Friday 19 April 2013

Annual Supplement (2013-14) to the Foreign Trade Policy 2009-14

Annual Supplement (2013-14) to the Foreign Trade Policy 2009-14 announced by Union Commerce and Industry Minister Mr. Anand Sharma, on 18th April, 2013:


  • Measures to revive investors’ interest in SEZs
  • Zero Duty Export Promotion Capital Goods (EPCG) Scheme to cover all sectors
  • Widening of Interest Subvention Scheme
  • Widening the Scope of Utilization of Duty Credit Scrip
  • Market and Product Diversification
  • Incremental Exports Incentivisation Scheme extended for the year 2013-14
  • Facility to close cases of default in Export Obligation
  • Served from India Scheme (SFIS), duty credit scrips shall now be calculated on the basis of net free foreign exchange earned
  • VKGUY (Vishesh Krishi Gramin Udyog Yojana) Scheme has been amended
  • Status Holder Incentive Scheme (SHIS) not available for the year 2013-14
  • Utilization of recredited 4% SAD scrips shall be allowed upto 30.09.13
  • Duty free Import Authorization Scheme (DFIA) Amended Import of Cars/ Vehicles allowed at CAD Faridabad and Ennore Port (TN)
  • Improvement in quality and timeliness of Foreign Trade Data
  • Electronic Data Interchange Initiatives
  • Ease of Documentation and procedural simplification
  • Widening of items eligible for import for Handloom/ Made ups and Sports Goods


Friday 12 April 2013

Service Tax return filing date extended

ST-3 Return filing date once again extended, order no.02/2013-Service Tax, dated 12th April, 2013.
The date of submission of the  Form ST-3  for the period from 1st July 2012 to 30th September 2012, has been extended from 15th April, 2013 to  30th  April, 2013.

Service Tax Rules Amended

Service Tax Rules have been amended, the rules may be called the Service Tax (Second Amendment) Rules, 2013. They shall come into force on and from the 1st day of June, 2013. The amendment is with respect to Form No. S.T.-5, S.T.-6 and S.T.-7.