custom

Lot many exporters have started receiving notice from Customs department for recovery of Drawback as below: Notice Specimen Sub: Non/Part Realization of Exports Proceeds for Drawback - reg.   While monitoring the realization of exports proceeds for shipping bills filed between 01.04.2014 to 31.03.2018 through ADVAlT / RBI BRC module of CBlC, it is observed that in respect of shipping bills filed by ______________________ (IEC _________) (hereinafter referred to as the exporte..

Shri Vivek Johri, Chairman, Central Board of Indirect Taxes and Customs (CBIC), presented a set of Time Release Studies (TRS) conducted by the department. TRS are essentially a performance measurement tool for assessing the cargo clearance process of the international trade, as recommended by the World Trade Organization (WTO) under the Trade Facilitation Agreement (TFA) and the World Customs Organization (WCO). It adopts average cargo release time, i.e. the time taken from the arrival of the..

Delhi Customs seize 5.85 kg cocaine, the biggest at any airport in India, on 6th April 2022 night In past six months, Delhi Airport Customs seized 33.70 kg of Heroin and 12.60 kg  Cocaine at IGI Airport 35 cases booked by Customs at IGI Airport, with street value of drug seized at Rs. 887.35 crore and 34 passengers arrested in 2021-22 alone The Delhi Airport Customs seized 5.85 kg cocaine, the biggest at any airport in India, on 6th April 2022 night at the IGI International Ai..

Exemption of IGST & Compensation Cess on imported goods or procured by EOU's, STP Units, EHTP units etc., till June 30, 2022 Read the official notification below - MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 31st March, 2022 No. 18/2022-Customs   G.S.R. 249(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Governme..

Exemption of IGST & Compensation Cess on imported goods under FTP 2015-2020 extended till June 30, 2022   Read the official notification below - MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 31st March, 2022 No. 19/2022-Customs G.S.R. 248 (E). - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do,..

Reduction of compliances and end-to-end automation of procedure relating to import of certain goods at concessional rate of duty In a significant step towards Atmanirbhar Bharat, Central Board of Indirect Taxes & Customs (CBIC) has reduced the compliances required under the Customs (Import of Goods at Concessional Rate of Duty-IGCR) Rules, 2017 and introduced end to end automation of the procedure involved. Towards this end, the online portal has gone live on www.icegate.gov.in ..

The Central Board of Indirect Taxes and Customs (CBIC) and all its field formations observed the International Customs Day, 2022 yesterday. The theme for this year, as given by the World Customs Organisation (WCO) was "Scaling up Customs Digital Transformation by Embracing a Data Culture and Building a Data Ecosystem". Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman and Union Minister of State for Finance Shri Pankaj Chaudhary congratulated the CBIC today ..

Every year, the officers and staff of the Central Board of Indirect Taxes & Customs are considered for grant of Presidential Award of Appreciation Certificates and Medals for "Exceptionally Meritorious Service rendered at the Risk of Life" and for "Specially Distinguished Record of Service" on their achieving and maintaining excellence in the discharge of their duties. These awards are announced on the eve of Republic Day. This year, 29 officers/Staff&nb..

Delhi Customs Officials recover smuggled gold worth over Rs 7.5 lakh along with Fake Indian Currency Notes worth Rs 10 lakhs at IGI Airport; 2 arrested On 12.01.2022, one Indian passenger, who arrived at T-3, IGI Airport, New Delhi from Ras AI Khanimah International Airport UAE by Flight No. SG753 dated 12.01.2022, was intercepted by the Customs Officers of IGI Airport.   The Customs officers recovered 24 (Twenty four)  pieces of silver plated cylindrical shaped of gold t..

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of Agreement between India and Spain on Cooperation and Mutual Assistance in Customs Matters.  Benefits The Agreement will help in making available, reliable, quick and cost-effective information and intelligence for the prevention and investigation of Customs offences and apprehending of Customs offenders. The Agreement would provide a legal framework for sharing of information between the ..

