Weekly GST Communique A2Z Taxcorp LLP 18-03-2024

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Contents
Important Judgments, Rulings of the week

Important Notifications, Circulars of the week
Important Press Releases of the week
Important Updates of the week
Videos of the week

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GST
Important Judgments, Rulings of the week
Demand Order cannot be passed without issuing the Show Cause Notice
The Hon’ble Allahabad High Court in the case of Yash Building Material v. State of Uttar Pradesh [Writ Tax
No. 1435 of 2022 dated January 31, 2024], held that a demand order passed without issuance of a Show
Cause Notice (“SCN”) are without legal basis and are required to be quashed.
Our Comments:
Section 74 of the CGST Act talks about “Determination of tax not paid or short paid or erroneously refunded
or input tax credit wrongly availed or utilized by reason of fraud or any wilful-misstatement or suppression of
facts”. According to Section 74(1) of the CGST Act, where it appears to the proper officer that any tax has not
been paid or short paid or erroneously refunded or where input tax credit has been wrongly availed or utilised
by reason of fraud, or any wilful-misstatement or suppression of facts to evade tax, he shall serve notice on
the person chargeable with tax which has not been so paid or which has been so short paid or to whom the
refund has erroneously been made, or who has wrongly availed or utilised input tax credit, requiring him to
show cause as to why he should not pay the amount specified in the notice along with interest payable thereon
under Section 50 of the CGST Act and a penalty equivalent to the tax specified in the notice.
In Pari Materia case of Prity Dokania v. State of Jharkhand [Writ Petition (T) No.s 27, 28, 29, 37, 41,58 of
2021 and Ors. dated September 14, 2022], the Hon’ble High Court of Jharkhand held that summary of SCN,
summary of order and consequential orders issued without issuance of SCN and without offering hearing are
required to be quashed. The concerned authority should pass fresh orders after following principles of natural
justice.
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Therefore, in the current case the demand order should have been issued after the issuance of SCN.
For complete case summary Click Here
Appeal allowed where pre-deposit made through Form GST DRC-03 due to technical glitch
The Hon’ble Andhra Pradesh High Court in the case of Manjunatha Oil Mill v. Assistant Commissioner (ST)
[W.P. No. 2153 of 2024 dated February 2, 2024] set aside the Impugned Rejection Order in case where the
appeal filed was rejected on the ground that, pre-deposit was made through Form GST DRC-03 instead of the
required Form APL-01, due to technical glitch.
No SCN to be issued If GST liability paid with Interest before issuance of SCN
The Hon’ble Telangana High Court in the case of Rays Power Infra Pvt. Ltd. v. Superintendent of Central Tax
[Writ Petition 298 of 2024 dated February 28, 2024], held that if the taxpayer clears all the tax liability along
with interest at any day, prior to the issuance of show cause notice, they would not liable for any further
additional taxes by way of penalty or interest and the proceedings will be considered concluded.
Our Comments:
Section 73 of the CGST Act talks about “Determination of tax not paid or short paid or erroneously refunded
or input tax credit wrongly availed or utilised for any reason other than fraud or any wilful misstatement or
suppression of facts”. According to Section 73(6) of the CGST Act when the proper officer, on receipt of such
liability, shall not serve any notice under sub-section (1) or, as the case may be, the statement under sub-
section (3), in respect of the tax so paid or any penalty payable under the provisions of this Act or the rules
made thereunder.
In the case in hand, the Impugned Noice was issued after the proper officer was in receipt of the tax liability
paid by the Petitioner including interest thereon.
In Pari Materia case in pre-GST regime, of Calderys India Refractories Ltd. v. Commissioner of Central Excise,
Aurangabad [APPEAL NO. ST/702/2012 MUM. dated FEBRUARY 25, 2013], the case before the Ld. CESTAT,
Mumbai Bench where the assessee received services from its group companies abroad but did not discharge
service tax liability on a reverse charge basis but discharged service tax liability along with interest thereon as
soon as short payment was pointed out by audit party and intimated department, much before issue of show
cause notice, imposition of penalty under sections 76, 77 and 78 was not sustainable.
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Confiscated goods and vehicles can be released by depositing 25% of the amount mentioned in the Order
in cash and furnishing a bank guarantee for the balance
The Hon’ble Punjab and Haryana High Court in the case of M/s. Kanchan Supplier v. State of Punjab and Ors.
[Civil Writ Petition No. 1629 of 2024 dated January 24, 2024] held that the Assessee has the right to appeal
against the Order. Further, the vehicle and the goods confiscated shall be released upon furnishing 25% of the
amount mentioned in the Impugned Order, and the outstanding balance shall be secured by furnishing a bank
guarantee.
Our Comments:
Section 130 of the CGST Act talks about “Confiscation of goods or conveyances and levy of penalty”. According
to Section 130 (2) of the CGST Act, whenever confiscation of any goods or conveyance is authorized by the
CGST Act, the officer adjudging it shall give to the owner of the goods an option to pay in lieu of confiscation,
such fine as the said officer thinks fit, provided that such fine leviable shall not exceed the market value of the
goods confiscated, less the tax chargeable and the aggregate of such fine and penalty leviable shall not be less
than the penalty equal to hundred per cent of the tax payable on such goods. If any such conveyance is used
for the carriage of the goods or passengers for hire, the owner of the conveyance shall be given the option to
pay in lieu of the confiscation of the conveyance a fine equal to the tax payable on the goods being transported
thereon.
Appellant can remit the amount of pre-deposit from attached bank accounts for filing an appeal
The Hon’ble Tripura High Court in the case of Kamrul Nahar v. Union of India [Writ Petition (Civil) No.
253/2023 dated January 03, 2024], directed the bank to permit the Petitioner to remit amount of pre-deposit
as required in terms of Notification No. 53/2023 dated November 04, 2023 (“the Notification”) from attached
bank accounts to enable the Petitioner to file appeal within cut-off date.
Our Comments:
Section 107 of the CGST Act talks about “Appeals to Appellate Authority”. According to Section 107 (6) (b) of
the CGST Act, no appeal shall be filed under sub-section (1) of Section 107 of the CGST Act, unless the appellant
has paid a sum equal to ten per cent of the remaining amount of tax in dispute arising from the said
order, subject to a maximum of twenty-five crore rupees, in relation to which the appeal has been filed.
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GST Registration not to be cancelled based on vague SCN issued by Revenue Department
The Hon’ble Delhi High Court in the case of NP Trading Co. v. Commissioner of GST [W.P. (C) NO. 1399 OF
2024 dated February 09, 2024] set aside the Impugned Order, thereby cancelling Assessee GST registration
on the ground that no details were provided in SCN relating to alleged invoices or bills made without the
supply of goods or services.
ITC cannot be denied in case of bonafide errors in filing GST returns where no loss of revenue occurs
The Hon’ble Bombay High Court in the case of NRB Bearings Ltd. v. Commissioner of State Tax [Writ Petition
No. 10771 of 2023 dated February 14, 2024], allowed the petition while permitting the Assessee to rectify
FORM GSTR-1 and held that in cases of bonafide errors in filing returns where no loss of revenue occurs, the
technicalities should not prevent rectification.
Our Comments:
Section 39 of the CGST Act talks about “Furnishing of Returns”. According to Section 39(9) of the CGST Act
where any registered person after furnishing a return under sub-section (1) or sub-section (2) or sub-section
(3) or sub-section (4) or sub-section (5) discovers any omission or incorrect particulars therein, other than as
a result of scrutiny, audit, inspection or enforcement activity by the tax authorities, he shall rectify such
omission or incorrect particulars.
In Pari Materia case of the Hon’ble Orissa High Court in M/s. Y. B. Constructions Pvt. Ltd. v. Union of India
and others [W.P.(C) No.12232 of 2021 dated February 22, 2023], permitted the assessee to rectify the error
of mentioning B2C instead of B2B in Form GSTR-1 at the time of filing of returns, holding that the assessee
would be prejudiced if it is not allowed to avail the benefits of ITC. Directed the Respondent to receive the
corrected Form GSTR-1 manually and upload the details on the web portal within 4 weeks.
Hence, the Hon’ble Bombay High Court has rightly passed the decision that when there is no revenue loss
then FORM GSTR-1 can be amended in order to claim ITC.
Section 16(2)(c) of the CGST Act constitutionally challenged
The Hon’ble Orissa High Court in OSL Securities Ltd. v. Union of India [W.P. (C) No. 2695 OF 2024 dated
February 06, 2024] granted interim stay in favour of the Assessee in case where the Assessee challenged the
constitutional validity of Section 16(2)(c) of the Central Goods and Services Tax Act, 2017 (“the CGST Act”).
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ITC is available in relation to construction of immovable property, which is further let out for commercial
purpose
The West Bengal AAAR, in the case of In Re. Bathula Mahesh Babu [Appeal No. 04/WBAAAR/Appeal/2023
dated January 24, 2024] allowed the appeal filed by the Revenue Department, thereby holding that ITC is
allowed on Input Goods or Services in relation to construction of immovable property, where such expenses
are not capitalized and which is further let out for commercial purposes.
Our Comments:
The case of Chief Commissioner of Central Goods and Services Tax and Others v. M/s Safari Retreats Private
Limited and Others [SLP(C) 26696/2019] which is pending before the Hon’ble Supreme Court, is at its final
legs as the Department has filed an appeal against the judgement passed by Hon’ble Orissa High Court in the
case of Safari Retreats Private Limited and Others v. Chief Commissioner, Central Goods and Services Tax
and Others [W.P. (C) 20463 of 2018 dated April 17, 2019] wherein the Hon’ble High Court allowed the
availment of ITC on material input/services used for construction of immovable property which is to be used
in the course or furtherance of business i.e. being further let out to various tenant/lessees.
For complete ruling summary Click Here
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Kerala GST Department Designates 'Proper Officer' for Key Provisions and Assigns Functions under the
KGST Act
The Kerala GST Department vide Circular No. 02/2024 dated March 06, 2024, amends Circular No. 05/2023,
dated January 08, 2023 to authorize Deputy and Assistant State Tax Officers to perform tasks under Rules 9,
10, and 12 of the Kerala GST Rules, 2017, affecting registration duties, effective immediately.
In exercise of the powers conferred by Clause (91) of section 2 of the Kerala State Goods and Services Tax Act,
2017 (20 of 2017) (hereinafter referred to as the Act) and subject to sub-section (2) of section 5 of the said
Act, the Commissioner of state tax hereby assign the functions under rules 9, Rule 10 and rule 12 of the Kerala
Goods and Services Tax Rules, 2017 to the Deputy State Tax Officer/ Assistant State Tax Officer also. The
Circular No. 5/2023, dated 08/01/2023 stands amended as under.
In the circular No. 5/2023 of the Commissioner of State Tax, in the table, -
in the third column against Sl. No. 4, the words and figures, "Rule 9", "Rule 10" and "Rule 12" shall be
omitted.
in the third column against Sl. No. 5, under the heading "Rules", -
(1) the existing Sl. No. 1 shall be renumbered as Sl. No. 1C;
(2) before the Sl. No. 1C so renumbered, the following Sl. No. and entries thereto shall be inserted,
namely, -
"1. Rule 9
1A. Rule 10
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1B Rule 12"
At present all the registration tasks for new registration under the Kerala State Goods and Services Tax Act,
2017 are done at the Central Registration Unit. Hence the officers not below the rank of an Assistant State Tax
Officer at the Central Registration Unit are assigned with the functions under Rule 9, Rule 10 and Rule 12 of
the Kerala Goods and Services Tax Rules, 2017.
This circular shall come into force at once.
For complete Circular Click Here
Punjab Govt notifies the Punjab One Time Settlement (Amendment) Scheme for Recovery of Outstanding
Dues, 2024
The Government of Punjab, Department of Excise and Taxation issued a Notification vide G.S.R.
12/P.A.8/2005/S.29-A/C.A 74/1956/S.9/P.A.8/2002/S.25/ P.A.5/2017 dated March 11, 2024, notifies the
Punjab One Time Settlement (Amendment) Scheme for Recovery of Outstanding Dues, 2024 to address unpaid
tax liabilities. This amendment, effective from its publication date in the Official Gazette, modifies several
aspects of the scheme to enhance compliance and transparency. Key changes include the specification of
eligibility criteria concerning outstanding demand limits set at rupees one crore for both the Punjab Value
Added Tax Act, 2005, and the Central Sales Tax Act, 1956, with the deadline for applications set for June 30,
2024. Additionally, definitions for "Net Demand" and "Total Demand" have been refined, and procedural
requirements have been updated, including the mandatory submission of additional statutory forms with
applications. The scheme outlines detailed processes for applying under different tax acts, including
assessment year, appeal status, self-assessment of tax, interest, and penalties, and required payment details.
It also introduces a new waiver schedule for different slabs of demand, offering substantial relief in taxes,
penalties, and interest for eligible taxpayers.
For complete Notification Click Here
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Revenue Secretary Inaugurates Foundation of Hyderabad's New GST Bhawan, the Tallest and Largest Office
Project by CBIC
Revenue Secretary, Shri Sanjay Malhotra on March 12, 2024 virtually laid the foundation stone for the New
GST Bhawan and Residential Quarters at Hyderabad for officers and staff of CGST and Customs, Hyderabad
Zone under Central Board of Indirect Taxes and Customs (CBIC).
Members of the CBIC, Chief Commissioner of CGST and Customs, Hyderabad, Director General, HRD, CBIC
and other senior officers alongwith the officers and staff of the Hyderabad Zone participated in the function.
The project consists of construction of one office tower and one residential tower to accommodate the offices
of the CGST Zone Hyderabad and to provide residential accommodation for the officers of CBIC.
The office tower christened as New GST Bhawan shall cover a built-up area of about 77000 sq meters spread
over 2 basements, 4 over ground parking and 21 office floors. Located at one of the most preferred locations
near Hitec city, Hyderabad, the New GST Bhawan would house most of the CGST offices of Hyderabad, which
are currently running in rented premises. It would accommodate nearly 1500 officers and staff.
A modern building designed according to GRIHA rating and green norms, the building is expected to provide
improved tax payer services and enhance employee welfare. Building will host a large GST Suvidha Kendra
and boast of a state of art Auditorium. The residential tower shall consist of 21 apartments with a built-up
area of approx. 7900 sq meters.
Buildings shall be constructed at an estimated cost of Rs. 645 Crores by the CPWD in EPC mode in a period of
three years after award. New project is third largest infrastructure project of CBIC in monetary terms.
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Addressing the gathering, Revenue Secretary appreciated CBIC for taking up such projects which would ensure
proper work space and residential facilities for the officers and staff apart from creating modern environment
for trade facilitation. He appreciated the Hyderabad Zone for taking up the infrastructure projects in right
earnest and requested all institutions to speed up the execution of the building works so that the state of the
art facilities become available at the earliest.
Shri Alok Shukla, Member (Admn), CBIC expressed his satisfaction about the project, which is one of the
largest office cum residential projects undertaken by CBIC, receiving approval in a very short space of time.
He thanked the Union Finance Minister and Revenue Secretary for their guidance and support in this
endeavor of CBIC.
Shri Vivek Ranjan, Zonal Member, CBIC highlighted the salient features of the project and requested the
Hyderabad Zone to coordinate with the CPWD for timely implementation of the project.
Shri Sandeep Prakash, Chief Commissioner, CGST & Customs, Hyderabad Zone highlighted that this is the
second infrastructure project of the Zone to have been launched in past six months. First project for
construction of Customs House at Shamsabad near the international airport is under execution for expected
completion by end December 2024. This new project of construction of New GST Bhawan is likely to be
completed by third quarter of 2027. He expressed the gratitude of the officers and staff of Hyderabad Zone
to the Government for expeditious approvals for these projects which would result in realization of long
pending demands for office and residential space for CBIC at Hyderabad.
In another event, Dr. Vivek Joshi, Secretary, DFS, Ministry of Finance, inaugurated the new office premises of
Pension Fund Regulatory Development Authority (PFRDA), at World Trade Center (WTC), Nauroji Nagar in
New Delhi, today. The premises offers modern amenities. It is an environmentally friendly building and makes
efficient use of water and sunlight.
For complete Press Release Click Here
MHA extends financial support of 50% on GST on purchase of goods from Kendriya Police Kalyan Bhandar
as a welfare measure, the decision to be effective from April 01, 2024
The Ministry of Home Affairs has decided to extend financial support of 50% on Goods and Services Tax
(GST) on purchase of goods from Kendriya Police Kalyan Bhandar as a welfare measure. This decision shall
be effective from April 01, 2024.
Under the visionary leadership of Prime Minister Shri Narendra Modi and the able guidance of Union Home
Minister Shri Amit Shah the decision was taken to benefit serving and retired personnel of Central Armed
Police Forces (CAPFs), Central Police Organisations and State Police Forces and their families.
The Ministry of Home Affairs recognizes and respects the hard work of force personnel in maintaining internal
security of the Country and gives utmost importance to the welfare of CAPFs and their families.
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Personnel of Central Armed Police Forces are often deployed in far flung areas and inhospitable terrain where
they perform their duties regardless of risk to lives and personal inconvenience. Kendriya Police Kalyan
Bhandar was established in 2006. Currently it has all India presence with 119 Master Bhandars and more than
1700 Subsidiary Bhandars through which goods at cheaper rates are being made available to the force
personnel.
Government approves E-Vehicle policy to promote India as a manufacturing destination for EVs
The Union Government has approved a scheme to promote India as a manufacturing destination so that e-
vehicles (EV) with the latest technology can be manufactured in the country. The policy is designed to attract
investments in the e-vehicle space by reputed global EV manufacturers.
This will provide Indian consumers with access to latest technology, boost the Make in India initiative,
strengthen the EV ecosystem by promoting healthy competition among EV players leading to high volume of
production, economies of scale, lower cost of production, reduce imports of crude Oil, lower trade deficit,
reduce air pollution, particularly in cities, and will have a positive impact on health and environment.
The policy entails the following: -
• Minimum Investment required: Rs 4150 Cr (∼USD 500 Mn)
• No limit on maximum Investment
• Timeline for manufacturing: 3 years for setting up manufacturing facilities in India, and to start
commercial production of e- vehicles, and reach 50% domestic value addition (DVA) within 5 years at
the maximum.
• Domestic value addition (DVA) during manufacturing: A localization level of 25% by the 3rd year and
50% by the 5th year will have to be achieved
• The customs duty of 15% (as applicable to CKD units) would be applicable on vehicle of minimum CIF
value of USD 35,000 and above for a total period of 5 years subject to the manufacturer setting up
manufacturing facilities in India within a 3-year period.
• The duty foregone on the total number of EV allowed for import would be limited to the investment
made or ₹6484 Cr (equal to incentive under PLI scheme) whichever is lower. A maximum of 40,000 EVs
at the rate of not more than 8,000 per year would be permissible if the investment is of USD 800 Mn
or more. The carryover of unutilized annual import limits would be permitted.
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• The Investment commitment made by the company will have to be backed up by a bank guarantee in
lieu of the custom duty forgone
• The Bank guarantee will be invoked in case of non-achievement of DVA and minimum investment
criteria defined under the scheme guidelines
India's highest monthly merchandise exports Surge to $41.40 Billion in February 2024, Marking an 11.86%
Increase YoY
India’s overall exports (Merchandise and Services combined) in February 2024* is estimated to be USD 73.55
Billion, exhibiting a positive growth of 14.20 per cent over February 2023. Overall imports in February 2024*
is estimated to be USD 75.50 Billion, exhibiting a positive growth of 10.13 per cent over February 2023.
Table 1: Trade during February 2024*
February 2024 (USD Billion) February 2023 (USD Billion)

