Govt. notifies Regulations
to govern e-commerce export of goods through foreign post offices (FPOs) w.e.f.
June 21, 2018, along with relevant declaration forms thereto; Any IEC holder
exporting goods through FPOs will be eligible for zero rating by way of IGST
refund or discharge of LUT, but those who do not wish to avail this facility or
fall in the category of exempted / non-taxable are also permitted to export
under same procedure; In absence of EDI system at FPOs, the Postal Bill of
Export (PBE-1) for e-commerce exports will be processed in manual environment
for the time being, while exports under MEIS through post will continue to be
governed vide Circular No. 36/2016-Cus except that declaration form thereto
will be replaced by PBE-1, states Govt.; Allows Customs Brokers to operate at
all FPOs for ease of operations of exporters via third party-party web
application, whereas natural persons (i.e. other than firms & companies)
exporting parcels are not required to file any PBE; As regards personal
imports, it has been clarified that in view of amendments carried out to CTH
9804, imports by a legal person (firms, companies, other forms of business
entities) or which are for trade, manufacture or agriculture, cannot be regarded
as “personal imports” and such imports by posts shall be classified as per
Customs Tariff and require an IEC : Finance Ministry
Subscribe to:
Post Comments (Atom)
Can GST Under RCM Not Charged and Paid from FY 2017-18 to October 2024 be Settled in FY 2024-25?
In a recent and significant update to GST regulations, registered persons in India can now clear unpaid Reverse Charge Mechanism (RCM) liab...
-
Particulars in Part 1 and Part 2 of Step-2 of registration form are required to be exactly the same as reported in the TDS statement. Plea...
-
When India introduced the Goods and Services Tax (GST), it created a big change in the way companies handle their taxes. Earlier, business...
-
In this post, I will discuss Secretarial Standards related to Proxies under SS – 2. Right to Appoint: A Member entitled to attend and ...
-
What is a Digital Signature? Answer: A digital signature authenticates electronic documents in a similar manner a handwritten signatur...
-
Companies often give gifts to their employees to boost morale, celebrate achievements, and promote a positive work environment. Such gifts ...
-
LEASE-DEED (A brief Introduction) Lease defined. A lease of immovable property is a transfer of a right to enjoy such property, mad...
-
Section 150 of the Finance (No. 2) Act, 2024, specifies that taxpayers will not receive refunds for taxes paid or input tax credits (ITC) re...
-
Overview The Supreme Court of India recently ruled on the applicability of the Most Favoured Nation (MFN) clause in tax treaties involvin...
-
This Tax Alert summarizes the recent Delhi High Court (HC) ruling disposing Writ Petitions in a batch matter on valuation of import of serv...
No comments:
Post a Comment