Subject : VBAL – Endorsement in sensitive List
Instances have been brought to the notice of the Board where exporters are facing difficulties in clearing their imported goods on account of objections being raised by the custom Houses with regard to endorsement of quantities/ value in the Sensitive Lists. In this regard the position is clarified as under :-
(b) But in respect of sensitive goods endorsed on the Licence and falling in Part III of the Sensitive List with both quantity and value restrictions, the value of such goods in the sensitive goods should be excluded from the general flexibility allowed under the Scheme. This is amplified in the Head Note at page 733 of Handbook (Volume II) which reads as under:-
2. The above position has been clarified in Member (Cus+EP)’s telex F.No. 605/1/95- DBK dated 24.3.95 addressed to Shri S.K.
Bhardwaj, Collector of Customs, Bombay and to all Collectors of Customs.
3. Based on the above guidelines, please issue recovery instructions and ensure immediate clearance of all Bills of Entries pending. In case of any doubt on any of the DEEC import, Collectors should contact either Member (Customs + EP) or Commissioner (Drawback) on Telephone followed by Fax on the doubts for issuing clarifications.
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018