Merchandise Exports 41.40 37.01
Imports 60.11 53.58
Services* Exports 32.15 27.40
Imports 15.39 14.97
Overall Trade Exports 73.55 64.41
Imports 75.50 68.56
(Merchandise +Services) * Trade Balance -1.95 -4.15
* Note: The latest data for services sector released by RBI is for January 2024. The data for February 2024 is
an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-February 2022-23
and April-September 2023 has been revised on pro-rata basis using quarterly balance of payments data.
Fig 1: Overall Trade during February 2024*
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Memorandum of Understanding (MoU) signing between DGFT and DHL
Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India, has
been actively engaging in boosting e-commerce exports from the country, leveraging its ‘District as Export
Hubs’ initiative. The goal is to promote and enable micro, small and medium enterprises (MSMEs) to explore
the international markets through e-commerce channels.
Taking this initiative further, DGFT has been collaborating with various e-commerce platforms and other
service providers to handhold and do capacity building and training sessions in the identified districts under
the districts as export hubs initiative. In a similar collaboration, on March 14, 2024, DGFT partnered with
the global logistics service provider, DHL, through the signing of a Memorandum of Understanding (MoU)
which will cover 76 districts in three phases, to conduct capacity-building sessions, training, and workshops
for making Indian MSMEs export-ready.
During the MoU signing event, Shri Sunil Barthwal, Commerce Secretary, highlighted the importance of e-
Commerce ecosystem, and pointed out the strides taken by India to create a digital infrastructure which can
be leveraged to encourage MSMEs from rural India to connect to the world market. He also pointed out the
recent initiative of Bharat Mart and how such warehousing initiative would further India’s foreign trade. He
conveyed his best wishes for the initiative and hoped that this would help Indian entrepreneurs to bridge the
gap in knowledge and enter the world of international trade.
While welcoming the partnership, Shri Santosh Sarangi, DG, DGFT highlighted that the objective of this
collaboration is to introduce exporters/MSMEs to the digital commerce space so that they get an opportunity
to export “Make in India” products, tap international customers and overcome the challenges related to
logistics while exporting through the e-commerce route.
Looking forward to this partnership, John Pearson, Global CEO of DHL Express emphasized that DHL is the first
international express operator to sign a Memorandum of Understanding with the Directorate General of
Foreign Trade (DGFT). This partnership with the Government of India will further solidify DHL’s commitment
to India and aligns with DHL’s Go Trade program to empower MSMEs in the global market.
DGFT and DHL aim to bring together a team of knowledge experts to assist Indian exporters/MSMEs in the
identified districts through handholding sessions and develop a start-up kit for first-time Exporters/MSMEs
wanting to go global.
Aligning with the Foreign Trade Policy 2023, in the past few months, DGFT has signed MoUs with Amazon
India and Shiprocket covering 20 and 16 districts respectively. These collaborations with e-commerce
platforms and service providers have encouraged series of outreach events by DGFT- Regional Authorities
to onboard new exporters; promote first-time exporters, and handhold MSME producers to become exporters
through cross-border e-commerce sales under the District as Export Hub initiative.
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India-EFTA Trade and Economic Partnership Agreement; Key highlights
India-European Free Trade Association signed a Trade and Economic Partnership Agreement (TEPA) today
i.e. on March 10, 2024.
India has been working on a Trade and Economic Partnership Agreement (TEPA) with EFTA countries
comprising Switzerland, Iceland, Norway & Liechtenstein. The Union Cabinet chaired by the Hon’ble Prime
Minister has approved signing of the TEPA with EFTA States. EFTA is an inter-governmental organization set
up in 1960 for the promotion of free trade and economic integration for the benefit of its four Member
States.
Speaking on the occasion, Shri Piyush Goyal, Minister of Commerce and Industry, Food and Consumer Affairs
and Textiles said:
"TEPA is a modern and ambitious Trade Agreement. For the first time, India is signing FTA with four
developed nations - an important economic bloc in Europe. For the first time in history of FTAs, binding
commitment of $100 bn investment and 1 million direct jobs in the next 15 years has been given. The
agreement will give a boost to Make in India and provide opportunities to young & talented workforce. The
FTA will provide a window to Indian exporters to access large European and global markets."
The agreement comprises of 14 chapters with main focus on market access related to goods, rules of origin,
trade facilitation, trade remedies, sanitary and phytosanitary measures, technical barriers to trade,
investment promotion, market access on services, intellectual property rights, trade and sustainable
development and other legal and horizontal provisions.
EFTA is an important regional group, with several growing opportunities for enhancing international trade in
goods and services. EFTA is one important economic block out of the three (other two - EU &UK) in Europe.
Among EFTA countries, Switzerland is the largest trading partner of India followed by Norway.
The highlights of the agreement are:
• EFTA has committed to promote investments with the aim to increase the stock of foreign direct
investments by USD 100 billion in India in the next 15 years, and to facilitate the generation of 1 million
direct employment in India, through such investments. The investments do not cover foreign portfolio
investment.
• For the first ever time in the history of FTAs, a legal commitment is being made about promoting
target-oriented investment and creation of jobs.
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• EFTA is offering 92.2% of its tariff lines which covers 99.6% of India’s exports. The EFTA’s market access
offer covers 100% of non-agri products and tariff concession on Processed Agricultural Products (PAP).
• India is offering 82.7% of its tariff lines which covers 95.3% of EFTA exports of which more than 80%
import is Gold. The effective duty on Gold remains untouched. Sensitivity related to PLI in sectors such
as pharma, medical devices & processed food etc. have been taken while extending offers. Sectors
such as dairy, soya, coal and sensitive agricultural products are kept in exclusion list.
• India has offered 105 sub-sectors to the EFTA and secured commitments in 128 sub-sectors from
Switzerland, 114 from Norway, 107 from Liechtenstein, and 110 from Iceland.
• TEPA would stimulate our services exports in sectors of our key strength / interest such as IT services,
business services, personal, cultural, sporting and recreational services, other education services,
audio-visual services etc.
• Services offers from EFTA include better access through digital delivery of Services (Mode 1),
commercial presence (Mode 3) and improved commitments and certainty for entry and temporary
stay of key personnel (Mode 4).
• TEPA has provisions for Mutual Recognition Agreements in Professional Services like nursing,
chartered accountants, architects etc.
• Commitments related to Intellectual Property Rights in TEPA are at TRIPS level. The IPR chapter with
Switzerland, which has high standard for IPR, shows our robust IPR regime. India’s interests in generic
medicines and concerns related to evergreening of patents have been fully addressed.
• India signals its commitment to Sustainable development, inclusive growth, social development and
environmental protection
• Fosters transparency, efficiency, simplification, harmonization and consistency of trade procedures
• TEPA will empower our exporters access to specialized inputs and create conducive trade and
investment environment. This would boost exports of Indian made goods as well as provide
opportunities for services sector to access more markets.
• TEPA provides an opportunity to integrate into EU markets. Over 40% of Switzerland’s global services
exports are to the EU. Indian companies can look to Switzerland as a base for extending its market
reach to EU.
• TEPA will give impetus to “Make in India” and Atmanirbhar Bharat by encouraging domestic
manufacturing in sectors such as Infrastructure and Connectivity, Manufacturing, Machinery,
Pharmaceuticals, Chemicals, Food Processing, Transport and Logistics, Banking and Financial Services
and Insurance.
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• TEPA would accelerate creation of large number of direct jobs for India’s young aspirational workforce
in next 15 years in India, including better facilities for vocational and technical training. TEPA also
facilitates technology collaboration and access to world leading technologies in precision engineering,
health sciences, renewable energy, Innovation and R&D.
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GSTN: Now GST payments through UPI & Debit/Credit Cards are available in 15 states/UTs
The GSTN issued an Update dated March 11, 2024, stating that now you can make GST Payments through UPI
& Debit/Credit Cards applicable in 15 States/UTs.
Here is the List of UTs:
Assam Delhi Goa