Based upon an intelligence that M/s Xiaomi Technology India Private Limited (Xiaomi India) was evading customs duty by way of undervaluation, an investigation was initiated by the Directorate of Revenue Intelligence (DRI) against Xiaomi India and its contract manufacturers. During the investigation, searches were conducted by the DRI at the premises of Xiaomi India, which led to the recovery of incriminating documents indicating that Xiaomi India was remitting royalty and licence fee to Qualcomm..

Clarification regarding factually incorrect tweets claiming that the government has increased the rate of duty on imports against certain commodities post alignment of Customs Tariff to the Harmonized System of Nomenclature (HS)-2022 of World Customs Organisation. CLARIFICATION   Effective 01.01.2022, the Customs Tariff has been aligned to the Harmonized System of Nomenclature (HS)-2022 of the World Customs Organisation (WCO). However, certain factually incorrect tweets are doing r..

Customs officials detect around 1 kg of cocaine ingested as pellets by passenger at IGI Airport, one arrested In a display of tremendous alacrity, the Customs officers at Indira Gandhi International Airport (IGIA), New Delhi, unravelled yet another case of cocaine smuggling by detecting a case of human ingestion of specially designed pellets containing cocaine. Customs officers identified one Ugandan passenger, who arrived at Terminal-3, IGIA a few days back. The gait and body movements of..

The professional training of the 71st Batch of IRS(C&IT) culminated with a Passing Out Parade here today at National Academy of Customs, Indirect Taxes and Narcotics (NACIN), Faridabad. The 71st Batch consists of 35 officers, which includes 10 lady officers. These young officers will be at the helm of administering GST, India’s most iconic reform in the indirect taxation regime, since independence. Shri Vivek Johri, Chairman, Central Board of Indirect Taxes & Customs (..

Customs field formations and Directorate of Revenue Intelligence have seized 3626.85 kg during 2019-20, 1944.392 kg during 2020-21 and 1717.396 kg during 2021-22 (till November). This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha. However, the Minister stated, being a clandestine activity, the quantity of gold smuggled into the country cannot be accurately estimated.   The Minister stated that there is n..

The Delhi Customs on 16th December 2021 seized a consignment of diamonds being sent out of India, having 1,082 carat weight. The officers of Air Cargo Export Commissionerate, Delhi on the basis of suspicion, examined a consignment declared as ‘plastic hot fix’ with a value of Rs. 5000/-.   On examination, a packet containing pouches of cut and polished diamonds was found concealed very ingeniously in the packets of’ plastic hot fix’. The packet o..

VALUATION & PROVISIONAL ASSESSMENTS UNDER CUSTOMS: GEMS, PRECIOUS AND SEMIPRECIOUS STONES - AN UNDERSTANDING Introduction Valuation is one of the most crucial aspect for an organisation engaged in import and export of gems, precious and semi-precious stones considering high value transactions. This also necessitates that the value adopted for custom duty purpose is properly documented with contemporaneous evidence so that the valuation is not questioned by the customs department a..

Introduction CBIC has launched a revamped tax information portal Click Here. With the help of this portal, all indirect tax legislations, rules, regulations and forms will be available for the easy reference of taxpayers. CBIC will continuously update and expand this portal in a phased manner. Categories In this website, information under all categories such as Customs Law, GST Law, Central Excise Law, and even the erstwhile Service Tax Law will be available.   Feedback CB..

The Delhi Customs in a swift operation on 29.11.2021 busted a unique modus operandi and seized smuggled goods worth ₹1.2 crore.  Acting on specific intelligence officers of Air Cargo Export Commissionerate, intercepted an import consignment at New Courier Terminal. A case of outright smuggling of Pakistan origin cosmetic products weighing 2800 kg was detected. The goods were being routed through Abu Dhabi under the guise of household articles to evade detection. A lot of 87 con..

The Central Board of Indirect Taxes and Customs has appointed Senior Bureaucrat Vivek Johri as the Chairman of CBIC. Vivek Johri, a senior civil servant, is currently a member of the CBIC, handling GST and tax policy. Johri succeeds current chairman of the Board Ajit Kumar.     As the Budget comes closer, the new Chairman would be required to undertake the government’s promised customs duty rejig aimed at boosting local manufacturing activities. The indirect tax admin..