Customs Authority for Advance Ruling

Customs Authority for Advance Ruling¬† We discussed and finalized the simplification of the customs procedure in the Kyoto Convention of WCO. They were adopted in June 1999 ¬†as a blueprint for modern and efficient customs procedures. Article 3 of the…

Revised Guidelines of Bonded Manufacturing Scheme

Revised Guidelines of Bonded Manufacturing Scheme The Central Board of Indirect Taxes and Customs (CBIC) has notified the Revised Guidelines of Bonded Manufacturing Scheme, which applies to the units under Section 65 of the Customs Act, 1962. This new guideline…

The Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020

The Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 Recently, the Ministry of Finance introduced the Customs (Administration of Rules of Origin under Trade Agreements) Rules 2020. The rules shall come into force from 21st September 2020.…

Electronic transmission of shipping bill under Customs

Electronic transmission of shipping bill under Customs To achieve Faceless, Contactless, and Paperless Customs, the Central Board of Indirect Taxes and Customs, vide circular dated 22nd June 2020, has introduced the facility of electronic transmission of Final Let Export Order…

Customs Duty

Customs Duty Goods are imported in or exported from India through sea, air or land. Goods may even come through post parcel or as baggage when passengers travel in and out of the country. The Customs Act was formulated in…

Amendment In Merchant Overtime Fee

Amendment In Merchant Overtime Fee Section 36 of the Customs Act, 1962 levies restrictions on the unloading and loading goods on holidays or any other day after working hours. Further, the said section provides that the limitation so levied can…

Authorized Economic Operator

Authorized Economic Operator The World Customs Organization in June, 2005, with a view to secure the international supply chain, has adopted the SAFE framework of Standards. Authorized Economic Operator (AEO) is one of the three pillars on which the SAFE…