Gujarat Haryana Himachal Pradesh
Jharkhand Karnataka Kerala
Madhya Pradesh Maharashtra Odisha
Rajasthan Tripura Uttar Pradesh
Rest of India and Banks to be covered soon.
This is applicable for all UPIs, Credit/Debit cards powered by Rupay, MasterCard, Visa and Diners via Kotak
Mahindra Bank.
To Know More Click Here
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GSTN issued Important Advisory on GSTR-1/IFF: Introduction of New 14A and 15A tables
The GSTN issued Advisory No. 627 dated March 12, 2024 on GSTR-1/IFF regarding the Introduction of New
14A and 15A tables.
It is informed to all taxpayers that as per Notification No. 26/2022 – Central Tax dated 26th December 2022
two new Table 14A and Table 15A have been introduced in GSTR-1 to capture the amendment details of the
supplies made through e-commerce operators (ECO) on which e-commerce operators are liable to collect tax
under section 52 or liable to pay tax u/s 9(5) of the CGST Act, 2017. These tables have now been made live on
the GST common portal and will be available in GSTR-1/IFF from February 2024 tax period onwards. These
amendment tables are relevant for those taxpayers who have reported the supplies in Table 14 or Table 15 in
earlier tax periods.
Table 14A – Amended Supplies made through e-commerce operator (ECO) in GSTR-1
In this table, the supplier can amend the detail of original supplies that he has already reported in original
table 14 under below two sections in earlier return periods.
1. 14(a) Liable to collect tax u/s 52(TCS)
2. 14(b) Liable to pay tax u/s 9(5)
Table 15A – Amended Supplies u/s 9(5) in GSTR-1/IFF
In this table, the e-commerce operator can amend the detail of original supplies that he has already reported
in table 15 originally under following four sections in earlier return periods.
1. Registered Supplier and Registered Recipient (B2B)
2. Registered Supplier and Unregistered Recipient (B2C)
3. Unregistered Supplier and Registered Recipient (URP2B)
4. Unregistered Supplier and Unregistered Recipient (URP2C)
To view the table 14A/15A, taxpayer can navigate to Returns Dashboard > Selection of Period > Details of
outward supplies of goods or services GSTR-1 > Prepare Online
Other Salient features: -
1. Amended taxable values will be auto-populated from table 14A(b) to Table 3.1.1(ii) of GSTR-3B.
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2. Amended taxable value along with tax liabilities from all the four sections of table 15A i.e., B2B, B2C,
URP2B and URP2C will be auto-populated to table 3.1.1(i) of GSTR-3B.
3. There will be no auto-population of e-invoice in Table -15A. E-invoices reported for 9(5) supplies will
be populated in FORM GSTR-1 as per existing functionality. E-commerce operators are advised to
examine and add such records in table 15A related to 9(5) supplies.
4. E-commerce operator shall report amendment of debit or credit notes related to such services
notified u/s 9(5) in existing table 9C of GSTR-1/IFF.
Impact of new tables of ECO-Documents in GSTR-2B
For the ease of registered recipient who are making supplies through e-commerce operator, a new table “ECO
– Documents (Amendment)” is being added in GSTR-2B. In this table, the registered recipient can view the
amended document details of the supplies made through e-commerce operator on which ecommerce
operator is liable to pay tax under section 9(5) of the Act.
The values will be auto populated from Registered Supplier and Registered Recipient (B2B) and Unregistered
Supplier and Registered Recipient (URP2B) section of table 15A to this new ECO - Documents table of GSTR-
2B.
To view the ECO-Documents (Amendment) table, taxpayer can navigate to Returns Dashboard > Selection of
Period > Auto- drafted ITC Statement for the month GSTR 2B > View.
To view the records in ECO-Documents (Amendment) table, taxpayer can navigate to Returns Dashboard >
Selection of Period > Auto- drafted ITC Statement for the month GSTR 2B > View > ECO Documents
(Amendment)
ICAI Releases Handbook on Compliances of GST in Banking Sector
The Institute of Chartered Accountants of India (ICAI) has released the February 2024 edition of "Compliances
of GST in the Banking Sector." This publication is designed to provide updated knowledge on the provisions of
GST that are particularly applicable to banks. In an effort to fulfill its mission of disseminating knowledge and
increasing awareness, the GST & Indirect Taxes Committee of the ICAI has developed this edition. It contains
comprehensive coverage of provisions relevant to the banking industry, meticulously compiled for the benefit
of its members. This initiative is part of the ICAI's broader strategy, which includes the publication of technical
materials, newsletters, e-learning, and the organization of various programs, certificate courses, and webcasts
for all stakeholders.

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Our Article of the week
Activities to be undertaken for GST Compliances of FY 2023-24 in March 2024

