Corporate Updates – 11-07-2016


Department of Trade & Taxes has prepared the description of goods/items as per DVAT schedules as well as the goods/items which are largely traded in Delhi but are not covered by any of the schedules for the purpose of filing forms DVAT-30, DVAT-31 and DVAT return Form 16. Earlier the department had notified rules for furnishing description of goods/items along with their item code in forms DVAT-30, DVAT-31 and DVAT return Form 16 and its annexures. As per the provisions of the earlier stated notification, all registered dealers of Delhi are mandatorily required to file their returns as per the above list for tax period commencing from 1st April, 2016 and all subsequent tax periods.


CBEC vide Circular dated July 06, 2016 notified that Duty Free Shops (DFSs) at airports shall display prices of goods in Indian currency as well as the exchange rate. CBEC had received representations from travellers that DFSs neither display prices in rupees or India made goods, which depreciates the visibility of domestically manufactured products and domestic currency. In line with a RBI notification, the CBEC notified that passengers will be permitted to purchase goods at DFSs in Indian rupees up to Rs 25,000. Further, information relating to the use of rupee at DFSs should be displayed at all DFSs. Further, DFSs shall display the rate of exchange as published by the commercial banks for conversion of foreign currency or the rate of exchange notified by the CBEC on a fortnightly basis for import and export of goods. Further, websites of DFS/Airports must be kept accurately updated with regard to the facility and limit in use of Indian currency for making purchases.

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