Trade Facilitation is a key enabler for simplification of procedures and reduction of barriers to the trade.  The major Objective of Trade Facilitation is to Reduce Time and Cost for the EXIM community and help them become more competitive in the International Arena. In line with this momentum, CBIC has implemented next generation reform...

As per the Foreign Trade Policy 2015-20 (FTP), the 100% Export Oriented Units (EOU) are exempted from payment of duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 and additional duty leviable under section 3 of the Customs Tariff Act, 1975. The exemption from custom duty and additional custom [&hell...

Key objectives of Faceless Assessment include: i. Anonymity in assessment for reduced physical interface between trade and Customs ii. Speedier Customs clearances through efficient utilisation of manpower iii. Greater uniformity of assessment across locations iv. Promoting sector specific and functional specialisation in asses...

Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR, 2020) This Flyer contains background information for importers and other stakeholders and seeks to provide guidance on compliance of CAROTAR, 2020, which have come into force w.e.f. 21.09.2020. 1. Free Trade Agreements (FTAs) 1.1 Trade agreements are ...

In India custom clearance is a complex and time taking procedure that every export face in his export business. Physical control is still the basis of custom clearance in India where each consignment is manually examined in order to impose various types of export duties. High import tariffs and multiplicity of exemptions and export promot...

Authorised Economic operator Programme (AEO) is a voluntary compliance programme by Indian customs to provides a strengthen of international supply chain facility and facilitate movement of legitimate goods....

The Government of India Central Board of Indirect Taxes and Custom vide their notification No. 38/2018- Customs (N.T.) have announced Sea Cargo Manifest and Transshipment Regulations 2018, which were supposed to come into force on August 1, 2018. Following a number of extensions and amendments, the Regulations are finally scheduled fro...

All Odisha Tax Advocates Association has  made Suggestions for review of existing Customs duty exemption notifications / Customs laws and procedures to CBIC. Text of the Submission id as follows- 21’st August’ 2020 To, Shri S. W. Haider, OSD (TRU). Central Board of Indirect Taxes and Customs, Government of India, Ministry of Finance,...

Circular No. 33/2016-Customs dated 22nd July, 2016 1. AEO-LO Certificate– This certificate may be granted to categories of economic operators other than importers and exporters, namely Logistics Providers, Custodians or Terminal Operators, Customs Brokers and Warehouse For the purpose of this certificate: (i.) the economic operator sho...

New Foreign Trade Policy was expected w.e.f. 1st April 2020 addressing the issues, which was raised by USA against India before WTO Authority and WTO Authority have held the EPCG Scheme, DFIA Scheme, EOU Scheme and SEZ Scheme violating the principles of WTO. Albeit Govt of India have filed the appeal against the same and […]...