We are fast approaching the end of the financial year 2023-24. It mandates some activities to be carried out
under GST laws for a smooth transition to the Financial Year 2023-24. We have listed down certain
important activities for the smooth transition/ closure of the Financial Year 2023-24:
A. Availment of correct Input Tax Credit for the FY 2023-24:
1. Prepare the yearly reconciliation of ITC booked in books and ITC availed in GSTR 3B during the
FY 2023-24 and availed in the subsequent month’s GSTR 3B till 30th November 2024 or date of
filing Annual return for FY 2023-24, whichever is earlier and reconcile the same with GSTR 2B.
2. In case any invoices are not booked in the books of accounts, however, the ITC is availed as
found in GSTR 2B, kindly record the said invoices in the books of accounts. Further, if ITC was
reversed in Table 4(B)(2) of GSTR 3B, as invoices reflected in GSTR 2B but not recorded in Books
of Accounts, the same needs to be reclaimed which was reversed in the earlier tax period on
account of invoices recorded in Books of Accounts.
3. Follow up with suppliers to furnish/report transactions in their GSTR 1 with payment of taxes
in GSTR 3B in case stated transactions are not populated in your GSTR 2B.
4. Identify the ineligible ITC (Blocked credit/ ITC on exempt supplies) already availed in GSTR 3B
of the 2023-24 and reverse the same. In case, where ITC has been wrongly availed and utilized,
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then reverse/pay the same along with interest @24% on such ITC wrongly availed and utilized
if ITC, to avoid the litigation and demand of interest & penalty in the future. Further, note that
no interest & penalty is leviable on the reversal of wrongly availed credit but not utilized.
5. Prepare and Review that any payment to suppliers is not pending beyond 180 days from the
date of issuance of the supplier’s invoice. If such ITC is availed without making the payment
within 180 days from the date of issuance of the invoice, then said ITC needs to be reversed
along with interest @ 18%. Further, re-avail such ITC in subsequent months’ GSTR-3B if
payment has been made without any time limit (i.e. even post-filing of GSTR 3B for October
2024 as the time limit for availing ITC u/s 16(4) of CGST Act is not applicable in the case of re-
availment of ITC).
6. In case of purchases made from any composition supplier, ITC is not available and should not
be booked in books as well as availed in GSTR 3B. If done, then, reverse the same in books as
well as in return.
7. Check If there is any exempt income undertaken during the financial year, ITC reversal shall be
re-calculated and considered in accordance with Rules 42 and 43 of CGST Rules at the end of
year. Any additional reversal required shall be accounted for in GSTR-3B of March 2024 or
thereafter. Alternatively, if excess ITC has been reversed under Table 4(B)(1) of GSTR 3B by the
Company during the year, such excess ITC can be reclaimed in March 2024 GSTR 3B or
thereafter.
8. Compile & reconcile ITC auto-populated in GSTR 2B for the full FY 2023-24 and for the period
April to October 2024 (relevant for FY 2023-24) and identify the suppliers whose registration
has been either cancelled or suspended for any reasons during the FY 2023-24 for your onward
needful actions.
9. In compiled data of GSTR 2B, check the status of the date of filing of GSTR-1 and GSTR 3B of the
suppliers to know whether your suppliers are tax compliant or not as your ITC has been made
totally dependent on the compliances done by the suppliers.
10. In case invoices found in GSTR 2B, do not belong to your Company, and ITC is availed on the
same, kindly reverse the ITC to avoid future litigation.
11. Check for any supplier's GSTIN has not been canceled from GSTR-2B data. If any supplier’s
GSTIN is cancelled, then ask the reason for the cancellation of GSTIN say GSTIN is cancelled due
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to any reason like failure to file GSTR 3B return and ask suppliers to file the returns to avoid ITC
litigation in the future.
12. Check for the transactions covered under reverse charge mechanism (RCM) either from
registered suppliers or unregistered suppliers and make the payment of tax under RCM as per
time of supply provisions and claim ITC if not done earlier. Also, raise the self-invoices and
payment vouchers in case of specified goods or services covered under RCM, received from an
unregistered person.
13. Check that if the supplier has crossed the e-invoice turnover limit and is not generating IRN for
tax invoices, then the invoices raised are not considered valid as per the e-invoicing mandate.
Hence, ITC claimed on such invalid invoices, can be denied in the future by the department.
Thus, accordingly, communicate with your respective suppliers.
14. Check whether ITC has been reversed or not for transactions such as Discount Received, sales
of Securities (refer to Explanation 2(b) of Rule 45 of the CGST Rules, 2017), etc., to avoid ITC
reversal litigation in the future.
15. Check physical stock and the entry of the same in the books. ITC should be reversed if while
checking the physical stock, the stock is not found. If any difference is found in both then do
check if any sales are missed while in books.
B. Reporting of correct outward supplies for the FY 2023-24:
1. Prepare and reconcile the turnover as reported in GSTR 1/GSTR 3B with books of accounts for
FY 2023-24. Also, check that it has been classified under the correct HSN/ SAC code and correct
GST rate has been levied on the same. Further, any outward supplies of FY 2023-24 shown in
the period of April to October 2024 should be captured properly for proper disclosure in GSTR
9 & GSTR 9C of FY 2023-24.
2. Compile and reconcile the amount of taxes paid in GSTR 1 and GSTR 3B filed during the FY 2023-
24 with books of accounts and pay the tax if there is any shortfall vide filing DRC 03 to avoid
litigation.
3. Reconcile the debit notes and credit notes as per books with GSTR-1 and GSTR-3B and
differences, if any, shall be accounted for accordingly.
4. In the case of exempt supplies, ensure the bill of supply is issued and reported in GST returns.
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5. In case of supply between related parties, verify whether provisions of Section 15 – Valuation
of CGST Act read with Rule 28 of CGST Rules followed by the taxpayer.
6. Prepare the reconciliation of E-way bills generated during the FY 2023-24 with tax invoices
reported in GSTR 1 and give prior intimation to the department in case of any deficiency.
7. In case of compulsory generation of e-invoices, check & reconcile whether all the tax invoices
for B2B supplies have been duly reported on the dedicated e-invoice portal and IRN generated
with QR code and digitally signed. If not, then kindly report the same on the e-invoice portal
and take the necessary action in the subsequent month’s GSTR 1. The government has made it
mandatory to generate e-invoice within 30 days from the date of the invoice. Further, prepare
reconciliation with e-invoices with IRN viz. e-way bills generated viz. reported or furnished in
GSTR 1.
8. In case of the export of goods, reconcile the shipping bill details with GSTR-1. This is necessary
for claiming the refund of unutilized ITC / GST paid on export.
9. Check whether all the invoices raised during the FY 2023-24 have been properly reported in
GSTR 1 and taxes have been paid thereon in GSTR 3B. In case, any kind of amendment is
required viz. GSTIN, Invoice Number, Invoice Date, Taxable Value, taxes, B2C to B2B, etc., need
to be done, then the same must be done till 30th November 2024.
10. Check other incomes from the Profit and Loss including items like vouchers or coupons
received, scrap of sales, etc., to determine if any applicable taxes are payable, if yes, then pay
tax accordingly.
11. Check whether the GST paid on advances received in FY 2023-24 towards the supply of services
made or agreed to be made has been properly adjusted in GSTR 1 and GSTR 3B.
12. Check the tax compliances in case of supply of business assets during the FY 2023-24 on which
ITC has been availed.
13. In case of material sent for job work, check whether the same has been returned within the
time limit prescribed (Inputs – 1 year and Capital goods – 3 years) and the same has been duly
reported in ITC 04.
14. Check whether the goods sent on an approval basis have been either returned within 6 months
or sold on the issuance of tax invoices.
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C. Reverse Charge Mechanism Supplies:
1. To identify all expenses subject to RCM (sitting fees paid to directors, GTA, Security Services,
rent a Cab, Advocate fees, etc.) and reconcile the same with RCM liability discharged in GSTR-
3B. The differential liability if any shall be discharged along with interest as per time of supply
provisions.
2. Reconcile the foreign expenditure as per financials with import details disclosed in the GST
returns.
3. To verify the self-invoices and payment vouchers issued for supplies received from
unregistered persons and subject to RCM.
4. ITC availed in respect of RCM transactions shall be equal to or less than GST liability discharged
under RCM. Where the ITC is disallowed in respect of the RCM discharged by the taxpayer,
such ITC shall be disclosed in Table 4B(1) of GSTR-3B.
D. Important Activities to be undertaken:
1. New Tax Invoice Series for FY 2024-25: Adopt new document series unique for FY 2024-25
preferably a separate series for each GST registration to ensure easy identification and
verification.
2. Important step to be taken by the exporters before the beginning of FY 2024-25: Apply for
Letter of Undertaking (LUT) in Form GST RFD 11 for FY 2024-25 to continue export of
goods/services or supplies to SEZ without payment of GST from April 01, 2024.
3. Enrolment for Composition Scheme FY 2024-25: The GST Portal will remain open until March
31, 2024, for taxpayers who wish to enroll in the composition scheme for the financial year
2024-25. To apply, file Form CMP-02 by navigating to ‘Services -> Registration -> Application to
Opt for Composition Levy’.
4. Filing of ITC-03 for Transition to Composition Scheme: In case of transitioning from a regular
taxpayer to a composition taxpayer, ITC-03 is required to be filed within 60 days from the
commencement of the financial year, i.e., on or before 30th May 2024.
5. Time limit to avail of the option to opt out from the QRMP Scheme: Taxpayers having a
Turnover below Rs 5 Crores shall have the option to select the frequency of GST return filing
for FY 2024-25 till 30th April 2024. So, if the taxpayers have opted for Jan – Mar 2024 and want
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to continue monthly filing of returns from FY 2024-25, they need to take action by 30th April
2024.
6. Time limit for availing ITC pertaining to the FY 2023-24 coming to an end: Avail the ITC
pertaining to FY 2023-24 till 30th November 2024 or the date of filing of Annual return for FY
2023-24 whichever is earlier. Hence, prepare reconciliation of ITC for FY 2023-24 is availed in
FY 2023-24 and in the period April to October 2024 for proper disclosure in GSTR 9 & GSTR 9C
of FY 2023-24.
7. Time limit for issuance of credit notes under GST for FY 2023-24: Credit Notes for supplies
made during FY 2023-24 can be issued but not later than 30th November 2024 or the date of
filing of the Annual return for FY 2023-24 whichever is earlier. Hence, capture CN details of FY
2023-24 are shown in FY 2023-24 and in the period April to November 2024 for proper
disclosure in GSTR 9 & GSTR 9C of FY 2023-24.
8. Cross Charge: Identify the common expenses incurred for related or distinct persons on which
ITC has been availed by the taxpayer. The taxpayer needs to cross-charge such expenses to the
respective entities / GSTIN of the same entity on the basis of turnover (or such other reasonable
method of allocation as applicable to the industry).
D. Other Important Aspects for FY 2023-24:
1. Check whether the purchase (ITC) register prepared for FY 2023-24 contains all necessary
details/ information like tax invoice no./ date, description of goods or services, nature of goods
or services like inputs/capital goods/input services and account head, etc. for ITC matching with
supplier’s invoice.
2. In case of year end discounts given by the taxpayer to its agents, the GST impact of same is duly
accounted for in the books and GST returns.
3. Re-computation of reversal of ITC under Rule 42 and Rule 43.
4. Check whether the sales register (Output taxes) captures all the necessary/ details information
as required.
5. Ensure that all the other provisions of GST Law have been duly complied with.
6. Reconcile GST TDS/TCS credit reconciliation with e-Cash Ledger on GST portal and books of
accounts for FY 2023-24.
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7. Reconciliation of E-Credit ledger with books of accounts for FY 2023-24.
8. Claim GST Refund for the FY 2021-22 as the last date to apply for GST Refund Application will
be 31st March 2024.
9. To verify whether export proceeds are received in convertible foreign exchange accompanied
by FIRCs or BRCs. Ensure that export proceeds are realized within the time limit specified by
the Foreign Exchange Management Act, 1999.
10. Reconcile the GST receivable or payable as per financials with the closing balance as per the
electronic credit ledger on the GSTN portal. Similarly, reconcile the GST cash ledger in the
financials with the electronic cash ledger on the GSTN portal.
11. To ensure that place of supply provision have been complied with in respect of supplies
undertaken by Company.
12. For the purpose of reporting under clause 44 of the Tax Audit Form (Form 3CD) for Financial
Year 2023-24, the entity (on which Tax Audit is applicable in accordance with the relevant
section of the Income Tax Act, 1961) needs to disclose the break-up of total expenditure of
entities registered or not registered under GST. The entity is advised to prepare the following
working for the purpose of reporting the expense under the aforesaid clause in the Form 3CD:-
(I) Total Amount of Expenditure (capital expenditure as well as revenue expenditure)

incurred during FY 2023-24.
(II) Expenditure in respect of entities registered under GST.
(III) Expenditure in respect of entities not registered under GST.
(IV) Expenditure relating to goods or services exempt under GST.
(V) Expenditure relating to entities falling under the composition scheme.
(VI) Expenditure relating to other registered entities.
(VII) Total payment to registered entities.
To Know more Click Here
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Videos of the Week
No benefit of Limitation Act for filling appeal under GST Law || CA (Adv) Bimal Jain
You can access the complete video on “No benefit of Limitation Act for filling appeal under GST Law || CA
(Adv) Bimal Jain” at following link: https://youtu.be/GVxpVFA3c1o?si=RF3sHO8qK7MI5FKq
No SCN to be issued If GST liability paid with Interest before issuance of SCN || CA (Adv) Bimal Jain
You can access the complete video on “No SCN to be issued If GST liability paid with Interest before issuance
of SCN || CA (Adv) Bimal Jain” at following link: https://youtu.be/NJJsOuTcAIQ?si=TUJraD77BF9IMxFA
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GST Poll
Poll of the week
Q 1. Is the reverse charge mechanism applicable only to services?
Option A – Yes (32.7%) Option B – No (67.3%)
Ans. No. Reverse charge applies to supplies of goods as well as services, which is notified for specified goods
under Notification No. 4/2017-Central Tax (Rate) dated June 28, 2017 and for specified services under
Notification No. 13/2017- Central Tax (Rate) dated June 28, 2017.
Q 2. In case of refund claim on account of export of goods and/or services made by such category of registered
taxable persons as may be notified in this behalf, what percent would be granted as refund on a provisional
basis?
Option A – 65% (13.9%) Option B – 70% (13.9%)
Option C – 80% (6.9%) Option D – 90% (65.3%)
Ans. In case of a refund claim on account of export of goods and/or services made by such category of
registered taxable persons as may be notified in this behalf, 90 percent would be granted as a refund on a
provisional basis under Section 54 (6) of the CGST Act, 2017.

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Customs & DGFT etc,

Government Extends RoDTEP Support to AA/EOU Exports with Amendment to Customs Notification
The CBIC vide Notification No. 20/2024 – Customs (N.T.) dated March 11, 2024 amends the earlier
Notification No. 24/2023-Customs (N.T.) dated April 01, 2023. The amendment extends the RoDTEP support
to exports by Advance Authorisation (AA)/Export Oriented Units (EOU), demonstrating the government’s
ongoing commitment to enhancing export incentives.
In the said notification,-
(i) in clause 2,
(a) in sub-clause (1), for item (b), the following shall be substituted, namely:-
Earlier Now
(b) against export of goods notified in Appendix 4R “(b) against export of goods notified in Appendix 4R
(hereinafter referred to as the Appendix) of the of the Foreign Trade Policy or against export of
Foreign Trade Policy, at the respective rate and cap goods under Advance Authorisation (except
notified under the said Appendix: Deemed Exports) as notified in Appendix 4RE of the
Foreign Trade Policy or export of goods
Provided that the value of the said goods for manufactured by or exported by Export Orient Unit
calculation of duty credit to be allowed under the as notified in the said Appendix 4RE, at the
Scheme shall be the declared export FOB value of the respective rate and cap notified under the Appendix
said goods or up to 1.5 times the market price of the 4R or Appendix 4RE, as applicable:
said goods, whichever is less;
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Provided that the value of the said goods for

calculation of duty credit to be allowed under the
Scheme shall be the declared export FOB value of
the said goods or, up to 1.5 times the market price
of the said goods, whichever is less;”
(b) in sub-clause (4), for the words “notified in the Appendix”, the words “notified in the said Appendix 4R or
Appendix 4RE, as applicable” shall be substituted;
Earlier Now
(4) that the duty credit allowed under the Scheme (4) that the duty credit allowed under the Scheme
against export of goods notified in the Appendix against export of goods “notified in the said
shall be subject to realisation of sale proceeds in Appendix 4R or Appendix 4RE, as applicable” shall
respect of such goods in India within the period be subject to realisation of sale proceeds in respect
allowed under the Foreign Exchange Management of such goods in India within the period allowed
Act, 1999 (42 of 1999), failing which such duty credit under the Foreign Exchange Management Act, 1999
shall be deemed to be ineligible; (42 of 1999), failing which such duty credit shall be
deemed to be ineligible;
(ii) in the TABLE, Sl. No’s. 6, 7, 8 and 10 and the entries relating thereto shall be omitted.
TABLE
Sl. No. Export categories or sectors ineligible for duty credit

