Customs & Trade

Import of Coal and Coke under AIECTA April 22, 2022 EXECUTIVE SUMMARY The Australia India Economic Cooperation and Trade Agreement (AIECTA) is indeed a bonanza for India Inc. This Note addresses the benefit of Import Coal or Coke under the AIECTA arrangement. Heavy metal manufacturing Industries and Power Plants (including…

Shri Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Government of India, on 28th of March 2022 announced the unveiling of the Comprehensive Economic Partnership Agreement (CEPA) between India and the United Arab Emirates (UAE). With this, the text of the India-UAE…

BACKGROUND It is not a matter of Sine quo non that when the base Tax/Duty is exempted there is an automatic exemption of the Cess levied. It has been  about 4 plus years since we saw the advent of GST subsuming in its wake an entire plethora of Indirect taxes…

BACKGROUND The RoDTEP scheme, was announced and implemented from January 1st, 2021, and required the exporters opting for the Scheme, to mention so in their shipping bills. The rates applicable and the guidelines for RoDTEP were notified on 17th August 2021 vide Notification No. 19/2015-2020 dated 17.08.2021. The Ministry of…

This Note is an update to the note, we, at Novello Advisors had published in July 2020. The same is being updated since the issue on hand has not been diluted and the issue on hand has assumed a sense of urgency. The Hon’ble Finance Minister has stated in the…

The Hon’ble FM in the Union Budget 2021 announced the introduction of a New Cess for financing agricultural infrastructure and development expenditure called Agricultural Infrastructure and Development. The said Cess has been made applicable to 25 items effective from February 02, 2021. FINANCE BILL 2021 THE IMPOSITION OF AIDC AS…

The Finance Bill, 2021 seeks to amend the timelines for filing the Bill of Entry to a day before the arrival of Imported Goods. CUSTOMS ACT, 1962 In terms of the Customs Act, 1962, the time limit for filing Bill of Entry is set out under sub-section 3 of section…