The Ministry of Finance on 9th September 2022, published the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 which shall apply to importer intends to avail the benefit of any notification and such benefit is dependent upon the use of the goods imported being covered by that notification for the manufacture of any commodity or provision of output service or being put to specified end use.
Under this rule, the importer shall provide one-time prior information on the common portal, in Form IGCR-1 containing the following particulars, namely: —
- the name and address of the importer and his job worker, if any;
- the goods produced or process undertaken at the manufacturing facility of the importer or his job worker, if any, or both;
- the nature and description of goods imported used in the manufacture of goods at the premises of the importer or the job worker, if any;
- particulars of the notification applicable on such import; v. nature of output service rendered utilising the goods imported;
- particulars of premises intended to be used in case of unit transfer;
- details of the end use recipient in cases where goods imported are supplied for specified end use;
On acceptance of the information, an Import of Goods at Concessional Rate of Duty (IGCR) Identification Number (IIN) shall be generated against such information: Provided that such information may be updated on the common portal in case of a change in the details furnished in Form IGCR-1.
Where a Bill of Entry is cleared for home consumption, the bond submitted by the importer gets debited automatically in the customs automated system and the details shall be made available electronically to the jurisdictional Customs Officer.
The importer shall submit a monthly statement on the common portal in the Form IGCR-3 by the tenth day of the following month; Provided that the importer may submit details of goods consumed in the Form IGCR-3A at any point of time, for immediate recredit of the bond which shall become a part of the monthly statement of the subsequent month.
