progression, the letter said. The unions also termed the

LS passes Bills to cap age of GSTAT Prez, effect Budget duty changes

The Lok Sabha on Tuesday passed a Bill that seeks to give immediate effect to the changes in customs and excise duties announced in the Budget. The House after a brief discussion on the Provisional Collection of Taxes Bill 2023, passed the Bill by voice vote. Jayant Sinha (BJP) and B V Satyavathi (YSRCP) participated in the brief discussion on the Bill which is aimed at curbing speculative activities following changes in customs and excise duties in the Budget. Moving the Bill for passage, Finance Minister Nirmala Sitharaman said, the Provisional Collection of Taxes Bill, 2023 seeks to obtain the authority from Parliament to provisionally levy and collect the newly imposed or increased duties of customs and excise for 75 days. This Bill proposes to replace the erstwhile Provisional Collection of Taxes Act, 1931 with a minor change that is technical in nature. The provisions of the Bill empower collection provisionally, during the period between the introduction and enactment of th

Chennai tribunal gives split verdict over GST on salaries to expats

The issue dealt with by Cestat was limited to the question of valuation and arriving at the taxable value and not the taxability of the transaction

Delhi excise dept asks people to get P-10 license for liquor in weddings

In view of the wedding season, the Delhi government's excise department has requested people to get temporary P-10 licenses to ensure liquor was consumed properly in a responsible manner on such occasions, officials said Monday. An excise department officer said drinking in public during the wedding season needs to be curbed and people should avoid it by serving liquor in a proper manner by obtaining a requisite permit. Sale of liquor picks up in November and December when the wedding season is in full swing in Delhi, necessitating P-10 licenses for serving liquor at marriage parties, he said. However, as per official data, a total of 1,716 P-10 licenses were issued in October and November this year, despite a rise in the number of festival and wedding functions. P-10 licenses are issued for serving liquor at parties and functions. The fee for it is Rs 15,000 for parties held at banquet halls, motels and farmhouses and Rs 5,000 for any other place. For private parties and function

WCO-IAPH guidelines for customs, ports released

The WCO is an intergovernmental organization of 185 member countries, whose customs administrations process over 98 per cent of international trade

AAP used excise scam to generate illegal funds, caused Rs 2,873 cr loss: ED

The ED has claimed in its charge sheet before a court here that the Delhi Excise Policy, which caused total loss of Rs 2,873 crore to govt exchequer, was a device created by Aam Aadmi Party (AAP) leaders, some of who are part of Delhi government, to generate illegal funds. In its first charge sheet filed in the scam, the agency alleged that the constitution of expert committee and calling of public opinion were merely eyewash and their reports were never to be implemented. The policy was formulated with deliberate loopholes, inbuilt mechanism to facilitate illegal activities and is marred with inconsistencies which when looked deeply, reflect malafide intentions of the policymakers, it alleged. This policy promoted cartel formations through back door, awarded exorbitant wholesale (12 per cent) and huge retail profit margin of 185% and incentivized other illegal activities on account of criminal and political conspiracy of leaders of AAP, it alleged, adding that the 12 per cent profi

Customs, excise mop-up likely to see Rs 1-trillion shortfall in FY23

Duty cuts on edible oil, petro products to blame; may not hit overall collection

CBIC offers clarity on classification of cranes for GST, customs duty

Experts say this would reduce litigation in courts, as different classes of cranes attract different tax rates

Delhi govt to open 500 liquor stores as old excise duty policy returns

Under the Excise Policy-2021, Delhi government withdrew itself from the liquor sale business and allowed the issuance of L-1 licences for 849 private retail liquor vendors through open bidding.

Gold, electronic goods worth Rs 3.09 crore seized at Chennai airport

Over six kilograms of gold and electronic goods worth Rs 3.09 crore were seized in multiple incidents at the airport here in the last two days, the Customs department said on Friday.

Customs dept puts gold, 8 more items under controlled delivery regulation

The customs department has issued controlled delivery regulations authorising officers to track suspicious consignments of items, including gold, precious stones, drugs and cigarettes. The move, an official said, is aimed at checking smuggling and to trace the real culprit. As per the Controlled Delivery (Customs) Regulations, 2022, a customs officer at the ports can earmark both export and import consignments for controlled delivery on "reasonable belief" that it is "suspect". The list of items under the regulation are narcotic drug and psychotropic substances; gold, silver in all forms, precious and semi-precious stones, liquor; currency; cigarettes, tobacco; wildlife products and antiques. As per the regulations, the customs officer can, if needed, install tracking devices to monitor the movement of suspect consignment. According to a gold industry expert, this regulation can be applied to any movement by the Directorate of Revenue Intelligence or other agencies like ED, which

FinMin extends duty exemption on raw cotton imports till October 31

The finance ministry has extended the exemption of customs duty on raw cotton imports by a month till October 31. On April 14, the ministry had given exemption from the duty and Agriculture Infrastructure Development Cess (AIDC) till September 30, 2022, for import of cotton to lower prices in the domestic market. In a notification dated July 4, the ministry extended this till October 31, 2022. Amid rise in cotton and yarn prices, the textiles ministry had been pitching for an extension of the duty waiver beyond September. Industry too had been demanding extension of the duty-free import of cotton. Before April 14, raw cotton imports attracted 5 per cent Basic Customs Duty (BCD) and an equal percentage of AIDC. The exemption from duty would benefit the textile chain -- yarn, fabric, garments and made-ups -- and provide relief to consumers. Cotton prices have increased from Rs 44,500 per candy in February, 2021, to Rs 90,000 per candy in March 2022. Each candy weights 356 kilogram.

Centre's excise duty cut: Industries urge states to give similar relief

India Inc, traders and exporters have welcomed the Centre's move to slash excise duty on auto fuels and urged states to follow suit to provide more relief to consumers. They said the price cut would lower inflation on account of lower cost of transportation. CII welcomes the government's move to cut excise duty on fuel, which will help bring down inflation levels. The government's swift action shows its intent to bring down the burden on the common man, in addition to bringing down input cost for many sectors," CII President Sanjiv Bajaj stated. He expressed hope that following the Centre, state governments will also respond in the same manner, bringing further relief. Assocham Secretary General Deepak Sood tweeted expressing gratitude to the government "for anti-inflationary measures" including the excise cut on petrol and diesel. He said these measures "will have a positive spiral impact" on reining in inflation. The Confederation of all India Traders (CAIT) said the fuel price

Indian steelmakers face hit on Europe deals over export tax: JSPL executive

Due to a hit taken by steelmakers based in India, they would be forced to cancel European orders amid an excise cut of 15%

Budget: Assocham requests govt to remove custom duty on copper concentrate

Industry body Assocham has urged the government to reduce the customs duty on copper concentrate from the present 2.5 per cent to zero

iPhone maker Foxconn says customs clearing procedures in India resolved

Foxconn's customs clearance for cargo logistics in India has been resolved and all local regulatory procedures have been complied with, Foxconn said in a filing to Taipei stock exchange

Gold, silver utensils imports at nominal duty blocked

The new notification says any alloy in which the gold content is not less than 37.5 per cent by weight is covered