Quick Summary
Directorate General of Systems and Data Management under the Central Board of Indirect Taxes and Customs (CBIC) has released Advisory No: 01/2024 on January 16, 2024. This advisory addresses the crucial aspect of updating system in response to changes introduced in the Budget 2024-25. Officia
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FAQ :
The advisory addresses the crucial aspect of updating the ICES system in response to changes introduced in the Budget 2024-25.
The Union Budget 2024-25 is expected to be presented in Parliament on February 1, 2024.
No, filing of Bills of Entry will not be available from 11:00 AM on February 1, 2024, until the system updates are completed.
Shipping Bill filing and assessment will continue as usual.
The updation is generally carried out within 48 hours, provided no substantial new levies are notified in the Budget.
Respective sites should track Let Export Orders for Shipping Bills given after February 1st until directory changes are made online, and collect export duty or cess manually in the interim.
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