The Central Board of Indirect Taxes and Customs vide its notification dated 30th September 2020 has decided that the mandatory compliance requirements for submissions of declarations and manifests under the regulations shall be applied in full with effect from 1st April, 2021.
Considering the disruptions caused due to Covid-19 Pandemic and non-readiness of the stakeholders, the transitional provisions under Regulation 15(2) have been extended from 1st October, 2020 till 31st March, 2021 to enable submission of manifests under erstwhile regulations.
The amount of bond and bank guarantee or postal security or National Savings Certificate or fixed deposit, as required under Regulation 3(1A) has been reduced to Rs 5,00,000 /- from Rs 10,00,000 /-
In addition to Authorised Economic Operators (AEOs), ‘Customs Brokers’ who are already licensed under the Customs Brokers Licensing Regulations, 2018, who are authorised to issue delivery orders, are also exempted from the requirement to furnish a fresh bank guarantee or postal security or National Savings Certificate or fixed deposit , under proviso to Regulation 3(1A) of the SCMTR.
Further, the registration of different stakeholders stipulated in regulation (1) of the SCMTR is a completely automated process through ICEGATE Portal. Board urges all the stakeholders to immediately register on ICEGATE and apply from within their ICEGATE login to operate under the new SCMTR.
To uniquely identify the cargo and simplify the filing process, a system of CIN is introduced in Customs Automated system. CIN is a unique identification number assigned by Customs System to every cargo declared.
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