(1) (2)
1. Goods which are restricted or prohibited for export under Schedule-2 of Export Policy in ITC-HS
2. Export of imported goods covered under paragraph 2.46 of Foreign Trade Policy
3. Exports through trans-shipment, meaning thereby exports that are originating in third country but
transshipped through India
4. Goods subject to minimum export price or export duty
5. Deemed exports under Foreign Trade Policy
6. Goods manufactured or exported by any of the units situated in Special Economic Zone/ Free
Trade Warehousing Zone/Electronic Hardware Technology park/Bio-Technology park/ Export
Processing Zone
7. Goods manufactured or exported by a unit licensed as hundred per cent Export Oriented Unit
8. Goods exported under Advance Authorisation or Duty Free Import Authorisation issued under
the relevant Foreign Trade Policy
9. Goods manufactured and supplied by units in Domestic Tariff Area to units in Special
Economic Zone/Free Trade Warehousing Zone
10. Goods manufactured in Special Economic Zone/Free Trade Warehousing Zone / Export Oriented
Unit / Electronic Hardware Technology Park /Bio-Technology Park/ Export Processing Zone and
exported through DTA unit
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11. Goods manufactured partly or wholly in a warehouse under section 65 of the Customs Act, 1962
(52 of 1962)
12. Goods availing the benefit of the notification No. 32/1997-Customs, dated the 1st April, 1997
13. Goods for which claim of duty credit is not filed in a shipping bill or bill of export in the
customs automated system
14. Goods that have been taken into use after manufacture.
CBIC Amends Customs Notification to Authorize Bihta, Bihar for Import and Export Activities
The CBIC vide Notification No. 21/2024-Customs (N.T.), dated March 12, 2024, has amended its previous
Notification No. 12/97-Customs (N.T.) from April 02, 1997. This amendment introduces a new entry, serial
number 2A, following serial number 2 in the Table of the principal notification. The newly added entry
designates Bihta in Bihar as an authorized location for the unloading of imported goods and the loading of
goods for export.
In the said notification, in the Table, after serial number 2 and the entries relating thereto, the following serial
number and entries shall be inserted, namely:—
TABLE
S. No. State/Union Territory Place Purpose

(1) (2) (3) (4)
“2A. Bihar Bihta Unloading of imported goods and loading of export
goods".”
CBIC Exempts Gold Imported by RBI from Entire Customs Duty, Effective from March 12, 2024
The CBIC vide Notification No. 14/2024-Customs dated March 12, 2024, exempts gold classified under
Customs Tariff Heading 7108 in the First Schedule of the Customs Tariff Act, 1975 (51 of 1975) ("the Customs
Tariff Act") from the entire customs duty specified in the First Schedule of the Customs Tariff Act and from
the entire Agriculture Infrastructure and Development Cess as levied under Section 124 of the Finance Act,
2021 (13 of 2021), when it is imported into India by the Reserve Bank of India.
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Customs Duty on Imported X-ray Tubes Increased to 15%, Effective from April 01, 2024
The CBIC vide Notification No. 15/2024-Customs dated March 12, 2024, has amended Chapter 90 of the First
Schedule of the Customs Tariff Act, 1975 (“Customs Tariff Act”), stating that Customs Duty for tariff items
9022 30 00 (X-ray tubes) and 9022 90 90 (Other) will be increased to 15% from the previous rate of 10%. This
amendment will take effect from April 1, 2024.
CBIC amends Customs Duties on X-Ray Machine Components, Effective from April 01, 2024
The CBIC vide Notification No. 16/2024-Customs dated March 12, 2024, made amendments to Notification
No. 50/2017-Customs dated June 30, 2017. These amendments involve updates to certain items under the
Customs Tariff Act, 1975. Specifically, for High Frequency X-Ray Generators (>25KHz) used in the manufacture
of X-ray machines for medical, surgical, dental, or veterinary purposes (under tariff items 9022 14 20 or 9022
14 90), the notification substitutes the earlier entry at S. No. 563A in the table with a new entry for High
Frequency X-Ray Generator (>25KHz, >=500mA), and introduces additional entries for materials used in the
manufacture of these X-ray machines. This notification is effective from April 01, 2024.
In the said notification, in the Table, -
(i) against S. No. 563A, in column (3), in entry (ii), for item (e), the following item shall be substituted, namely:
-
Earlier Now
"(e) High Frequency X-Ray Generator (>25KHz, <500 “(e) High Frequency X-Ray Generator (>25KHz)
mA) (9022 14 10);" (9022 14 10);”
(ii) after S. No. 563A, the following S. Nos. and entries shall be inserted, namely: -
(1) (2) (3) (4) (5) (6)

“563B 9022 14 10 High Frequency X-Ray Generator (>25KHz, >=500mA) for use in 10% - 9
manufacture of X-ray machines for medical, surgical, dental or
veterinary use (9022 14 20 or 9022 14 90)
563C 9022 90 90 The following goods for use in manufacture of X-ray machines 10% - 9
for medical, surgical, dental or veterinary use (9022 14 20 or
9022 14 90), namely: -
(i) Vertical Bucky;
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(ii) X-Ray Tube Suspension;
(iii) X-Ray Grid;

563D 9022 29 00 Multi Leaf Collimator/ Iris for use in manufacture of X-ray 10% - 9"
or 9022 90 machines for medical, surgical, dental or veterinary use (9022
90 14 20 or 9022 14 90)
(iii) against S. No. 564, in column (3), for item (e), the following item shall be substituted, namely: -
Earlier Now
"(e) High Frequency X-Ray Generator (>25KHz, “(e) High Frequency X-Ray Generator (>25KHz) (9022
<500 mA) (9022 14 10);" 14 10);”
CBIC modifies BCD rates on certain smart wearable devices
The CBIC has issued Notification No. 17/2024-Customs dated March 14, 2024, amending its earlier
Notification No. 57/2017-Customs dated June 30, 2017. This amendment modifies the Basic Customs Duty
(BCD) rates on certain smart wearable devices.
In the said notification, in the Table, -
(i) against S. No. 20, in column (3), in item (a), for the symbols and words “(commonly known as smart
watches);”, the symbols and words “(commonly known as smart watches) and other smart wearable devices
including smart rings, shoulder bands, neck bands or ankle bands;” shall be substituted.
TABLE
S. Chapter or Description of goods Standard Condition

No. Heading or rate No.
Sub-heading
or tariff item
(1) (2) (3) (4) (5)
20 8517 62 90 All goods other than the following goods, namely: - 10% -
or 8517 69
90 (a) Wrist wearable devices (commonly known as smart
watches) and other smart wearable devices including smart
rings, shoulder bands, neck bands or ankle bands;
(b) Optical transport equipment;
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(c) Combination of one or more of Packet Optical Transport

Product or Switch (POTP or POTS);
(d) Optical Transport Network (OTN) products;
(e) IP Radios;
(f) Soft switches and Voice over Internet Protocol (VoIP)

equipment, namely, VoIP phones, media gateways, gateway
controllers and session border controllers;
(g) Carrier Ethernet Switch, Packet Transport Node (PTN)

products, Multiprotocol Label Switching Transport Profile
(MPLS-TP) products;
(h) Multiple Input/Multiple Output (MIMO) products;
(i) Long Term Evolution (LTE) products
CBIC notified fourth tranche of India-Mauritius CECPA
The CBIC issued Notification No. 18/2024-Customs dated March 14, 2024, to amend an earlier Notification
No. 25/2021-Customs dated March 31, 2021. These amendments pertain to the India-Mauritius
Comprehensive Economic Cooperation and Partnership Agreement (CECPA), detailing its fourth tranche. The
changes involve updating the content of two tables specified within the original notification. The updated
notification is set to be effective from April 01, 2024.
CBIC Offers Concessions to Imported EVs Under Heavy Industries Ministry's Manufacturing Scheme
The CBIC vide Notification No. 19/2024-Customs dated March 15, 2024, amends Notification No. 50/2017-
Customs, dated June 30, 2017. This amendment aims to provide concessions for electric vehicles (EVs)
imported under the Ministry of Heavy Industries' scheme, which is designed to promote the manufacturing of
electric passenger cars in India.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of
1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government,
on being satisfied that it is necessary in the public interest so to do, hereby makes the following further
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amendments in the notification of the Government of India in the Ministry of Finance (Department of
Revenue), No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary,
Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017, namely:-
In the said notification,
(1) in the Table, for S. No. 526A and the entries relating thereto, the following S. No. and entries shall be
substituted, namely: -
(1) (2) (3) (4) (5) (6)

“526A. 8703 Electrically operated vehicles, if imported,-
(1) incomplete or unfinished, as a knocked down kit containing

necessary components, parts or subassemblies for assembling a
complete vehicle, including battery pack, motor, motor controller,
charger, power control unit, energy monitor, contactor, brake
system, electric compressor, whether or not individually pre-
assembled, with –
(a) none of the above components, parts or sub-assemblies inter- 15% - -
connected with each other and not mounted on a chassis
(b) any of the above components, parts or sub-assemblies inter- 35% - -
connected with each other but not mounted on a chassis
(2) in a form other than (1) above, -
(a) with a CIF value more than US $40,000 100% - -
(b) other than (a) above 70% - -
(c) with a minimum CIF value of US $35,000 imported in terms of 15% - 117”;
provisions of the 'Scheme to promote manufacturing of electric
passenger cars in India‘ notified vide S.O. No. 1363 (E) dated 15th
March, 2024, by the Ministry of Heavy Industries:
Provided that nothing contained in item (2)(c) in this S. No. shall have
effect after the 31st March, 2031.
Explanation. – For the removal of doubts, the exemption contained

in items (1)(a) and (1)(b) of this entry shall be available, even if one or
more of the components, parts or sub-assemblies required for
assembling a complete vehicle are not imported in the kit, provided
that the kit as presented, is classifiable under the heading 8703 of the
Customs Tariff Act, 1975 as per the general rules of interpretation.
(2) in the Annexure, after condition number 116 and the entry relating thereto, the following condition
number and entry shall be inserted, namely: -
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(1) (2)
“117. If the importer, at the time of import, furnishes a certificate from an officer not below the rank of
a Joint Secretary to the Government of India in the Ministry of Heavy Industries (MHI) to the effect
that,-
(i) the importer holds a valid Approval Letter issued by the Ministry of Heavy Industries under the
‘Scheme to promote manufacturing of electric passenger cars in India’ notified vide S.O. No. 1363
(E) dated 15th March, 2024, by the Ministry of Heavy Industries;
(ii) the importer satisfies the conditions of the aforesaid scheme and the quantity of the vehicles
being imported is within the limits prescribed in Para. 1.3.5 and para. 1.3.6 of the aforesaid
scheme; and
(iii) the importer is eligible for grant of this exemption in respect of the goods being imported.”.
CBIC exempts SWS on EVs imported under the Ministry of Heavy Industries' Scheme to promote
manufacturing of electric passenger cars in India
The CBIC vide Notification No. 20/2024-Customs dated March 15, 2024 has issued further amendments in its
Notification No. 11/2018-Customs, dated February 02, 2018, to exempt SWS on EVs imported under of the
Ministry of Heavy Industries' Scheme to promote manufacturing of electric passenger cars in India.
In the said notification, in the Table , against Sl. No 57, in column (2), after item (iv), and before the words “of
the Table”, the following item shall be inserted, namely: -
Table
Sl. No. Description of goods

