Indirect Tax updates of January 18 for easy digest

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foreign-trade-policy

Notifications: FTP:

  1. Increase in minimum import price of Areca Nuts form Rs. 162/- to Rs. 251/- per Kilogram

The Directorate General of Foreign Trade vide Notification No. 35/2015 – 2020 dated January 17, 2017 has enhanced the minimum price for import of Areca Nuts from existing Rs. 162/- to Rs. 251/- per kilogram.

Read More at: http://dgft.gov.in/Exim/2000/NOT/NOT16/noti3517.pdf

  1. ITC (HS) 2017 -Schedule-1 (Import Policy) notified

The Directorate General of Foreign Trade vide Notification No. 36/2015 – 2020 dated January 17, 2017 has notified Indian Trade Classification (Harmonised System) of Import Items, 2017 [ITC(HS), 2017], which contains ‘Schedule 1- Import Policy’. Further against each item of the schedule, the current policy has been indicated along with policy conditions to be fulfilled, if any. This notification shall come into force with immediate effect.

Read more at: http://dgft.gov.in/Exim/2000/NOT/NOT16/Noti3617.pdf

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