Category: Custom

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"

The Central Board of Indirect Taxes and Customs has determined the rate of exchange of conversion of each of the foreign currencies into Indian currency or vice versa. The notified rates of exchange shall will …

Read More "CBIC determines rate of exchange of conversion of the foreign currencies relating to imported and exported goods"

The new five year Foreign Trade Policy, 2015-20 provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in keeping with the …

Read More "Ministry of Commerce & Industry extends the Foreign Trade policy for six months."

This policy paves way for reduction in logistics cost in the country. Focus will be on enabling adequate development of warehouses with optimal spatial planning, promotion of standards, digitization and automation across the logistics value …

Read More "Union cabinet approves National Logistics Policy."

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 …

Read More "The Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022."

The service of notices or documents required to be served on the parties to the application or petition and in the case of a Principal Commissioner or Commissioner may be served as per the provisions …

Read More "The Customs Authority for Advance Rulings (Amendment) Regulations, 2022."

These guidelines will pave the way for resolution of the cases under arbitration. The port asset is likely to be put to use through re-bidding. This will definitely result in unlocking the blocked cargo handling …

Read More "Ministry of Ports issues guidelines for reviving stressed projects."

At present, there is a 5% basic customs duty (BCD) on cotton imports and 5% Agriculture Infrastructure and Development Cess (AIDC) on raw cotton. Since the industries has been demanding waiver of duty to lower …

Read More "Ministry of Finance exempts all customs duty on Cotton imports till 30th September 2022."

The electronic cash ledger shall be maintained in FORM ECL-1 on the common portal for each person in regard to every deposit made towards duty, interest, penalty, fee or any other sum payable by the …

Read More "The Customs (Electronic Cash Ledger) Regulations, 2022."