- Circular: Service Tax:
No Service tax on the services by way of transportation of goods by a vessel from a place outside India to the custom station in India intended for transhipment to any country outside India
The Central Government vide Circular No. 204/2/2017-Service Tax dated February 16,2017 has clarified that goods imported into a customs station in India intended for transhipment to any country outside India, the destination of goods is not a place in taxable territory in India but a country other than India if the same is mentioned in the import manifest or the import report as the case may be and the goods are transhipped in accordance with the provisions of the Customs Act, 1962 and rules made there under.
Hence, with respect to such goods, services by way of transportation of goods by a vessel from a place outside India to the customs station in India are not taxable in India as the destination of such goods is a country other than India.
Read more at: http://www.cbec.gov.in/resources//htdocs-servicetax/st-circulars/st-circulars-2017/st-circ-204-2-2017.pdf
- Circular: Excise:
CAS-4 certificate of the financial year ending on 31st March should be issued by 31st December of the next financial year:
The Central Board of Excise and Custom (“the Board”) vide Circular No. 692/08/2003-CX dated February 13, 2003 has clarified that cost of production of captively consumed goods shall be done strictly in accordance with CAS-4 certificate. But it has been highlighted during C &AG audit that some assesses are not preparing CAS-4 certificates even after substantial time lapse from ending of financial year and filing of Tax Audit reports
Hence, now the Board vide Instruction No. F. NO. 206/01/2017-CX 6 dated February 16, 2017 has directed that CAS-4 certificate of the financial year ending on 31st March should be issued by 31st December of the next financial year.
Further, the board has stated that assessing officer should finalize the provisional assessment expeditiously and Jurisdictional Commissioners shall suitably issue the trade facility in this regard.
Read more at: http://www.cbec.gov.in/resources//htdocs-cbec/excise/cx-instructions/cx-instructions-2017/cx-ins-cas-4cert.pdf
- Circular: Custom:
Expansion of 24×7 customs clearance facility and clarification on levy of MOT charges in CFSs attached to 24×7 ports.
The Board vide Circular No. 04/2017-Customs dated February 16, 2017 has decided to extend 24×7 customs clearance to all the Bills of Entry and not only to facilitated Bills of Entry.
Further, it is clarified that no merchant overtime fee (“MOT”) charges would be collected at custom freight station (“CFS”) attached exclusively to 24×7 ports in lieu of services rendered within the CFS. Since, CFS are an extension of port and as on date no MOT charges are required to be collected in respect of the services provided by the customs officers at 24×7 customs ports and airports. This will bring the MOT collection norms at par with the situation on the air side which cover all shipping bills free or otherwise
Read more at: http://www.cbec.gov.in/resources//htdocs-cbec/customs/cs-circulars/cs-circulars-2017/circ04-2017cs.pdf
- Notification: Custom:
Rate of exchange for conversion of the foreign currency with effect from February 17, 2017
The Central Government vide Notification No. 12/2017- Customs (N.T.) dated February 16, 2017 has revised the rate of exchange for conversion of each of the foreign currencies into Indian currency or vice versa relating to imported and export goods in the schedules specified in the link below. The revised rate will be applicable from February 17, 2017.
Read more at: http://www.cbec.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2017/cs-nt2017/csnt12-2017.pdf
- Notification: Customs (ADD):
Definitive anti-dumping duty on Seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel if exported from the People’s Republic of China
The Central Government in past vide Notification No. 18/2016-Customs (ADD) dated May 17, 2016 had imposed provisional anti-dumping duty for 6 months on Seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel (other than cast iron and stainless steel), whether hot finished or cold drawn or cold rolled of an external diameter not exceeding 355.6 mm or 14” OD (“Said Goods”), falling under heading 7304 of the First Schedule to the Customs Tariff Act, 1975 if originating in or exported from the People’s Republic of China (“Subject Country”).
The aforesaid Provisional anti dumping duty was in force till November 16, 2016. Now the Central Government vide Notification No. 7/2017-Customs (ADD) dated February 17, 2017 has imposed a definitive anti dumping duty on said goods for a period of 5 years if imported or originating from subject country.
Further it is stated that the five year period shall be start from the date of imposition of provisional anti-dumping duty i.e. May 17, 2016 but the anti-dumping duty shall not be levied for the period commencing from the date of the lapse of the provisional anti-dumping duty, that is, the November 17, 2016 upto the preceding day of the publication of this notification in the Official Gazette.
Read more at: http://www.cbec.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2017/cs-add2017/csadd07-2017.pdf