New procedure for online application of import export code (IEC) is postponed due to technical problems

To be published in the Gazette of India Extraordinary Part-I, Section (I)  Ministry of Commerce & Industry  Udyog Bhawan, New Delhi  Dated the 06 January, 2015 Subject: Online IEC applications: Postponement of the date of operationalisation of Public Notice No. 76 dated the 27th of November, 2014 In exercise of powers conferred under paragraph 2.4 … Read more

ICAI extended the due date for complying with the CPE hours requirement for the Calendar Year 2014

FOR INFORMATION OF THE MEMBERS Subject: Extension of last date “for complying with the CPE hours requirement for the Calendar Year 2014” – from 31st December, 2014 to 31st March, 2015 This is for kind information of the members that it has been decided to extend the last date for complying with the CPE hours … Read more

Government levied a safeguard duty on imports of Sodium Citrate, for a period of three years

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]  Notification No. 04/2014-Customs (SG) New Delhi, the 31st December, 2014               Customs Tariff Act, other than the People’s Republic of China. [F.No.354/229/2014-TRU]   (Akshay Joshi) Under Secretary to the Government of India

Obligation of NBFCs under Prevention of Money laundering Act, 2002

RBI/2014-15/383DNBR(PD).CC.No.009/03.10.42/2014-15 January 2, 2015 All NBFCs Dear Sirs, Know your Customer (KYC) Norms/Anti-Money Laundering (AML) standards/ Combating of Financing of Terrorism (CFT)/ Obligation of NBFCs under Prevention of Money laundering Act (PMLA), 2002 – Client Due Diligence measures Please refer to our Master Circular DNBS(PD) CC.No.387/03.10.42/ 2014-15 July 1, 2014, as per which NBFCs are required … Read more

Anti-dumping duty on imports of Pentaerythritol, originating in or exported from Chinese Taipei, for a period of five years

TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]  Notification No. 49/2014-Customs (ADD) New Delhi, the 31st December, 2014         And whereas, the Central Government had extended the anti-dumping duty on the subject goods, originating in or exported from the subject country upto and inclusive … Read more

Government Increased Basic Excise Duty on Petrol and Diesel by Rs. 2 Per Litre with effect from 2nd Jan 2015

To Fund Infrastucture Development Programme, Government Increases Basic Excise Duty on Petrol and Diesel (Both Branded and Unbranded) by Rs. 2 Per Litre; Duties to Come into effect from 2nd January, 2015  In order to fund the ambitious infrastructure development programme of the Government, particularly the building of 15000 kms of roads, during current and … Read more

RBI extends last date of receipt of applications till 2nd February 2015 for Licensing of Small Finance Banks and Payments Banks

The Reserve Bank of India received requests seeking extension of time for submission of applications for Small Finance Banks / Payments Banks, the last date for which was January 16, 2015. Keeping in view the difficulties expressed by various parties, it has been decided to extend the last date of receipt of applications to February 2, 2015. Accordingly, … Read more

Security for External Commercial Borrowings – RBI Circular

RBI/2014-15/377                                                       A.P. (DIR Series) Circular No. 55                                                           January 01, 2015 To All Authorised Dealer Category-I Banks Madam/ Sir Security for External Commercial Borrowings Attention of Authorised Dealers Category-I … Read more

Documents required for application of Import Export Code (IEC)

List ofTo be published in the Gazette of India Extraordinary Part-I, Section (I) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan, New Delhi  Public Notice.  79   /(RE-2013)/2009-2014 Dated the 31 December, 2014   Subject: Amendments in “Detailed Guidelines for Issue / Modification of Importer Exporter Code Number (IEC)” as notified vide … Read more

24×7 Customs clearance facility would be made available to 13 more airports in respect of all export goods and to 14 more sea ports in respect of specified import and export goods

Circular No. 19/ 2014-Customs F. No. 450/25/2009-Cus IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) *****   Room No. 229-A, North Block New Delhi, dated 31.12.2014 To, All Chief Commissioners of Customs/Customs (Preventive) All Chief Commissioners of Customs and Central Excise All Commissioners of Customs/Customs (Preventive) All … Read more