News Update

Entitlement to export freely exportable items on free of cost basis by Status Holders revisedM/s SNG Inspection Services, UP and its branch offices delisted from Appendix 2G and made ineligible to issue Pre-Shipment Inspection CertificatesRBI to introduce new bank note of Rs 200 denomination in Mahatma Gandhi Series tomorrow + Govt not mulling over any ban on Rs 2000 bank note, says FMNew Railway Board Chairman says his priority would be safetySC Constitution Bench rules Right to Privacy is a fundamental right under Article 21Two former HC Judges Justices AIS Cheema & Justice Bansi Lal Bhat appointed as New Members of NCLATPM asks Senior Officials to deliver their BEST to NationGST - A Sad Tale of GSTN & Ease of Doing Business gone!I-T - Fees paid to cable operators for carrying programmes by receiving & re-transmitting audio-visual signals to television viewers, attracts tax at source @ 194C: ITATST – No finding that appellant provided Investment Advisory services by sitting in office only - rent-a-cab is an Input service: CESTATRailway Board Chairman resigns; Air India Turnaround Man Ashwini Lohani takes over Railway BoardCX - Since transfer of Cement pipes passes only at site, deduction relating to transportation, laying, joining, testing charges from invoice value not admissible u/s 4 of CEA, 1944: CESTATST - Fact that services were performed outside India will not make any difference as final beneficiary of services is appellant having their fixed establishment &permanent address in India: CESTATRailway Minister meets PM, takes moral responsibility for twin train accidents; PM asks him to ‘wait’Govt clarifies on levy of GST on space selling by ad agencyCabinet approves Commission to examine sub-categorisation of OBCsCabinet approves New Central Sector SchemeCabinet okays MoU between India and Nepal for curbing drugs traffickingCabinet approves closure of loss-making Bharat Wagon + land allotment for MP Govt State Guest House in DelhiGovt to set up National Sports Museum at Nehru Stadium in Delhi
Untitled Document

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS
NEW DELHI

CIRCULAR NO

1058/07/2017-CX, Dated: August 16, 2017

To

The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners of Central Tax & Central Excise (All)
Web-master, CBEC

Sub: Clarification on requirement of submitting Bank certificate evidencing receipt of payment in freely convertible currency under Notification No. 45/2001-CE (NT) dated 26.06.2001 for export to Bhutan for specified Hydroelectric Projects - reg.

References have been received in the Board seeking clarification on, whether proof of export, namely Bank certificate evidencing receipt of payment in freely convertible currency as required under Notification No. 45/2001-CE (NT) dated 26.06.2001 as amended, for export of commodities to Bhutan would have to be submitted in the case of export for the following Hydroelectric projects, namely, Kurichu Hydro Electric Project, Tala Hydro Electric Project, Punatsangechhu-I Hydro Electric Project, Punatsangchhu-II Hydro-Electric Project, Mangdechhu Hydro-Electric Project and Kholongchhu Hydro Electric Project, which are being constructed with the assistance of Government of India as part of Bilateral Agreements with Bhutan.

2. The said hydroelectric projects in Bhutan are being constructed with the aid of the Government of India as part of bilateral agreements between the Government of India and the Royal Government of Bhutan. The aid inter alia is by way of grant or loan by the Government of India and has approval of the Government of India along with facility for payment in INR for exports to Bhutan.

3. Further, Article VII of the India-Bhutan Agreement on Trade, Commerce and Transit provides that bilateral trade between India and Bhutan shall be in INR or Ngultrums. Since the exports in case of the aforementioned Hydroelectric projects are in INR, the condition for submitting Bank certificate evidencing receipt of payment in freely convertible currency as required under Notification No. 45/2001-CE (NT) dated 26.06.2001 as amended have to be read harmoniously with the Agreement on Trade, Commerce and Transit as well as decisions of the Government of India.

4. Accordingly, it is clarified that payment condition relating to currency with regard to
export of commodities to Bhutan for the said Hydroelectric projects shall be considered to have been discharged in cases where payment has been received in Indian currency through the banking channels.

5. Any difficulty in the implementation of this circular may be brought to the notice of the Board. Hindi version will follow.

[F. No.201/08/2010-CX 6]

(Shankar Prasad Sarma)
Under Secretary to the Government of India

TIOL Tube Latest

GST: एक देश एक कर | गोष्ठी - संस्करण २