Quick Summary
The Central Board of Indirect Taxes and Customs, via their official Twitter handle, has clarified that the Advance Rulings has started functioning at Delhi & Mumbai from 4th January 2021. Read the official Tweet below:
The Customs Authority for Advance Rulings has started functioning at Delhi & Mumbai from 4/1/2021. This would help importers/exporters/investors to have certainty in regard to matters of classification, exemption notification, principles of valuation, etc of import/export goods.
The Customs Authority for Advance Rulings is yet another trade facilitation measure taken by CBIC. Link to access regulations - Click here
FAQ :
The Customs Authority for Advance Rulings started functioning from 4th January 2021.
It has started functioning in Delhi and Mumbai.
Importers, exporters, and investors will benefit from this new authority.
It will provide certainty on matters of classification, exemption notification, and principles of valuation of import/export goods.
It is a trade facilitation measure taken by the CBIC to help importers, exporters, and investors gain certainty in trade-related matters.
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