Customs Act 1962 Current Affairs, GK & News
Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021: IGCR, 2017 Customs Rules changed
The Government of India recently brought changes to the Customs (Imports of Goods at Concessional Rate of Duty) rules, IGCR 2017 to boost trade facilitation. This was done through the Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021. What are the major rules changed? The absence of the newly rules had ..
Month: Current Affairs - May, 2021
Category: Legal & Constitution Current Affairs
Topics: capital goods • Customs Act 1962 • customs duty • IGCR • imports • MSME
Cabinet approves Agreement between India and UK on Customs Cooperation
On April 28, 2021, the Union Cabinet chaired by Prime Minister Narendra Modi approved the agreement signed between Government of India and the Government of UK. The agreement was signed on Customs Cooperation and Mutual Administrative Assistance in Customs matters. India and UK have been signing several trade related agreements after the latter moved out ..
Month: Current Affairs - April, 2021
Category: Economy & Banking Current Affairs • International Current Affairs
Topics: Customs • Customs Act 1962 • Customs Tariff Act 1975 • India-UK • Union Cabinet
Ordinance passed for 100% Tax Exemption on donations to PM Cares Fund
On March 31, 2020, the Government of India passed an ordinance to allow 100% exemption on donations made on PM Cares Funds. The ordinance has also extended the time limit of direct and indirect tax filings to June 30, 2020. Key Features on Direct Taxes The last date for filing Income Tax returns has been ..
Month: Current Affairs - April, 2020
Category: Economy & Banking Current Affairs
Topics: Aadhaar • Aadhaar based e-PAN • Customs Act 1962 • Income Tax Act • PAN • PM CARES Fund • Sabka Vishwas-Legacy Dispute Resolution Scheme 2019 • Vivad Se Vishwas
February 24: Central Excise Day
Every year, on February 24, the Central Excise Day is being celebrated by Central Board of Excise and Customs all over India. The day is being celebrated to honour the service of Central Board of Excise and Custom (CBEC) to the country. Highlights The day is also celebrated to honour the officers associated with CBEC ..
Month: Current Affairs - February, 2020
Category: Important Days & Events Current Affairs
Topics: Basic Custom Duty • CBEC • Corruption • Custom Duty • Customs Act 1962
Indian Coast Guard can now legally search & seize vessels in EEZ
Union Ministry of Defence has authorized every member of Coast Guard under Coast Guard Act 1978, to visit, board, search and seize any suspicious vessel and arrest people for offences within Exclusive Economic Zone (EEZ) and continental shelf of country. The permission also includes seizing of any artificial island/ any floating or moored object/ any ..
Month: Current Affairs - December, 2019
Category: Defence Current Affairs
Topics: Customs Act 1962 • Exclusive Economic Zone • Indian Coast Guard • Indian Navy • maritime security • Ministry of Defence • Narcotic Drugs and Psychotropic Substances Act