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    Govt launches SIMS 2.0 for steel imports monitoring; SIMS 1.0 discontinued. File new apps on https://sims.steel.gov.in after 25.07.2024, 2 pm.
    Export Promotion Capital Goods Scheme simplified: Installation certificate time extended, export obligation period relaxed. Reduced compliance burden.
    Verify e-docs like licenses, certificates via UDIN on DGFT site. Key UDIN to download e-copy & cross-check paper copy.
    Export obligation fulfilled by quantity, no penalty if minimum value addition met. Value addition shortfall? Pay 1% FOB online via DGFT site.
    Potato import from Bhutan under ITC code 07019000 allowed freely till 30/06/2027 as per DGFT amendment. Duty-free import period extended.
    Export of rice to EU & some European nations needs Certificate of Inspection. Exemption for other European countries for 6 months.
    India extends Interest Equalisation Scheme for MSME exporters for 2 months beyond June 30, 2024. Rs. 750 Cr cap. Non-MSME claims not accepted.
    DGFT Updates TRQ Scheme: Changes to Handbook Paras 2.57, 2.58; New Guidelines & Eligibility for Maize Imports.
    India Expands Pre-Shipment Inspection Agencies to New Countries; PSIAs Must Update Membership and Contact Details in 30 Days.
    Export of Non-Basmati White Rice to Malawi & Zimbabwe via NCEL approved. Quantity: 1,000 MT each country.
    Government is seeking feedback on changes to export obligations for spices, drugs, and more. Have your say within 15 days!
    16 agencies are now recognized as PSIAs u/s 2.52(c) of HBP, 2023. 2 existing PSIAs get new instruments. 24 PSIAs have revised areas of operation.
    RCMC for Medical Devices now issued by EEPC INDIA & other EPCs u/s recent decision. Customs to accept till further notice.
    Notification: Import policy amended for specific gold items. Policy for specified items put into "Restricted" category.
    New rules allow Advance Authorisation holders, EOU, and SEZ to import items under Quality Control Orders exemption. EO period now 180 days.
    New rule allows Advance Authorisation holders, EOU, and SEZ to import inputs under Quality Control Orders.
    Simplified Export Obligation Process: DGFT Revises Guidelines to Ease Compliance for Deemed Exports with New Document Options.
    Export of Broken Rice to Senegal and Gambia extended through NCEL until 30th Nov 2024.
    Relaxation in 'Bill of Export' submission for SEZ supplies under Advance Authorisation/DFIA before 01.07.2017.
    Notification: Amendment in item description of 'Glufosinate Technical' under HS Code 38089390. Import now 'Prohibited' below Rs. 1289/Kg.
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Acts Income Tax