News Update

World Energy Congress 2024: IREDA CMD highlights need for Innovative Financing SolutionsVoter turnout surpasses 50% by 4 PM in Phase 2 pollsST - Amendment made to FA, 1994 on 14.05.2015 making service tax applicable retrospectively on chit-fund business is only prospective - Refund payable of tax paid between 01.07.2012 to 13.05.2015: HCXI tells Blinken - China, US ought to be partners, not rivalsST - SVLDRS, 2019 - Amnesty Scheme, being of the nature of an exemption from the requirement to pay the actual tax due to the government, have to be considered strictly in favour of the revenue: HCCX - Issue involved is valuation of goods u/r 10A of CE Valuation Rules, 2000 - Appeal lies before Supreme Court: HCCus - Smuggling - A person carrying any article on his belonging would be presumed to be aware of the contents of the articles being carried by him: HCCus - Penalty that could be imposed for smuggling 3.2 kg of gold was Rs.88.40 lakhs, being the value of gold, but what is imposed is Rs.10 lakhs - Penalty not at all disproportionate: HCCus - Keeping in mind the balance of convenience and irreparable injury which may be caused to Revenue, importer to continue indemnity bond of 115 crore and possession of confiscated diamonds to remain with department: HCCus - OIA was passed in October 2022 remanding the matter to adjudicating authority but matter not yet disposed of - Six weeks' time granted to dispose proceedings: HCI-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HCChina asks Blinken to select between cooperation or confrontationI-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITATHonda to set up USD 11 bn EV plant in CanadaImran Khan banned from flaying State InstitutionsI-T - Income from sale of flats cannot be computed in assessee's hands, where legal possession of flats had not been handed over to buyers in that particular AY: ITATPro-Palestine demonstration spreads across US universities; 100 arrestedI-T - Investment activities in venture capital which are not covered in negative list under Schedule III to SEBI Regulations, qualifies for deduction u/s 10(23FB): ITATNATO asks China to stop backing Russia if keen to forge close ties with WestNY top court quashes conviction of Harvey Weinstein in rape case
 
Govt amends Policy for preferential quota sugar to EU and USA

By TIOL News Service

NEW DELHI, APR 28, 2015: THE Preferential Quota Sugar to EU was being exported through State Trading Enterprise (STE) subject to quantitative ceiling notified by DGFT from time to time. However, with a view to extend the benefits of export of Preferential Quota sugar to EU to the entire sugar industry in the country, the Government has now decided to liberalize the export policy in respect of export of Preferential Quota sugar to EU from ‘STE' to “Free” regime subject to quantitative ceiling notified by DGFT from time to time. The Certificate of Origin shall be issued by the Additional DGFT, Mumbai. The exporters shall be required to furnish the details of actual exports to the Additional DGFT, Mumbai as well as to APEDA.

Change in the policy of export of Preferential Quota Sugar to USA under TRQ quota:

The Preferential Quota Sugar to USA was being exported through State Trading Enterprise (STE) subject to quantitative ceiling notified by DGFT from time to time. However, the Government has now decided to change the export policy in respect of export of Preferential Quota sugar to USA from ‘STE' to "Free" regime subject to quantitative ceiling notified by DGFT from time to time. The quota will be operated by APEDA, New Delhi as per the modalities and operational guidelines to be notified by APEDA. The exporters shall be required to furnish the details of actual exports to the APEDA, New Delhi. The Certificate of Origin, if required, shall be issued by the Additional DGFT, Mumbai.

The change in the policy of the preferential sugar quota will enable all sugar industries in the country to export sugar subject to a minimal requirement of registration from APEDA or DGFT. A Notification in this regard has been notified by the Government on 20th April, 2015.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.


Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.