(1) (2)
57. All goods falling under heading 8703 covered under-
(i) column (3), sub-item (b) of item (1) of S. No. 526;
(ii) column (3), sub-item (b) of item (2) of S. No. 526;
(iii) column (3), sub-item (b) of item (1) of S. No. 526A;
(iv) column (3), sub-item (b) of item (2) of S. No. 526A;
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(v) column (3), sub-item (c) of item (2) of S. No. 526A;
of the Table appended to the notification No. 50/2017-Customs dated June 30, 2017, published in
the Gazette of India vide no G.S.R. 785(E) dated June 30, 2017.
CBIC notifies the third tranche of India-UAE CEPA
The CBIC vide Notification No. 21/2024-Customs dated March 15, 2024, has amended its previous
Notification No. 22/2022-Customs dated April 30, 2022, to announce the third tranche of the India-UAE
Comprehensive Economic Partnership Agreement (CEPA). These amendments include the substitution of
Tables I, II, and III in the principal notification. The amendments are set to take effect from April 01, 2024.
CBIC notifies Agreement or Arrangement on Cooperation and Mutual Administrative Assistance (CMAA) in
Customs Matter of India and with other Countries
The CBIC vide Notification No. 23/2024 - Customs (N.T.) dated March 15, 2024 has issued amendments in its
Notification No. 58/2021-Customs (N.T.), dated July 01, 2021 under sub-section (2) of Section 151B of the
Customs Act, 1962 to notify Agreement or Arrangement on Cooperation and Mutual Administrative Assistance
(CMAA) in Customs Matter of India and with other Countries.
In the said notification, in the TABLE, after S. No. 16 and the entries relating thereto, the following S. No. and
entries shall be inserted, namely: -
S. No. Name of contracting State Agreement or Arrangement on Cooperation and Mutual
Administrative Assistance (CMAA) in Customs matters

(1) (2) (3)
"16A Republic of Armenia Agreement between the Government of the Republic of India and the
Government of the Republic of Armenia on co-operation and mutual
assistance in Customs matters.".
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CBIC Issues Instructions on the Prohibition of Importing Ferocious Dog Breeds
The CBIC issued Instruction No. 05/2024-Customs dated March 14, 2024 regarding the prohibition for import
of ferocious breeds of dog.
Reference is invited to OM F.No. L-11010(1)/251/2021-Trade (E-20671) dated March 12, 2024 received from
DC (Trade), Deptt. of Animal Husbandry and Dairying (DAHD) enclosing therein D.O. letter No. D.O. V-
11/1/2024-Anlm-Dadf dated March 12, 2024 of the Joint Secretary, Deptt. of Animal Husbandry and Dairying,
Ministry of Fisheries, Animal Husbandry and Dairying on the subject matter. (copies enclosed).
It has been informed that following breeds of dogs have been identified as ferocious which are dangerous for
human life and shall be prohibited for import, breeding, selling as pet dogs and other purposes :
"breeds (including mixed and cross breeds) like Pitbull Terrier, Tosa Inu,, American Staffordshire Terrier,
Fila Brasileiro. Dogo Argentino, American Bulldog, Boerboel, Kangal, Central Asian Shepherd Dog
(ovcharka), Caucasian Shepherd Dog (ovcharka), South Russian Shepherd Dog (ovcharka), Tornjak,
Sarplaninac, Japanese Tosa and Akita, Mastiffs (boerbulls), Rottweiler, Terriers, Rhodesian Ridgeback,
Wolf dogs, Canario, Akbash dog, Moscow Guard dog, Cane corso and every dog of the type commonly
known as a Ban Dog (or Bandog)"
It is requested that necessary action may be taken to sensitize officers under your jurisdiction with respect to
ban on import of above breeds of dogs.
For complete Instructions Click Here
Govt. notified SEZ (Second Amendment) Rules, 2024
The Ministry of Commerce and Industry, Department of Commerce issued Notification No. G.S.R. 194(E).
dated March 14, 2024, amending the Special Economic Zones Rules, 2006. This amendment, known as the
Special Economic Zones (Second Amendment) Rules, 2024, will take effect upon its publication in the Official
Gazette. The main change introduced by this amendment is the substitution of the term “aircraft leasing” with
“aircraft or ship leasing” in rule 21B of the 2006 rules, under the powers granted by section 55 of the Special
Economic Zones Act, 2005.
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DGFT Issues Amendments to FTP 2023; Enables Exemptions for Inputs Imported by AA Holders, EOUs, and
SEZs from Mandatory QCOs
The DGFT vide Notification No. 71/2023 dated March 11, 2024, has issued amendments to the Foreign Trade
Policy (FTP), 2023, effective immediately. These amendments supersede the earlier Notification No. 69/2023
dated March 07, 2024, and are aimed at facilitating the import of inputs subject to mandatory Quality Control
Orders (QCOs) by holders of Advance Authorisations, Export Oriented Units (EOUs), and Special Economic
Zones (SEZs).
In exercise of powers conferred by Section 3 read with Section 5 of the Foreign Trade (Development &
Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.03 of the Foreign Trade Policy
(FTP), 2023, the Central Government hereby makes the following amendments to FTP, 2023 with immediate
effect, in supersession of Notification No. 69/2023 dated 07.03.2024.
A new para 2.03 (A)is inserted below para 2.03 of FTP 2023, as follows:
"2.03A Importability of items under Advance Authorisation/EOU/SEZ without compliance to the

mandatory Quality Control Orders (QCOs)
Import of Inputs under Advance Authorisation/EOU/SEZ without compliance to the mandatory QCOs,
shall be subjected to the following conditions:
i) For Advance Authorisation:
a) Import of inputs under the Advance authorisation without compliance to the mandatory
QCOs shall be with pre-import condition. Such inputs shall be utilised in the manufacturing of
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the export product (making normal allowance for wastage) and shall be exported under the
same authorisation.
b) Exemption from mandatory QCOs shall be specifically endorsed in the Advance

authorisation, upon the request of the authorisation holder. Imports under Authorisation
without specific endorsement of exemption shall be made in accordance with mandatory
QCOs.
c) Any unutilised imports or the products manufactured with inputs imported without
compliance to the mandatory QCOs, shall not be transferred to DTA, even after regularisation
of default in fulfilment of export obligation. For the purpose of this para, unutilised imports
means imported inputs (without compliance of mandatory QCOs) which have not been
accounted for, as per SION/Ad-hoc Norms, in the product exported under the same
authorisation.
d) The unutilised imports shall be regularised as follows:
(i) The unutilised material shall be destroyed in the presence of jurisdictional

GST/Customs authorities who shall certify the destruction of the goods or same may be
re-exported;
(ii) In addition, such unutilised imports, irrespective of origin of goods, shall be liable to
payment of effective duty on MFN basis along with interest on the exempted material,
to Customs Authorities plus composition fee of an amount equivalent to 10% of the CIF
value of unutilized imported inputs to DGFT. Proof thereof shall be submitted to the RA
concerned before grant of EODC.
(e) The exemption from QCO will be available for physical exports only and such exemption will
not be allowed for deemed exports for Advance Authorisation Holders.
(f) The facility of clubbing under para 4.36 of Handbook of Procedures (HBP), 2023 shall not be
available.
(g) The Export Obligation period for such authorizations shall be as per para 4.40 of Handbook
of Procedures. However, EO period is restricted to 180 days from the date of clearance of
import consignment in respect of QCO exemption for textile products.
(h) Import of Inputs without compliance to the mandatory QCOs under DFIA scheme is not
allowed.
(i) This exemption is further subject to para 2.03 (c) of FTP.
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ii) For EOUs
(i) Exemption from applicability of mandatory QCOs issued under the BIS Act, 2016, shall be
provided to EOU on import of inputs which are required for export production. No DTA
clearance of such inputs or goods manufactured made out of such inputs, are allowed. An
undertaking to that effect will be submitted to the Customs authorities by the EOU at the time
of importation and a copy of the same shall also be submitted to the Development
Commissioner concerned. The exemption from QCO will be available for physical exports only
and such exemption will not be allowed for deemed exports. This exemption is further subject
to para 2.03 (c) of FTP.
iii) For SEZ
(i) Exemption from applicability of mandatory QCOs issued under the BIS Act, 2016, shall be
provided to SEZ on import of inputs which are required for export production. No DTA clearance
of such inputs or goods manufactured made out of such inputs, are allowed. An undertaking to
that effect will be submitted to the concerned Development Commissioner of the SEZ by the
SEZ Unit at the time of importation. The exemption from QCO will be available for physical
exports only. This exemption is further subject to para 2.03 (c) of FTP".
The following sub-para (c) is appended to the existing para 2.03 of FTP 2023:
"(c) The list of Ministries/Departments whose notifications on mandatory QCOs, that arc exempted by
the DGFT for goods to be utilised/consumed in manufacture of export products, are given in Appendix-
2Y of FTP 2023".
Effect of this Notification: Enabling provisions are made for exempting inputs imported by Advance
Authorisation holders, EOUs and SEZ from mandatory Quality Control Orders (QCOs). Accordingly, list of
Ministries / Departments [i.e. Ministry of Steel, Department for Promotion of Industry and Internal Trade
(DPIIT) and Ministry of Textiles] are notified in Appendix 2Y of FTP, 2023.
DGFT amends the Export Policy on Human Biological Samples, Requires NOC from CDSCO or ICMR
The DGFT issued Notification No. 72/2023 dated March 11, 2024 regarding the Export Policy of Human
Biological Samples under Chapter 30 of ITC HS schedule-2 of export policy is amended to the extent that export
of item that contains Human biological materials/samples/products under chapter 30 is free subject to the
NOC from Central Drugs Standard Control Organization (CDSCO) or Indian Council of Medical Research (ICMR),
Department of Health Research (DHR).
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In exercise of powers conferred by Section 3 read with section 5 of the Foreign Trade (Development &
Regulation) Act, 1992 (No. 22 of 1992). as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy.
2023, the Central Government hereby amends Export Policy under chapter 30 related to Human Biological
Samples, as under:
HS Code Item Description Revised Export Policy Revised Policy Condition

30021020 Antisera and other blood Free subject to NOC 1. Any human biological
fractions and immunological materials/samples/products which are
products, whether or not related to activities covered under the
modified or obtained by provision of Drugs & Cosmetics Act 1940
means of biotechnological & Rules thereunder are free for export
processes subject to No objection from CDSCO.
30021091 Antisera and other blood
fractions and immunological 2. Any human biological
products, whether or not materials/samples/products NOT covered
modified or obtained by under (1) above are free for export subject
means of biotechnological to No objection from ICMR/DHR.
processes
30021210 For diphtheria
30021220 For tetanus
30021230 For rabies
30021240 For snake venom
30021290 Other
30029010 Human Blood
Effect of the Notification:
Export Policy of Human Biological Samples under Chapter 30 of ITC HS schedule-2 of export policy is amended
to the extent that export of item that contains Human biological materials/samples/products under chapter
30 is free subject to the NOC from Central Drugs Standard Control Organization (CDSCO) or Indian Council of
Medical Research (ICMR), Department of Health Research (DHR).
DGFT incorporates Policy conditions for export of Chitin to European Union (EU) countries
The DGFT issued Notification No. 73/2023 dated March 11, 2024 regarding the incorporation of Policy
conditions for the export of Chitin, Chitosan, Chitosan Salts, Chitosan Salts (Chitosan Hydrochloride, Chitosan
Acetate, Chitosan Lactate) and Chitosan Derivatives (Chitosan Succinamide).
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In exercise of the powers conferred by Section 3 read with Section 5 of the Foreign Trade (Development &
Regulation) Act. 1992 (No. 22 of 1992). as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy.
2023. the Central Government hereby incorporates policy conditions against ITC HS code 39139090 of
Schedule -2 (Export Policy) of ITC (HS) 2023. as under: -
ITC (HS) Unit Description Export Policy Condition

