FAQ
EPCES has been receiving a large number of queries.
Though such queries are responded immediately to the sender,
few interesting and oft-repeated queries
are reproduced here. Continue reading “FAQ – EXPORT PROMOTION COUNCIL FOR EOU & SEZ.”
FAQ
EPCES has been receiving a large number of queries.
Though such queries are responded immediately to the sender,
few interesting and oft-repeated queries
are reproduced here. Continue reading “FAQ – EXPORT PROMOTION COUNCIL FOR EOU & SEZ.”
Service Exports from India Scheme (SEIS) under Indian Foreign Trade Policy 2015-20 (FTP 2015-20) is one of the two schemes introduced in Foreign Trade Policy of India 2015-20, as a part of Exports from India Scheme. (The other scheme is Merchandise Exports from India Scheme (MEIS))
We are pleased to release a Tax Alert on recent Circular No. 4/2016 and 5/2016 both dated 9 February 2016 issued by Central Board of Excise & Customs (‘CBEC’) prescribing procedure for investigation of related party import cases and other cases by the Special Valuation Branch (‘SVB’) of Customs. It also prescribes procedure for renewal of SVB orders and ongoing SVB inquiries.
This Tax Alert summarizes recent Circulars No. 4/2016 and 5/2016 both dated 9 February 2016 issued by Central Board of Excise & Customs (‘CBEC’) prescribing procedure for investigation of related party import cases and other cases by the Special Valuation Branch (‘SVB’) of Customs. It also prescribes procedure for renewal of SVB orders and ongoing SVB inquiries.
Provisions of penalties and offences are quite similar to Excise Law. Like Excise, Customs Law envisages two types of punishments i.e. (a) Civil Liability : Penalty for violation of statutory provisions involving a penalty of money and confiscation of goods. (b) Criminal Liability : Criminal punishment is of imprisonment and fine; which can be granted only in a criminal court after prosecution. Both penalty and punishment can be imposed for same offence.