Customs (Waiver of Interest) Third Order, 2023

The CBIC is waiving the interest payable for the period from 14th April, 2023 till the date of removal of such system inability and thereafter up to three days (including holidays), in respect of such …

Special Additional Excise Duty on production of Petroleum Crude Increased

According to the present circular, SAED of petroleum crude has been increased to Rs. 6,400 per tonne.

Customs (Waiver of Interest) Second Order, 2023

CBIC has waived the whole of interest payable under sub-section (2) of section 47 of the said Act, for the period from 11th April, 2023 up to and including the 13thApril, 2023. This waiver is …

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 …

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 …

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 …

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 …

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 …

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. …

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