DGFT amends the export policy of Diagnostic Kit
Directorate General of Foreign Trade in its notification dated 4th April 2020 has restricted the export of diagnostic kits falling under any ITCHS (Indian Trade Clarification based on Harmonized System of Coding) code with immediate effect.
DGFT allows digitally signed electronic certificates of origin to be used
It is requested to the importing countries to accept digitally signed certificates in the interim period until the exceptional circumstances on account of the COVID-19 pandemic is over.
DGFT extends the date of implementation for track and trace system for export of Pharmaceutical and drug consignments
Directorate General of Foreign Trade in its notification dated 30th March 2020 has extended the date of implementation of track and trace system for export of pharmaceutical and drug formulations in order to maintain the parent-child relationship in packaging levels and its uploading on central portal by both Small Scale Industries (SSI) and Non-SSI till 1st day of […]
The Ministry of Commerce and Industry has extended the validity of Registration cum membership certificate
The Ministry of Commerce and Industry vide its Trade Notice dated 31st March, 2020 has extended the validity of Registration cum Membership Certificate (RCMC) till 30th day of September, 2020, to reduce the burden caused by pandemic and lockdown.
CBIT extends exemption from IGST and compensation cess given to Export Oriented Units
The Central Board of Indirect Taxes(CBIT) vide notification dated 24th March, 2020 has extended the exemption from Integrated Goods and Service Tax (IGST) and compensation cess given to EOUs on imports for another year.
Finance Minister announces COVID -19 Compliance reliefs
The Finance Minister on 24th March 2020 has announced several reliefs for easing the burden on the citizens of India for complying with the requirement of Income-tax Act, Companies Act, Goods and Service tax laws etc. The Finance Minister clarified that no financial emergency will be declared. The finance ministry is already working an economic package to mitigate the impact of coronavirus on the Indian economy.
Ministry Of Commerce And Industry lifts the ban on export of personal protection equipment
The Ministry Of Commerce And Industry in its notification dated 25th February 2020 has allowed the export of a list of personal protection equipment and removed surgical masks and gloves, except synthetic rubber ones etc. from the list of banned items.
Time limit extended for submitting Form GST TRAN-1
The Central Board of Indirect Taxes and Customs vide its order dated 7th February, 2020, has extended the time limit for submitting the declaration in FORM GST TRAN-1 till March 31, 2020, owing to difficulties encountered by registered persons in filing the form due to technical issues in the common portal.
CBIC exempts specified goods from health cess imposed of certain medical devices.
The Central Board of Indirect Taxes and Customs vide notification dated 2nd February 2020 Seeks to exempt specified goods from Health Cess imposed on the medical devices falling under heading 9018 to 9022 in terms of clause 139 of the Finance Bill, 2020.
DGFT mandates that Issuance of Preferential Certificate of Origin for India’s Exports to Nepal shall be through online portal.
Directorate General of Foreign Trade (DGFT) has mandated that for exports to Nepal from India under South Asian Free Trade Area (SAFTA) and SAARC Preferential Trading Arrangement (SAPTA), the Preferential Certificate of Origin shall be applied and issued only from this platform with effect from 18th December 2019.
