Update in AEO application processing for AEO-T2 and T3 on the web-based
The new version (V 3.0) of the web application is designed to ensure continuous, real-time, and digital monitoring of the physically filed AEO-LO applications for timely intervention and expedience. From 1st May, 2023, it will be mandatory for AEO-LO applicants to register on the portal for AEO certification.
Customs (Waiver of Interest) Order, 2023
CBIC has waived the whole of interest payable on failure to pay import duty within the specified time in terms of sub-section (2) of section 47 of the Customs Act, 1962. This waiver will apply for the period from 1st April, 2023 up to and including the 10th April, 2023.
Punjab Liquor License (Second Amendment) Rules, 2023
The rules revise the amount of fixed annual license fee and security in respect of different kinds of licenses. They also introduce a special license fee on Punjab Medium Liquor, Indian Made Foreign Liquor and Imported Foreign Liquor.
Central Government appoints enforcement dates for specified provision of Finance Act, 2023
The Central Government appoints the 31st day of March, 2023, as the date on which the amendments in the Second and Third Schedule of the Customs Tariff Act shall come into force.
CBIC allows duty free import under Advance Authorization
Central Board of Indirect Taxes has exempted materials imported into India against an Advance Authorization under FTP policy 2023 from customs duty.
Revised Custom Duty Exemptions in Excess of Standard Rates
The notification also extends the exemption to a new category of goods, ‘Drugs, Medicines or Food for Special Medical Purposes (FSMP) used for treatment of rare diseases specified in List 38.’ The notification substitutes the terms “drugs or medicines” with “Drugs, Medicines or Food for Special Medical Purposes (FSMP)”.
Ministry of Finance amends exemption granted to certain goods from Custom Duty
Ministry of Finance has amended the duration of the exemption granted to certain goods from custom duty. These goods include crude soyabean oil, whether or not degummed and crude sunflower seed oil.
CBIC issues notice of Extension of requirement of Health Certificate for Imported Food Consignments
he CBIC has drawn attention to the FSSAI order dated 3rd August, 2022 that required an FBO importing Milk & Milk products, Fish & Fish products, and Pork & Pork Products to obtain a Health Certificate. The CBIC has also stated that by an order dated 24th February, 2023, FSSAI has deferred the implementation of this requirement until further orders.
CBIC amends its Circular on Centralised Antecedent Verification of warehouse licence applicants
The CBIC has noted that the cases of centralised system of antecedent verification are facing unreasonable delays in certain field formations. Hence, it has inserted a clause in it Circular stipulating that “…antecedent verification must be completed within 45 days from the receipt of the application.”
CBIC amends its Circular to include details of Ex-bond Bill of Entry or Shipping Bill in Form A
CBIC by its previous circular had issued ‘Form A’ for capturing details relating to receipts, handling, storage and removal of warehoused goods. Form A has been amended by inserting a new column, i.e. Column No. 25A titled ‘Ex-bond Bill of Entry No. and dare/ Shipping Bill No. and date’
