Deferred customs duty payment scheme since Apr; CBIC to handhold MSMEs
CBIC will conduct outreach programmes and handhold MSMEs to encourage them to opt for the Eligible Manufacturer Importer (EMI) scheme, a senior official said on Wednesday.
Category: customs in media
CISF foils Rs 2.4 crore gold smuggling bid at Delhi airport
An international passenger was caught trying to smuggle nearly 1.6 kg of gold worth about Rs 2.4 crore by concealing it in his undergarment at Delhi’s Indira Gandhi International Airport, officials said.
CBIC releases import clearance checklist for cosmetics, drugs, and medical devices
The Central Board of Indirect Taxes and Customs (CBIC) has released a standardized checklist for Customs officers to review prior to approving import consignments of cosmetics, drugs, and medical devices. Under the provisions of the Drugs and Cosmetics Act, 1940,…
Customs transitioned from duty collector to trade facilitator, says official
The Customs Department has successfully transitioned from a traditional duty collection agency into a dedicated facilitator of global trade, a senior official said on Tuesday.
Govt operationalises inventory-based cross-border e-commerce export framework
The government on Wednesday operationalised inventory-based e-commerce exclusively for exports, requiring interested firms to conduct business through a registered entity as an exporter-on-record (EOR), which can procure goods domestically only against confirmed overseas orders.
DGFT, CBIC Integration via ICEGATE Streamlines Export Schemes: Govt to Parliament
The government on Tuesday told Parliament that the Directorate General of Foreign Trade (DGFT) and the Central Board of Indirect Taxes and Customs (CBIC) maintain regular coordination and electronic data exchange to ensure smooth implementation of export promotion schemes.
DRI seizes over 27 kg smuggled gold; 12 arrested in nationwide crackdown
DRI has intensified its crackdown on gold smuggling syndicates, resulting in the seizure of over 27 kilograms of foreign-origin smuggled gold and the arrest of 12 persons.
India reimposes customs duties on key petrochemicals as import waiver lapses
India has reinstated a 7.5 percent customs duty on a wide range of petrochemical imports after the expiration of a temporary exemption, raising fresh questions for manufacturers and downstream industries dependent on these critical inputs.
Downstream aluminium bodies seek lower import duty on primary aluminium
Two downstream aluminium industry bodies have urged the Ministry of Mines to reduce the effective Customs duty on primary aluminium, saying the current tariff structure has enabled import-parity pricing by domestic producers, raising input costs and eroding the profitability of micro, small and medium enterprises (MSMEs).
Anti-dumping duty: Is there a communication gap between the DGTR and CBIC
There is a growing concern in Indian industry about the opacity in the imposition of Anti-dumping duty (ADD).