Category: Custom

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 …

Read More "Customs (Waiver of Interest) Third Order, 2023"

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

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 …

Read More "Customs (Waiver of Interest) Second Order, 2023"

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 …

Read More "Update in AEO application processing for AEO-T2 and T3 on the web-based"

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 …

Read More "Customs (Waiver of Interest) Order, 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.

Central Board of Indirect Taxes has exempted materials imported into India against an Advance Authorization under FTP policy 2023 from customs duty.

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 …

Read More "Revised Custom Duty Exemptions in Excess of Standard Rates"

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.

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 …

Read More "CBIC issues notice of Extension of requirement of Health Certificate for Imported Food Consignments"

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 …

Read More "CBIC amends its Circular on Centralised Antecedent Verification of warehouse licence applicants"

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. …

Read More "CBIC amends its Circular to include details of Ex-bond Bill of Entry or Shipping Bill in Form A"