Code Policy
39139090 Kg Other Free Export of Chitin. Chitosan, Chitosan Salts. Chitosan Salts
(Chitosan Hydrochloride. Chitosan Acetate. Chitosan Lactate)
and Chitosan Derivatives (Chitosan Succinamide) is 'Free'
however export to European Union is allowed subject to the
following conditions: -
i. A 'Shipment Clearance Certificate' is to be issued

consignment-wise by the CAPEXIL indicating details of the
name and address of the exporter, address of the registered
plant. IEC No. of the exporter. Plant approval Number, nature
of export product, quantity, invoice number and date, port of
loading (name of the port) and destination.
ii. After the shipment is made, the exporter shall also provide a
'Health Certificate' consignment-wise to the buyer giving
details of the product with HS Code. packaging, its origin,
destination, vessel name, date of departure. health
requirements, etc. this Health Certificate would be issued
jointly by CAPEXIL and Regional Animal Quarantine Officer.
Department of Animal Husbandary, Dairying and Fisheries.
Ministry of Agriculture and Farmers Welfare. Government of
India
Effect of This Notification: Policy conditions for export of Chitin. Chitosan. Chitosan Salts, Chitosan Salts
(Chitosan Hydrochloride. Chitosan Acetate. Chitosan Lactate) and Chitosan Derivatives (Chitosan Succinamide)
to European Union (EU) countries under ITC-HS Code 39139090 is incorporated.
RoDTEP Support for 166 Tariff Lines Begins April 01, 2024, due to Technical Updates in Customs System
The DGFT vide Notification No. 74/2023 dated March 11, 2024 notifies that the RoDTEP implementation for
exports of products manufactured by AA holders (except Deemed Exports) and EOU for 166 Tariff lines as
contained in Annexure to this notification will come into effect from April 01, 2024.
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In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992
read with Para 1.02 of the Foreign Trade Policy 2023, as amended from time to time, and in reference to the
Notification No.70/2023 dated March 08, 2024 the Central Government hereby notifies that:
"The RoDTEP implementation for exports of products manufactured by AA holders (except Deemed
Exports) and EOU for 166 Tariff lines as contained in Annexure to this notification will come into effect
from April 01, 2024."
Effect of this Notification:
The support under RODTEP for 166 Tariff lines as contained in Annexure to this notification will be available
w.e.f April 01, 2024 due to requisite technical enablement at Customs Automated System.
DGFT imposes the Minimum Export Price (MEP) on the export of Honey
The DGFT issued Notification No. 75/2023 dated March 14, 2024 regarding the Imposition of Minimum Export
Price (MEP) on the export of Honey.
Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy,
2023, the Central Government hereby imposes Minimum Expert Price (MEP) on export of Natural Honey
under ITC HS code 0409 00 00 of Schedule 2 of the ITC (HS) Export Policy, 2023, as under: -
Tariff item Item description Export Policy condition

HS Code Policy
0409 00 00 Natural Honey Free Subject to a Minimum Export Price (MEP) of US$ 2000 per
Metric Ton (PMT), till December 31, 2024 or until further orders,
whichever is earlier."
The Notification will come into immediate effect. Transitional arrangements under Para 1.05 of Foreign Trade
Policy, 2023 will be applicable.
Effect of this Notification:
Export of Natural Honey is 'Free'. Minimum Export Price (MEP) of US $2000 per Metric Ton (PMT) is imposed
till December 31, 2024 or until further orders, whichever is earlier."
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DGFT extends the export prohibition of De-Oiled Rice Bran till July 31, 2024
The DGFT vide Notification No. 76/2023 dated March 15, 2024 extends the Export prohibition of De-Oiled
Rice Bran from March 31, 2024 till July 31, 2024.
Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy,
2023, the Central Government hereby, in modification of Notification No. 51/2023 dt. December 08, 2023,
makes the following amendment related to policy condition of De-Oiled Rice Bran:
ITC HS Description Export Present Policy condition Revised Policy Condition

code Policy
2306 OIL-CAKE AND OTHER Free However, export of De- However, export of De-
RESIDUES, WHETHER SOLID OR Oiled Rice Bran under ITC Oiled Rice Bran under ITC
NOT GROUND OR IN THE FORM HS code 2306 and under HS code 2306 and under
OF PELLETS, RESULTING FROM any other HS code is any other HS code is
THE EXTRACTION OF OR prohibited till March 31, prohibited till July 31,
VEGETABLE MICROBIAL FATS 2024. 2024.
OR OILS, OTHER THOSE THAN
OF HEADING 2304 OR 2305
Effect of the Notification:
Export prohibition of De-Oiled Rice Bran is extended beyond March 31, 2024 and till July 31, 2024.
DGFT Announces Import Allocation Procedure for FY 2024-25 for Petroleum Coke in Aluminium and CPC
Industries
The DGFT vide Public Notice No. 49/2023 dated March 11, 2024 issued Procedure for Import Allocation for
the Financial Year 2024-25, for the import of Calcined Petroleum Coke for the Aluminium Industry and Raw
Petroleum Coke for the CPC manufacturing Industry.
It is submitted that the Hon'ble Supreme Court in the Writ Petition no. 13029/1985 vide its order dated
October 10, 2023, has delegated certain issues related to petroleum coke to the Commission for Air Quality
Management. The Commission in compliance of the directions of the Hon'ble Supreme court vide its order
dated February 15, 2024 decreed that Aluminium industry can import Calcined Petroleum Coke(CPC) not
exceeding 0.5 Million MTs and Calcined Petroleum coke manufacturing units can import Raw Petroleum Coke
(RPC) not exceeding 1.9 Million MTs during 2024-25. In light of the order of the Commission for Air Quality
Management, the import policy condition of Petroleum Coke was amended vide Notification No. 68/2023
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dated March 07, 2024. Herein it has also been indicated that the regulation and monitoring of such imports
will be as per the guidelines of Ministry of Environment, Forest and Climate change issued vide OM no. Q-
18011/54/2018-CPA dated September 10, 2018.
Pursuant to the above and 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 to implement the
allocation for import of CPC and RPC for year 2024-25, as under:
i. The annual quantity limitation in import will be operated on financial year basis i.e. April 01, 2024 till
March 31, 2025. Accordingly, the total quantity permitted for import per annum by is (i) CPC for use in
Aluminium industry is 0.5 Million MTs and (ii) RPC for CPC manufacturing industry is 1.9 Million MTs.
ii. Completed application is required to be submitted online on or before March 24, 2024. All
applications are required to be submitted on the DGFT Website under Services -- > Import
Management System -- > Import Authorisation for Restricted Imports -- > Apply for New Authorisation,
under Import Category as 'Import of Pet Coke'. Applications submitted under any other Category are
liable to be rejected.
iii. Applicants desiring to avail import allocation as mentioned above, shall upload a certificate of their
RPC/CPC Processing capacity duly certified by the SPCB concerned as on the date of the CAQM Order
i.e. February 14, 2024, along with a valid CTO clearly stating the production capacity.
iv. Further, Imports will be subject to relevant Import Policy conditions under Chapter 27 of Schedule-
I (Import Policy), ITC(HS) 2022, as amended from time to time, and guidelines laid down by MOEF&CC
vide OM no. Q-18011/54/2018-CPA dated September 10, 2018 and as amended from time to time. A
duly certified undertaking for para-wise compliance with the stated conditions shall be submitted
along with for consideration of application for import allocation.
v. All applications for import of RPC/CPC will be assessed individually, within the total quantities stated
at para (ii) above. The import quantity for each applicant will be determined on the assistance and
advice of the Exim Facilitation Committee (EFC), in accordance with the procedures under Para 2.48 of
the Handbook of Procedures (HBP) 2023, as amended from time to time.
vi. The Restricted Import Authorisation to be issued shall be valid till March 31, 2025 only. Imports
have to be completed before March 31, 2025 i.e. consignments must be cleared by custom authorities
before this date.
Effect of the Public Notice:
The Procedure for allocation of quantities for import of Calcined Petroleum Coke for use in the Aluminium
Industry; and Raw Petroleum Coke for CPC manufacturing industry for the year 2024-25 is notified.
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For complete Public Notice Click Here
DGFT Introduces Appendix 2Y to FTP 2023, Exempting Certain QCOs for Export Goods Manufacturing
The DGFT vide Public Notice No. 50/2023 dated March 11, 2024, has updated the Foreign Trade Policy (FTP),
2023 by introducing a new Appendix 2Y. This amendment, made in adherence to Notification No. 71/2023
dated March 11, 2024, comes into effect immediately. Appendix 2Y enumerates the Ministries/Departments
whose notifications on mandatory Quality Control Orders (QCOs) are exempted by the DGFT for goods that
are to be utilized or consumed in the manufacturing of export products.
In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy (FTP), 2023, the
Director General of Foreign Trade hereby makes amendment in the list of Ministries/Departments whose
notifications on mandatory QCOs, that are exempted by the DGFT for goods to be utilised/consumed in
manufacture of export products. Accordingly, list of Ministries/Departments is updated in supersession
of Public Notice No. 47/2023 dated March 07, 2024. The updated Appendix 2Y is reproduced herewith :
Appendix -2Y
(Refer Para 2.03(c) of FTP)
The list of Ministries/Departments whose notifications on mandatory QCOs, that are exempted by the
DGFT' for goods to be utilised/consumed in manufacture of export products.
Sl. No Name of Ministry / Department

