Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Instruction No. 15/2024-Customs, issued by the Central Board of Indirect Taxes and Customs, mandates the transition of Duty Drawback payment process to the Public Finance Management System (PFMS) from 5th June, 2024. The new procedure eliminates printing of Drawback scrolls and issuing cheques, streamlining the process. Customs officers will process Duty Drawback scrolls, which will be automatically transmitted to the Central Nodal eDDO and then to the nodal ePAO for approval. Subsequently, Duty Drawback amounts will be credited directly into exporters' bank accounts linked with PFMS. Prior to the implementation date, all pending Drawback scrolls must be processed, and cheques issued. Jurisdictional authorities must inform the PAO and banks about the last cheque issued and return unused cheque books. A Trade Notice should be issued for awareness, and any implementation challenges should be reported to the Board.
Instruction No. 15/2024-Customs, issued by the Central Board of Indirect Taxes and Customs, mandates the transition of Duty Drawback payment process to the Public Finance Management System (PFMS) from 5th June, 2024. The new procedure eliminates printing of Drawback scrolls and issuing cheques, streamlining the process. Customs officers will process Duty Drawback scrolls, which will be automatically transmitted to the Central Nodal eDDO and then to the nodal ePAO for approval. Subsequently, Duty Drawback amounts will be credited directly into exporters' bank accounts linked with PFMS. Prior to the implementation date, all pending Drawback scrolls must be processed, and cheques issued. Jurisdictional authorities must inform the PAO and banks about the last cheque issued and return unused cheque books. A Trade Notice should be issued for awareness, and any implementation challenges should be reported to the Board.
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