UPDATE IN TAXATION FOR THE WEEK 13THJULY TO 19TH JULY 2020
A. GOODS & SERVICES ACT
a. NOTIFICATIONS
i. Notification No. 59/2020 CENTRAL TAX dated 13th July 2020.
This Notification amends Principal Notification No. 21/2019 CT dated 23rd April 2019 by extending Date of Filing Annual Return for Person Registered under Section 10 of the CGST Act, 2017 (Composition Scheme) [FORM GSTR-4] to 31st August 2020.
B. CUSTOMS
a. NOTIFICATIONS
i. Notification No. 31/2020- Cus dated 13th July 2020
This Notification is amending Principal Notification 152/2009 Cus dated 31st December 2009 issued under “the India-Korea Comprehensive Economic Partnership Agreement” whereby Special Rate of Basic Customs Duties were notified when Goods imported from Republic of Korea. However due to Injury to Domestic Industries and as directed by the Directorate of Trade Remedies, the following changes/amendments have been effected as under:
Serial Number 342 of the Principal Notification is amended as under:
| Sr No | CTH | Broad Description (for understanding and not part of
Notification) |
Items | Effective Customs Duties |
| (1) | (2) | (3) | (4) | |
| 342 | 400220 | Butadiene rubber (BR)
Isobutene- isoprene (butyl) rubber (IIR); |
ALL GOODS | 0.00 |
| 342A | 400220 | 10.00 |
With following remarks
- nothing contained in serial number 342 and entries relating thereto in the said Table shall have effect up to and inclusive of the 28th day of January 2021, and
- the entries contained in serial number 342A in the said Table shall have effect up to and inclusive of the 28th day of January 2021; unless revoked, superseded or amended earlier.”.
In simple words, import of BUTADINE RUBEER (BR) (any grade or quality) from Republic Korea will attract Basic Customs Duty at 10% from 13th July till 28th January 2021 (both days inclusive) and after 29th January 2021 will be at NIL rate of Duty unless revoked or amended etc.
ii. Notification No. 56/2020-Cus (Non Tariff) dated 13th July 2020
By issuance of this Notification, the changes are effective in DRAWBACK SCHEDULE (All Industry Rate) from 15th July 2020. The changes are enclosed with this update as Annexure-I.
iii. Notification No. 57/2020 Cus (NT) dated 15th July 2020
This Notification fixes Import Tariff Value for certain commodities falling under CTH 1511 (Crude/RBD Palm Oils); 74040022 (Brass Scrap); 12079100 (poppy Seeds); 71 or 98 (Gold and Silver in any form, coins, medallions etc) and 080280 (Areca Nuts).
(Clients are requested to contact TEAM MNA if any details in this respect are required)
b. CIRCULARS / INTRUCTIONS
i. Circular No. 33/2020 Customs dated 15-07-2020 (F. No.: 609/24/2020-DBK)
The circular is issued in respect of Notification No. 56/2020 Cus (NT) dated 13th July 2020.
C. IMPORT – EXPORT RELATED – DGFT
a. NOTIFICATION
i. Notification No. 18/2015-2020 dated 13th July 2020
This is amending Notification No. 52/2015-2020 dated 19-03-2020 effecting following changes:
| Sr No in
Schedule |
ITC (HS) | Description | Present
Policy |
Revised
Policy |
| 207C | 560312 | Non Woven Fabrics | Prohibited | PROHIBITED |
| 560392 | for 25-70 GSM | |||
| 560311 | Non Woven Fabrics | |||
| 569313
560314 |
other than 25-70
GSM (Except for |
Prohibited | FREE | |
| 560391 | Melt-Blown category | |||
| 560393 | of Non Woven | |||
| 560394 | fabrics) |
ii. Notification No. 19/2015-2020 dated 15th July 2020
This Notification imposes restriction on Import of CTH 8432 8020 (Rotary Tiller) and 8432 9090 (Others) subject to newly inserted Condition No 3 is followed.
b. PUBLIC NOTICE
i. Public Notice No. 13/2015-2020 dated 15th July 2020
This Public Notice informs Conditions and Modalities for import of Power Tillers which are as under:
- Cumulative Value of Authorisation issuede to any person would not be exceeding 10% of value of Tillers imported in F. Y. 2019-2020.
- Applicant should have been in business for at least past Three Years and should have sold minimum 100 Tillers in past Three Years
- Applicant should have following certification
- Valid Type (ICT)
- Batch Test Report (From FMTTI);
- Applicant should have satisfactory and proven Infrastructure for Training, Post Sales Service and Spare Parts
- Only Manufacturers are eligible for applying for Import Authorization (for Tillers and its components)
- Tillers should meet IS:13559 or higher
ANNEXURE-I
(Changes, amendments in DBK Schedule as per Notification No. 56/2020 Cus (NT) dated 13th July 2020.)
In the said notification, in the Schedule,-
(i) in Chapter – 29,-
- tariff item 292205 and the entries relating thereto shall be omitted;
- for tariff item 2930 and the entries relating thereto, the following tariff items and entries shall be substituted, namely: –
| ITC (HS) | Descriprion | UOM | Substituted Rate | Cap |
| “2930 | Organo-sulphur
compounds |
|||
| 293001 | Vinyl Sulphone Ester | Kg | 3.8% | 47.1 |
| 293099 | Others | 1.3% |
(ii) in Chapter – 64,-
(a) against tariff item 640301,-
- for the entry in column (4), the entry “5.4%” shall be substituted;
- for the entry in column (5), the entry “145” shall be substituted;
(b) against tariff item 640305,-
- for the entry in column (4), the entry “5.4%” shall be substituted;
- for the entry in column (5), the entry “130” shall be substituted;
(c) against tariff item 640307,-
- for the entry in column (4), the entry “5.4%” shall be substituted;
- for the entry in column (5), the entry “73” shall be substituted;
(d) against tariff item 640309,-
- for the entry in column (4), the entry “5.4%” shall be substituted;
- for the entry in column (5), the entry “81” shall be substituted;
(e) against tariff item 640311,-
- for the entry in column (4), the entry “6.2%” shall be substituted;
- for the entry in column (5), the entry “148” shall be substituted;
(f) against tariff item 640312,-
- for the entry in column (4), the entry “5.9%” shall be substituted;
- for the entry in column (5), the entry “114” shall be substituted;
(iii) in Chapter – 71,-
- against tariff item 711301, in column (4), for the figures “372.9”, the figures “431.1” shall be substituted;
- against tariff items 711302 and 711401, in column (4), for the figures “4332.2”, the figures “4105.6” shall respectively be substituted;
(iv) in Chapter – 87,
- against tariff item 870301, for the entry in column (2), the entry “Motor cars of a cylinder capacity less than 1000cc with manual transmission or automated manual transmission” shall be substituted;
- against tariff item 870303, for the entry in column (2), the entry “Motor cars of a cylinder capacity of 1000cc and above and up to 1200cc with manual transmission or automated manual transmission” shall be substituted;
- against tariff item 870305, for the entry in column (2), the entry “Motor cars of a cylinder capacity exceeding 1200cc but less than 1500cc with manual transmission or automated manual transmission” shall be substituted;
- against tariff item 870307, for the entry in column (2), the entry “Motor cars of a cylinder capacity of 1500cc and above with manual transmission or automated manual transmission” shall be.
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