Customs
Some Important Announcement of the Government
1. Notification No. 7/2012-Customs dated 9th March, 2012 amends notification No. 104/2009-Customs dated 14th September, 2009 by adding 2012-13 in condition (1) of the opening paragraph.
2. Notification No. 8/2012-Customs dated 9th March, 2012 amends notification No. 3/89-Customs dated the 9th January, 1989 by substituting new entries regarding import of fuels.
3. Notification No. 9/2012-Customs dated 9th March, 2012 notifies duty free re-import of cut & polished diamonds into India after certification/grading by the laboratories/agencies.
4. Notification No. 20/2012-Customs dated 17th March, 2012 notifies new duty structure on dredgers imported for dredging operations in India proportional to their period of stay.
5. Notification No. 23/2012-Customs dated 17th March, 2012 seeks to amend Notification 12/2012 – Customs, dated 17-03-2012 regarding paper or paperboard.
6. Notification No.18/2012-NT dated 5th March, 2012 notifies the Publication of Daily Lists of Imports and Exports (Amendment) Rules 2012.
7. Notification No. 26/2012-N.T. dated 28th March, 2012 notifies rate of exchange of conversion of each of the foreign currency with effect from 1st April, 2012.
8. Notification No. 29/2012-N.T. dated 30th March, 2012 amends Notification No. 101/2004-Customs (N.T.),dated 31st August, 2004regarding 'Interim Rules of Origin'.
9. Circular No. 6/2011-Customs dated 6th March, 2012 notifies ban
on export of Cotton (Tariff Code Nos. 5201 & 5202).
10. Circular No. 7/2012-Customs dated 9th March, 2012 clarifiesthat the cotton shipments for which LEO has been issued by 2400 hrs of 4th March 2012, will be allowed to be exported.
11. Circular No. 8/2012 dated 13th March, 2012 clarifies that field formations should strictly monitor the conditions imposed by DGFT regarding free export of Cotton subject to the condition i.e. “prior registration of Contract with DGFT” with immediate effect.
12. Circular No. 10/2012-Customs dated 29th March, 2012 clarifies refund of 4% CVD (SAD). It also extends time limit for using re-credited DEPB scrips/ Reward Scheme scrips in case of 4% CVD (SAD) up to 30-06-2012.
