The DGFT has issued Public Notice No. 13/2023 dated June 08, 2023 regarding the Import of Watermelon Seeds under ITC(HS) 12077090 of ITC(HS), 2022 Schedule-I (Import Policy) for the period upto October 31, 2023.
In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy, 2023, the Directorate General of Foreign Trade hereby notifies the procedure for import of Watermelon Seeds under ITC(HS) 12077090 for the period of up to October 31, 2023 as follows –
As per the recommendation from the concerned ministry, the imports of Watermelon Seeds upto October 31, 2023 shall not exceed 35,000 MTs and shall be allowed on Actual User basis. Accordingly, DGFT invites fresh applications for Licence for Restricted imports for Watermelon Seeds with effect from the date of this Public Notice and not later than June 15, 2023 as follows –
i. Applications where the date of issuance of their Importer-Exporter Code (IEC) is on or after the date of this Public Notice shall not be considered.
ii. The applications shall be considered on Actual User basis to processors only, based upon their own processing capacity and past imports of Watermelon Seeds.
iii. A valid FSSAI Licence issued before the date of the Public Notice indicating the processing capacity is required to be provided.
iv. A valid CA Certificate certifying the overall turnover of the applicant as well as the applicant’s turnover for watermelon seeds is required to be provided.
v. Only one application against one IEC shall be considered 8285151111
vi. In case of any mis-declaration, the applicant shall not be considered for the current allocation and shall be disallowed from subsequent such allocations for the next 2 years.
The quantity of imports permitted to each application shall be decided by the Exim Facilitation Committee (EFC) as per para 2.48 of the HBP 2023. The EFC, while examining the applications will take into considerations; inter alia, the annual processing capacity and imports of Watermelon seeds in 2020-21, 2021-22 and 2022-23.
30% weightage shall be given to the average import of watermelon seeds by the applicant(s) in 2020-21, 2021-22 and 2022-23. 70% weightage shall be given to the applicant’s processing capacity.
Any eligible applicants are entitled for allocation based on the weightage specified. DGFT may however specify a floor and/or ceiling for the quantity(s) to be allocated, to ensure that economic quantities are allocated. Further, DGFT shall reserve the right to make any changes in the allocation process as deemed fit, at any point of time.
All prospective Licensees shall ensure that the import consignments against the said licences reach the Indian ports on or before October 31, 2023.
Effect of this Public Notice: Applications are invited for licence for restricted Imports for Watermelon seeds under ITC(HS) 12077090 for import upto October 31, 2023. The last date for submission of online applications is June 15, 2023.
The Public Notice can be accessed at: https://content.dgft.gov.in/Website/dgftprod/0682c3ab-894e-427f-9008-9a2bbf0a054f/PN%2013%20dt%2008-06-2023%20Eng.pdf
__________________________________________________________________________________________
 |
| 📍 Tomorrow is the LAST day to Avail of the Benefit of a Special Discount !!
Register Now !!
Live GST Course on:
GST Input Tax Credit (ITC) by CA (Adv) Bimal Jain
3 Day | 3 Session | 9 Hours
June 16 | 3:00 – 6:00 PM, June 17 | 3:00 – 6:00 PM and June 18 | 11:00 AM – 2:00 PM (IST)
Rs. 2,999/- 2,499/- (Inclusive of GST)
Special Discount valid till 10 June 2023
Register Now !!
https://www.a2ztaxcorp.in/product/gst-input-tax-credit/
To Know more:
https://www.youtube.com/watch?v=n2FrShQ-ytY
About Speaker:
CA (Adv) Bimal Jain
- FCA, FCS, LLB with 24 Yrs. of Experience in Indirect Taxation – GST, Service Tax, Excise, Customs, VAT/CST, FTP, DGFT matters etc.
