Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT RATES :: form 3cd :: TDS :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: cpt :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ACCOUNTING STANDARD
 
 
Service Tax »
 Further clarification to Circular No. 1/2017 - GST dated 21st July, 2017.
 GST Return Filing: How to handle discounts and additional cost
 GST base looks set to be at least 25% wider than earlier tax regime
 Businesses struggle with multiple tax rates, returns
 Common use items exempt from e-way bill provision under GST
 Goods And Services Tax Sends Taxes Racing
 How GST lesson can unleash untapped potential of education sector in India
 Services sector PMI falls most in 4 years on GST
 Missing column in GSTR 3B form leaves input claims a shaky edifice
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
 GST not easy to implement but tax base expansion will benefit all

DEPB on Chapter 72 fully withdrawn
June, 03rd 2008

BL reported that the Indian government has withdrawn duty drawback benefits on all iron & steel, cement and rice shipments. Henceforth, exporters of these commodities will not be entitled to any rebate or refund of customs, excise or service tax paid on inputs used for their production.

In a notification dated May 29th 2008, the revenue department has said that no amount or rate of drawback shall be determined in respect of any goods falling within Chapter 72 or heading 1006 or 2523 of the First Schedule to the Customs Tariff Act, 1975. Chapter 72 covers all iron & steel products, while headings 1006 and 2523 relate to rice (including basmati) and cement, respectively.

The finance ministry specifies drawback rates for individual export items after factoring in broad parameters including standard input output norms pertaining to its manufacture, the share of imported vis a vis domestically sourced inputs and the prevailing rates of customs, excise and service tax on the inputs.

This move comes in the backdrop of a weakening rupee, which has made exports more remunerative. With the headline inflation rate crossing eight per cent, the Centre is keen to augment domestic availability of sensitive items and, therefore, discourage exports to the maximum.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions