News Update

GST - Govt notifies fresh tax rates for GTA + renting of motor cab + jobwork of printing of newspapers & journals + composite supply of works contract to Govt agencies + exempts services provided by and to FIFA + services by Fair Price Shop + Crop Insurance Schemes + LLP to be construed as Partnership firm + services of plumbing & house-keeping through e-commerce platforms liable to registrationNITI Aayog To Launch 'Mentor India' CampaignFM reviews macro economic stability of economyMoS, PMO calls for 'Make in India' health moduleI-T - Whether Explanation to Sec 37(1) gets attracted even if there is no specific material to suggest participation of assessee in alleged kickbacks - NO: HCTreading the GST Path XXX What is "cab"?Apex Court rules Triple Talaq is unconstitutionalTrump warns Pakistan against providing shelter to terror groupsITC claim on Railway Receipt in lieu of Tax InvoiceComposite and mixed supply under GST - Golmaal ReturnsHM launches Digital Police Portal; FIRs can now be filed online in 34 States & UTsI-T - Contributions to provident fund not recognized as valid deduction u/s 80C(2)(vi), is deemed as short-deductions u/s 192 and hence taxable as 'Income from other sources' : ITATIndia's exclusive rights to explore polymetallic nodules from seabed extendedCX - Being busy with procedural requirement under GST is no ground to grant adjournment: CESTATChennai Airport Customs seizes gold worth Rs 4.6 Crore; One person arrestedGovt appoints CISF ADG Dharmendra Kumar as DG of Railway Protection ForceGlobal Forum releases compliance ratings for 10 tax jurisdictions (See 'Brief' in 'TII')PM for soil testing by hand-held devices; calls for involving startupsST - Warehouses are specifically covered under term Railways and they need not necessarily belong to railways - no tax liability on construction of warehouse for CWC in railway premises: CESTATTourism earns about Rs 15000 Cr in July monthPM congratulates OPS being sworn as TN Dy CM; to be Finance Minister alsoI-T - Whether even if assessee returns no exempt income in a particular AY, disallowance of certain expenditure incurred to earn such exempt income is warranted u/s 14 rw Rule 8D - NO: HCImport policy of Urad / Moong dal is revised from 'free' to ‘restricted’CX - When Tribunal decides that goods are exempted under notf. 50/2003, it would have direct impact on rate of duty, therefore, appeal would lie before SC: HCI-T - Remuneration paid to Artist for loss of business occasioned by virtue of non-compete agreement, is revenue receipt, if she is allowed to work elsewhere subject to payment of 5% of her earnings: HCPower Minister calls for 3Ds approach - De-carbonisation, decentralisation & digitalisationMAT Report - CBDT notifies New Form 29B with exhaustive AnnexureWhether the Government has allowed Tax payable under reverse charge to be paid through ITC? (See 'TOG Insight' in Taxongo.com)Domestic Airlines carried 657 lakhs pax between Jan to July, 2017 - A growth of 17% in trafficInter-state supply-who is liable to pay IGST?Rosneft, Russian energy giant, wraps up deal to buy 49% stake in Essar OilStreet Lighting Scheme illuminates 50,000 km of roadsI-T - Whether if a conditional grant comes from abroad, a foreign country is to be construed as a person or authority as per Explanation 10 to Section 43(1) - NO: ITAT

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION (ii)]

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

NOTIFICATION NO

80/2017-CUSTOMS (N.T.), Dated: August 17, 2017

In exercise of the powers conferred by the first proviso to sub-section (2) of section 47 of the Customs Act, 1962 (52 of 1962) and in supersession of the Notification of the Government of India, Ministry of Finance, Department of Revenue, No.83/2012-Customs (NT) dated the 17th September, 2012, published in the Gazette of India. Extraordinary, Part II, Section 3, Sub-section (ii) vide number S.O.2186 (E), dated 17th September, 2012, the Central Government, except as respects things done or omitted to be done before such supersession, being satisfied that it is necessary in the public interest so to do, hereby specify the classes of importers who shall pay customs duty electronically, namely:-

(i) importers registered under Authorised Economic Operator Programme; and

(ii) importers paying customs duty of ten thousand rupees or more per bill of entry.

2. This notification shall come into force with effect from the 1st day of September, 2017.

[F.No. 450/117/2017-Cus.IV]

(Z R Kamili)
Director (Customs)

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION (ii)]

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

NOTIFICATION NO

81/2017-CUSTOMS (N.T.), Dated: August 17, 2017

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.75/2017 -CUSTOMS (N.T.), dated 3rd August, 2017, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 18th August, 2017, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

SCHEDULE-I

Sl.No.
Foreign Currency
Rate of exchange of one unit of foreign currency equivalent to Indian rupees
(1)
(2)
(3)
(a)
(b)
(For Imported Goods)
(For Export Goods)
1. Australian Dollar
51.30
49.50
2. Bahrain Dinar
176.45
164.80
3. Canadian Dollar
51.20
49.55
4. Chinese Yuan
9.80
9.45
5. Danish Kroner
10.35
9.95
6. EURO
76.70
74.10
7. Hong Kong Dollar
8.35
8.10
8. Kuwait Dinar
220.35
205.80
9. New Zealand Dollar
47.40
45.70
10. Norwegian Kroner
8.25
7.95
11. Pound Sterling
84.20
81.35
12. Qatari Riyal
18.10
17.10
13. Saudi Arabian Riyal
17.70
16.60
14. Singapore Dollar
47.80
46.25
15. South African Rand
5.00
4.65
16. Swedish Kroner
8.10
7.80
17. Swiss Franc
67.30
64.90
18. UAE Dirham
18.10
16.95
19. US Dollar
65.15
63.45

SCHEDULE - II

Sl.No.
Foreign Currency
Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
(1)
(2)
(3)
(a)
(b)
    (For Imported Goods) (For Export Goods)
1. Japanese Yen
59.10
57.10
2. Kenya Shilling
64.10
59.90

[F.No.468/01/2017-Cus.V]

(B Konthoujam)
Under Secretary to the Govt. of India