- Chairman of Indirect Tax Committee of PHD Chamber of Commerce
- Author of books on Goods and Services Tax, “GST LAW AND COMMENTARY (With Analysis and Procedures)” [8th Edition – May 2023]
Coverage of the Course :
- What is the Eligibility and Condition for claiming ITC- Section 16 with practical scenarios and examples
- Requirement and reversal of ITC (Rule 37)
- Interplay of Valuation – GST ITC
- Schedule I vs Rule 37 Comparative Study
- Rules and Provision for Offset of ITC – Case Study
- Concept of Claim – Reversal – Reclaim
- Clarification on Non Filing of GSTR-1 and GSTR 3B
- Other provision of Section 17 for reversal of common ITC and reversal as per Rule 42/43 for Input, Input Service & Capital Goods
- Exclusions in value of exempt supplies for the purpose of reversal of common credit ITC as per rule 42 and 43
- Exclusion of interest income and other exempt services from aggregate value of exempt supplies for reversal of common ITC as per rule 42 and 43
- Special Provision for Banking, Financial Institutions, NBFC’s
- Blocking of ITC (Rule 86A)
- Restrictions on use of amount available in electronic credit ledger (Rule 86B)
- Order of utilization of input tax credit (Rule 88A)
- Manner of calculating interest on delayed payment of tax (Rule 88B)
- Availability of credit in special circumstances
- ITC on opening stock of inputs at the time of registration
- ITC on stock of inputs available to person taking voluntary registration
- ITC on opening stock of inputs and capital goods available on opting out of composition scheme
- ITC on stock of inputs and capital goods when exempted goods or services become taxable
- ITC reversal on closing stock of inputs on switching to composition scheme/ wholly exempt supplies
- Transfer of ITC in case of sale, merger, demerger, amalgamation, etc.
- Transfer of ITC on obtaining separate registration for multiple places of business within a state or UT
- Removal of capital goods or plant and machinery
- Taking ITC in respect of inputs and capital goods sent for job-work
- Manner of distribution of credit by Input Service Distributor
- Manner of recovery of credit distributed in excess
- Apportionment of Credit
- Meaning of Taxable & Exempt Supply
- Credit used exclusively for Taxable supply / exempt supply
- Common Credit
- Supplies for personal consumption etc.
- How to apportion the credit
- Blockage of Credit in respect of
- Motor Vehicles, Vessels and Aircraft; their servicing repair & maintenance.
- Food & beverages, outdoor catering beauty treatment, health services, cosmetic & plastic surgery, renting or hiring of motor vehicles, and others
- Woks contract services
- Membership of Club, Health and Fitness Centre
- Goods & Services provided to employees
- Travel benefits to employee
- Construction of immovable property on own account
- Tax paid under composition scheme
- Goods or services received by a non-resident taxable person
- Goods or services used for CSR activities
- Goods or services used for personal consumption
- Gifts, free samples and goods lost or written off
- Tax paid in fraud cases, confiscation etc.
- ITC on Works Contract and Construction of Immovable Property related issues such as:
- Installation of lift
- Overhead crane
- Construction of warehouse for leasing
- Civil construction for installation of machinery etc.
- Credit on free gifts, samples, goods lost, stolen or destroyed etc.
- ITC & Tax paid under Section 74, 129 and 130
- Discussion on various important judgments on ITC
- How to prove genuineness of transactions to avail GST IT
- ITC can be claimed during revocation of cancelled GST registration
- Claiming Time Barred ITC for the period of Cancellation
- ITC availability on vouchers and subscription packages
- Constitutional validity of Section 16(2)(c) challenged in various cases
- Constitutional validity of Section 16(4) challenged in various cases
- Case laws on rectification of error or omission made while filing GST statements/ returns/ forms
- Other important case laws on GST ITC
- Open House: Question and Answer
Key features of the course:
- E-Certificate to all participants
- Background Material (BGM) available in PDF (Downloadable basis)
- Dedicated WhatsApp group, Telegram and E-mail for Free Subscription of GST Updates for 1 Year
- Hindi/English medium
- Special 45% Discount on our latest ‘GST Law and Commentary with Analysis and Procedures’ by Bimal Jain & A2Z Taxcorp LLP – May 2023 Edition
Terms and Conditions:
- The Recorded Session will be provided.
- The validity of the Recorded Session is 2 Months with Unlimited Viewing.
For details, or any queries,
Call us at: 8076563802, 011 42427056 or E-Mail us at: info@a2ztaxcorp.com, intern@a2ztaxcorp.com or Visit: www.a2ztaxcorp.in
A2Z Academy
DDA Flat No. 650, Pocket 5, Mayur Vihar, Phase 1
New Delhi – 110091
Mobile: +91-8076563802
E-mail: info@a2ztaxcorp.com
Website: www.a2ztaxcorp.in
|
Related
