Department of revenue amends standard rate of customs duty
The duty rate of item covered under S. No. 515B of the table in notification dated the 30th June, 2017 is altered to “5%” in public interest.
CBIC notifies the procedure for Inspection of ICDs/CFSs/ AFSs.
The first inspection shall be completed by December 31, 2020 and after the inspection, remedial actions shall be taken for the deficiencies, wherever required.
CBIC allows the facility of Auto Let Export Order under the Express Cargo Clearance System.
The RMS either facilitates or interdicts a Courier Shipping Bill (CSB) as per risk and the goods that are being exported through the RMS system by way of x-ray scanning, shall be automatically given Let Export Order by the ECCS.
CBIC extends the Rebate of State and Central Taxes and Levies scheme from 30th march 2020 to 30th March 2021.
The export of goods under the RoSCTL scheme where the order permitting clearance and loading of goods for exportation has been made on or after the 7th March 2019 and till 31st March 2021 or until such date the RoSCTL scheme is merged with the Remission of Duties and Taxes on Exported Products scheme, whichever is earlier.
The Central Government amends exemptions of duty credit scrip on exports under RoSCTL
The Central Government has extended the benefits available under customs duty exemption against Scrips issued by the Regional Authority under the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) Scheme. Prior to this amendment, the benefit of the exemption under the specified condition was available only till 31st March, 2020. This has now been extended to 31st March 2021 or until the RoSCTL scheme is merged with the Remission of Duties and Taxes on Exported Products scheme.
CBIC amends Customs Circular on Guidelines for Provisional Assessment of Duty
The Circular, inter alia, states that Authorised Economic Operator (AEO)- T3 are required to furnish 0% of differential duty as security for provisional assessment. This includes cases referred to Special Valuation Branch (SVB), those cases randomly selected for verification and where the importer is unable to make self-assessment and has sought provisional assessment. Furthermore, all class of importers, including AEOs, are required to furnish 100% of differential duty as security if provisional assessment is requested by the importer when an inquiry or verification is initiated under CAROTAR, 2020
CBIC notifies dates for relaxation of deadlines under certain Indirect Tax Laws
According to the present notification, 30th December 2020 shall be the last date for completion or compliance of the actions under the Customs Act, 1962, the Customs Tariffs Act, 1975 or Chapter V of the Finance Act, 1994. Moreover, where such completion or compliance of the actions is not undertaken by the 30th of December 2020, then an extended date of 31st December 2020 is provided for its completion or compliance.
FSSAI requires specified imported food products to be accompanied by Non-GM Origin cum GM Free Certificate
The Order includes a comprehensive list of imported food products such as apples, beans, rice, wheat, soybean, etc. These imported food products are required to be accompanied by a Non-GM Origin cum GM Free Certificate. This certificate must be issued by the competent National Authority of the exporting country. The Order also prescribes the format of the certificate which is required to contain details such as the names and addresses of exporters, manufacturers, consignees, quantity of products, etc. The Order will come into effect from the 1st January 2021.
CBIC omits Rule 4 of the Deferred Payment of Import Duty Rules, 2016
The erstwhile Rule 4 dealt with rendering information about intent to avail benefit of deferred payment facility. It stipulated that if an importer sought to obtain an order of clearance from the Customs Authorities for home consumption of imported goods and he wished to make deferred payment of the import duty, he was required to convey this to the Authorities. However, by virtue of the Deferred Payment of Import Duty (Amendment) Rules, 2020, this Rule has been done away with.
The Special Warehouse (Custody and Handling of Goods) Amendment Regulations, 2020.
The manufacture and other operations in relation to goods in a warehouse are not applicable under the Special Warehouse (Custody and Handling of Goods) Amendment Regulations, 2020.