1 Ministry of Steel
2 Department for Promotion of Industry and Internal Trade (DPIIT)
3 Ministry of Textiles
Effect of this Public Notice:
In pursuance of Notification No. 71/2023 dated 11.03.2024, a new Appendix 2Y under FTP, 2023 has been
created with immediate effect and list of Ministries/Departments whose notifications on mandatory QCOs,
that are exempted by the DGFT for goods to be utilised/consumed in manufacture of export products, have
been updated.
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DGFT Enhances Trade Facilitation with Amendments in Para 4.06 and Para 4.14 of the Handbook of
Procedures 2023
The DGFT issued Public Notice No. 51/2023 dated March 14, 2024, which amends Para 4.06 and Para 4.14 of
the Handbook of Procedures 2023. This amendment aims to streamline and automate the process for the
fixation of norms and notification of new Standard Input-Output Norms (SIONs) under the Advance
Authorisation Scheme, enhancing ease of doing business and facilitating trade.
In exercise of powers conferred under Paragraph 1.03 and 2.04 of the Foreign Trade Policy 2023, as amended
from time to time, the Director General of Foreign Trade hereby makes the following amendments in the
provisions of Para 4.14 and 4.06 of the Handbook of Procedures 2023:
(A) Under Para 4.14 of HBP 2023, new sub-para (iii) is added as mentioned below:
(iii) Ad-hoc Input Output Norms may also be decided in a rule based IT environment without reference
to Norms Committee. However, a certain percentage of cases as flagged by the RMS may be referred
to Norms Committee for validation/review.
(B) A new sub para 4.06 (vii) of HBP 2023 is inserted as below:
4.06 (vii) In cases where ad-hoc norms have already been arrived at by Norms Committee, the Norms
Committee may recommend Notification of SION on a case to case basis.
Effects of this Public Notice: Para 4.06 and Para 4.14 of the Handbook of Procedures 2023 have been amended
to streamline and automate the process of fixation of Norms and Notification of new SIONs under Advance
Authorisation Scheme, for ease of doing business and trade facilitation.
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Income Tax
Income Tax Department to mount e-campaign for Advance Tax e-campaign for F.Y. 2023-24
The Income Tax Department has received certain information on specific financial transactions undertaken
by persons/entities during Financial Year(F.Y.) 2023-24. On the basis of analysis of the taxes paid so far
during the current financial year, the Department has identified such persons/entities where payment of
taxes for F.Y. 2023-24(A.Y. 2024-25) is not commensurate with the financial transactions made by the
persons/entities concerned, during the said period.
Hence, as a part of taxpayer service initiative, the Department is undertaking an e-campaign, which aims to
intimate such persons/entities of significant financial transactions, through email (marked as Advance Tax
e-Campaign-Significant Transactions for A.Y. 2024-25) and SMS, urging them to compute their advance tax
liability correctly and deposit the due advance tax on or before March 15, 2024.
The Income Tax Department receives information of specified financial transactions of taxpayers from various
sources. To increase transparency and to promote voluntary tax compliance, this information is reflected in
the Annual Information Statement (AIS) module and is available to the persons/entities for viewing. The value
of ‘Significant Transactions’ in the AIS has been used for carrying out this analysis.
For viewing the details of significant transactions, the persons/entities can login to their e-filing account (if
already created) and go to the Compliance Portal. On this portal, e-Campaign tab can be accessed to view
significant transactions.
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Persons/entities who are not registered on the e-filing website have to first register themselves on the e-filing
website. For registration, the ‘Register’ button on the e-filing website can be clicked and the relevant details
can be provided therein. After successful registration, the e-filing account can be logged into and the
Compliance portal can be accessed to view significant transactions through the e-Campaign tab.
This is another initiative of the Department towards easing compliance for taxpayers and reinforce its
commitment towards enhancing taxpayer services.
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CBDT Approves IIT Kharagpur, SVNIT Surat, and NFSU Gandhinagar for Scientific Research Benefits (AY
2024-29)
The CBDT issued Notification No. 29 to 31/2024 all dated March 13, 2024 approving the Indian Institute of
Technology, Kharagpur, Sardar Vallabhbhai National Institute of Technology, Surat, and National Forensic
Sciences University, Gandhinagar, under the 'University, college or other institution' category for 'Scientific
Research.' This designation, effective from the assessment years 2024-25 to 2028-29, is in accordance with
section 35(ii) of the Income-tax Act, 1961, and rules 5C and 5E of the Income-tax Rules, 1962.
Govt notifies the Press Trust of India Limited as Special News Agency for Tax Exemption
The CBDT issued Notification No. 32/2024 dated March 15, 2024, designating 'The Press Trust of India
Limited', New Delhi, as a news agency under clause (22B) of section 10 of the Income-tax Act, 1961. This
designation is applicable for the assessment years 2022-2023 and 2023-2024. It specifies that this exemption
is contingent upon the condition that the agency's income is deployed or saved exclusively for the collection
and distribution of news, without distributing any income to its members.
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CBDT Simplifies Business Reorganization ITR Filing Process for Successor Companies
The CBDT issued an Order dated March 13, 2024, under section 119 of the Income-tax Act, 1961 (“the IT Act”),
offering relief to successor companies involved in business reorganizations such as amalgamations, mergers,
or demergers sanctioned by competent authorities including High Courts, Tribunals, or Adjudicating
Authorities as per the Insolvency and Bankruptcy Code, 2016. This relief pertains to orders issued between
June 1, 2016, and April 1, 2022, a period before the applicability of section 170A, introduced by the Finance
Act, 2022, which allows entities to file modified returns post-business reorganization from April 1, 2022.
The Board is in receipt of applications from entities seeking approval to furnish return of income in pursuance
to the business reorganisation i.e. scheme of amalgamation/merger/demerger sanctioned by the order of the
High Court or Tribunal or an Adjudicating Authority, as defined in clause (1) of section (5) of the Insolvency
and Bankruptcy Code, 2016 (hereinafter 'competent authority') issued prior to April 01, 2022. In respect of
such entities (i.e. successor companies), Apex Court in Civil Appeal Nos.9496-99 of 2019 (arising out of SLP (C)
Nos. 19678-681 of 2019) has held that the Return of Income filed by the successor companies, after taking
into account the Scheme of Arrangement and Amalgamation as sanctioned by the NCLT be received. National
Company Law Tribunal (NCLT) has been constituted by the Central Government u/s 408 of the Companies Act,
2013 w.e.f. June 01, 2016.
Section 170A of the Income-tax Act, 1961 (the Act), inserted vide the Finance Act, 2022 with effect from April
01, 2022, provides that the entities going through such business reorganization may furnish modified return
of income for any assessment year to which such order of business reorganisation is applicable, within six
months from the end of the month of issuance of order of competent authority. The Board vide its order u/s
119 dated September 26, 2022 allowed successor companies in cases where the order of business
reorganisation of the competent authority was issued between the period April 01, 2022 to September 30,
2022, to furnish modified returns under section 170A of the Act till March 31, 2023. The entities, whose
scheme of business reorganisation has been sanctioned by the competent authority vide orders dated prior
to April 01, 2022 are, therefore, outside the purview of section 170A of the Act. Consequently, these entities
could not file modified return of income u/s 170A of the Act.
On consideration of difficulties being faced by such entities in electronic filing of return of income pursuant to
order of the competent authority issued after June 01, 2016 but prior to April 01, 2022 ('order') and to mitigate
their genuine hardship, the Board, hereby allows the successor companies to furnish the return with modified
particulars ("return') for the relevant assessment year(s) in accordance with and limited to the said order by
using functionality on e- filing portal "u/s 119(2)(b) after condonation of delay / Court Order or Sanction Order
of Business reorganisation of the Competent authority issued prior to April 01, 2022".
As all such cases would entail verification as to whether the return is resulting from and limited to the said
order, the taxpayer shall first communicate to the Jurisdictional Assessing Officer (JAO) as per the proforma
annexed herewith, requesting for enablement of electronic filing of the return for relevant assessment year(s)
on the e-filing portal as per the following timeline:
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A2Z TAXCORP LLP
Step Action Time-Line

First Communication by the taxpayer to the Jurisdictional Assessing Officer Up to April 30, 2024.
(JAO) as per the proforma, for enablement of electronic filing of the
return. (A)
Second Completion of verification by the JAO as to whether the return is Preferably, within 30
resulting from and limited to the order of the competent authority & days of the receipt of (A).
enablement through ITBA, information about which will be received
by taxpayer on its e-filing portal.
Third Electronic filing of the return for relevant assessment year(s) on the e- Up to June 30, 2024.
filing portal by the taxpayer.
It is clarified that henceforth no separate application u/s 119(2)(b) of the Act is required to be filed before
the Board by the successor companies in cases where the order of business reorganisation of the competent
authority was issued after June 01, 2016 but prior to April 01, 2022.
This order shall come into force with immediate effect.
For complete Order Click Here
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A2Z TAXCORP LLP
Income Tax Department to Update AIS After Identifying Data Inconsistencies in Market Securities Report
The Income Tax Department issued an Update on March 11, 2024, stating that, based on feedback from
taxpayers on the e-campaign for Advance Tax, the Department has identified certain inconsistencies in the
data of the securities market (SFT-17) provided by one of the Reporting Entities. The reporting entity has been
asked to submit a revised statement based on updated information.
Hence, the data on AIS will be updated. Taxpayers are advised to wait for further updates on AIS based on the
revised statement.
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A2Z TAXCORP LLP
News Flash
Ghaziabad Restaurant Fined for Illegally Imposing Delhi court sentences woman to 6 months jail for not
Extra Service Charge on Doon Resident filing Income tax return (ITR) on income of Rs 2 Crores
For complete news Click Here For complete news Click Here
CBIC Plans Reclassification Drive in FMCG Sector for Centre Announces 50% GST Relief to central police
GST Clarity to Prevent Litigation canteens; Ex-Paramilitary Association
HC Rejects Bail for Businessman in ₹1,033 Crore GST Centre considering amendments to MSME
Evasion, Underlines Serious Economic Crime Development Act to ensure timely payments to small
businesses
For complete news Click Here
For complete news Click Here
Karnataka’s GST collection increased due to Insurance Companies to File Petition Against ₹12,000
guarantee schemes: CM Siddaramaiah Crore GST Demand on Co-Insurance, Seeking Clarity
Tax board asks GST probe wing to follow bottom-up Defaulters to pay reconnection charges and 18% GST
approach, not summon CEOs/CFOs at first instance with arrears: MSEDCL
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A2Z TAXCORP LLP
Maharashtra, Karnataka, Uttar Pradesh, Odisha and IIT-Hyderabad to support Telangana Commercial Taxes
Tamil Nadu lead in GST cess collections officials in the investigation into GST returns scam
Dr Reddy’s gets Rs 74.22 crore tax demand with Sambalpur restaurant ordered to cough up Rs 30,000
penalty from GST authority for charging GST on Rs 20 mineral water bottle
Municipal Administration Minister P Narayana’s Son- Supreme Court 9-Judge Bench Reserves Judgment on
in-law Receives Relief from Andhra Pradesh HC in GST Mining Royalties and States’ Powers in Key Mineral
Evasion Case Rights Taxation Case
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A2Z TAXCORP LLP
Abbreviations
1. GST Goods and Services Tax
2. CGST Central Goods and Services Tax
3. IGST Integrated Goods and Services Tax
4. CGST Act Central Goods and Services Tax Act, 2017
5. CGST Rules Central Goods and Services Tax Rules, 2017
6. IGST Act Integrated Goods and Services Tax Act, 2017
7. IGST Rules Integrated Goods and Services Tax Rules, 2017
8. ITC Input Tax Credit
9. RCM Reverse Charge Mechanism
10. Customs Act Customs Act, 1956
11. IT Act Income Tax Act, 1961
12. IT Rules Income Tax Rules, 1962
13. CBIC Central Board of Indirect Taxes
14. CBDT Central Board of Direct Taxes
Page 58
A2Z TAXCORP LLP
About us:
A2Z Taxcorp LLP is a boutique Indirect Tax firm having its offices at New Delhi and Guwahati specializing in GST, Central
Excise, Custom, Service Tax, VAT, DGFT, Foreign Trade Policy, SEZ, EOU, Export – Import Laws, Free Trade Policy, etc. It
is a professionally managed firm having a team of experienced and distinguished Chartered Accountants, Company
Secretary, Lawyers, Corporate Financial Advisors and Tax consultants to provide various services like litigation and
representation, transaction advisory, diagnostic reviews/ health checks, audit defense & protection, retainership &
compliance, configuration of tax efficient business model etc. Its clientele consists mainly of Foreign MNC, large/mid-
sized Indian companies which includes exporters, FMCG, consumer durables, automobiles, aerated beverages, ceramic
tiles, real-estate, hospitality, etc.
Thanks & Best Regards, Our Address:

A2Z TAXCORP LLP
Bimal Jain
FCA, FCS, LLB, B. Com (Hons)
Author of a book on Goods and Services Tax, titled, “GST Flat No. 34B,
Law and Commentary (with Analyses and Procedures)” Ground Floor, Pocket – 1,
Mayur Vihar Phase – 1
[8th Edition]
Delhi – 110091 (India)
Email: bimaljain@a2ztaxcorp.com Tel: +91 11 42427056
Connect With Us: Web: www.a2ztaxcorp.com
2C, 2nd Floor, City Trade Centre,

A.T. Road, Guwahati – 781001
Email: info@a2ztaxcorp.com
DISCLAIMER: The views expressed are strictly of the author and A2Z Taxcorp LLP. The contents of this weekly
newsletter are solely for informational purpose. It does not constitute professional advice or recommendation of
firm. Neither the author nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising
out of any information in this weekly newsletter nor for any actions taken in reliance thereon.
Page 59

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Tax and Law Practitioners

Weekly GST Communique

𝗪𝗵𝗮𝘁'𝘀 𝗔𝘀𝗸𝗕𝗶𝗺𝗮𝗹𝗚𝗦𝗧? 𝗪𝗵𝗼 𝗰𝗮𝗻 𝗯𝗲 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝗲𝗱?

Important Judgments, Rulings of the week

Important Notifications, Circulars of the week

Important Press Releases of the week

For complete case summary Click Here

For complete case summary Click Here

For complete case summary Click Here

For complete case summary Click Here

For complete case summary Click Here

For complete case summary Click Here

For complete case summary Click Here

Section 16(2)(c) of the CGST Act constitutionally challenged

For complete case summary Click Here

For complete ruling summary Click Here

[This space has been intentionally left blank]

Important Notifications, Circulars of the week

This circular shall come into force at once.

For complete Circular Click Here

For complete Notification Click Here

[This space has been intentionally left blank]

Important Press Releases of the week

For complete Press Release Click Here

For complete Press Release Click Here

The policy entails the following: -

• Minimum Investment required: Rs 4150 Cr (∼USD 500 Mn)

• No limit on maximum Investment

For complete Press Release Click Here

Table 1: Trade during February 2024*

February 2024 (USD Billion) February 2023 (USD Billion)

Fig 1: Overall Trade during February 2024*

For complete Press Release Click Here

Memorandum of Understanding (MoU) signing between DGFT and DHL

For complete Press Release Click Here

India-EFTA Trade and Economic Partnership Agreement; Key highlights

The highlights of the agreement are:

• Fosters transparency, efficiency, simplification, harmonization and consistency of trade procedures

For complete Press Release Click Here

[This space has been intentionally left blank]

Important Updates of the week

Here is the List of UTs:

Assam Delhi Goa

Rest of India and Banks to be covered soon.

To Know More Click Here

1. 14(a) Liable to collect tax u/s 52(TCS)

2. 14(b) Liable to pay tax u/s 9(5)

Table 15A – Amended Supplies u/s 9(5) in GSTR-1/IFF

1. Registered Supplier and Registered Recipient (B2B)

2. Registered Supplier and Unregistered Recipient (B2C)

3. Unregistered Supplier and Registered Recipient (URP2B)

4. Unregistered Supplier and Unregistered Recipient (URP2C)

Other Salient features: -

Impact of new tables of ECO-Documents in GSTR-2B

To Know More Click Here

ICAI Releases Handbook on Compliances of GST in Banking Sector

To Know More Click Here