Customs instructs officers not to penalise importers for technical delays during filing of Bill of Entry
The Dollar Business Bureau The Customs department takes cognizance of the technical difficulties faced by importers during filing of Bill of Entry and orders that payment of late charges should not be levied by the concerned customs officer subject to sufficient cause of the delay. In its latest notification dated August 31, 2017, vide Customs instruction no: 12/2017, the department takes notice of the challenges faced by importers during filing of Bill of Entry. “Many a time, importers have not been able to file Bill of Entry for clearance of imported goods within stipulated time period because of certain technical problems related to ICEGATE connectivity, server etc. It Is also brought to notice of the Board that there are instances when, even after ...
IGST on High Sea Sales taxed only during importation, GST Council
The Dollar Business Bureau The CBEC has issued a clarification regarding double taxation of IGST on High Sea Sales of imported goods. It had come to the notice of the Customs Board for a clarification whether High Sea Sales of imported goods would be charged IGST twice - under sub-section (7) of section 3 of Customs Tariff Act, 1975 and also separately under Section 5 of The Integrated Goods and Services Tax Act, 2017. The Board issued a clarification on the same vide Customs circular no- 33/2017 dated August 1, 2017. ‘High Sea Sales’ is a common trade practice whereby the original importer sells the goods to a third person before the goods are entered for customs clearance. After the High sea sale ...
CBEC allows manual bill of entry at electronic data ports in exceptional cases
The Dollar Business Bureau According to the recent notification NO.06/2017-Customs Dated 2nd June, 2017, the CBEC has allowed for a manual bill of entry in Electronic Data Interchange (EDI) locations only in exceptional and genuine cases where permitted by the Principal Commissioner/Commissioner of Customs strictly in accordance with the legal provisions. For bringing in better accountability, efficiency and transparency as recommended by PAC, it is imperative to keep track of all manually filed bills of entry. Further, the registered manual bills of entry will be linked to a system generated challan for enabling electronic payment of Customs duty in the e-payment portal ICEGATE. This is in line with the Government of India's intensive promotion of digital payment. Accordingly, a procedure has been ...
Govt extends deadline for duty free sugar import till June 30
The Dollar Business BureauThe government on Thursday extended the deadline for duty-free import of 5 lakh MT of raw sugar till June 30, 2017, from the current timeline of June 12.“TRQ (tariff rate quota) benefit (duty-free) shall be available up to and inclusive of June 30, 2017, as per Section 15 of the Customs Act, 1962,” DGFT said in a Notification No.02/2015-2020 dated April 13.Earlier, the government has allowed import of 5 lakh MT of raw sugar (under Exim Code 170114) to be imported by millers/refiners duty-free to boost domestic supply as the production is likely to decline to 20 million tonnes in the current marketing year of 2016-17 from 25 million tonnes a year ago.In order to further facilitate ...
CBEC amends Bill of Entry norms to prescribe late charges
The Dollar Business Bureau The Central Board of Excise and Customs has amended the Bill of Entry (Electronic Integrated Declaration) Regulations and Bill of Entry (Forms) Regulations – a part of the Customs Act, 1962 - to prescribe late charges for delayed filing. The amendments have been made to prescribe a late charge for delayed filing of Bill of Entry. After the amendment, the importer will be required to present the bill of entry before the end of the next day after the aircraft or vessel or vehicle carrying the goods has arrived at a customs station at which such goods are to be cleared for home consumption or for warehousing. The free period for filing a bill of entry is till the ...
