Page 3 - Customs

SME Chatroom: Duty drawback permitted on FOB value without bank charges

Agency commission and foreign bank charges, separately or jointly, exceeding this limit should be deducted from the FOB value for granting duty drawback, the CBIC says

India sees significant improvement in UNESCAP score on trade facilitation

India has seen a "significant improvement" in the UNESCAP's Global Survey on Digital & Sustainable Trade Facilitation with a 90.32 per cent score. After evaluation of 143 economies, the Survey 2021 has highlighted India's significant improvement in the scores on all five key indicators -- transparency, formalities, institutional arrangement and cooperation, paperless trade and cross-border paperless trade. India has scored 90.32 per cent in the global survey on Digital and Sustainable Trade Facilitation. This is a remarkable jump from 78.49 per cent in 2019. Under the transparency indicator, the country scored 100 per cent in 2021, up from 93.33 per cent in 2019. The score for 'paperless trade' improved to 96.3 per cent in 2021, from 81.48 per cent in 2019. The score in the institutional arrangement and cooperation indicator improved to 88.89 per cent, from 66.67 per cent in 2019. In a statement, the Finance Ministry said that India has seen "significant improvement" in the score

Govt identifies items for Customs exemptions review, asks for views

Importers, exporters, domestic industry and trade associations are invited to give views on the subject for consideration by the government by August 10 on the 'MyGov.in' portal.

iPhones worth Rs 1 Crore seized at Delhi Airport's new courier terminal

Customs officials seized as many as 90 iPhones with an estimated value of Rs 1 crore from Delhi airport's new courier terminal on Friday

367 iPhones worth Rs 3.19 crore seized by Delhi Customs department

A total of 367 iPhones with an estimated market value of Rs 3.19 crore were seized at NCT by Special Investigation and Intelligence Branch (SIIB) and ACC Export Commissionerate

Cabinet approves India-UK deal on information sharing, Customs cooperation

The draft text of the proposed agreement has been finalised with the concurrence of the two Customs administrations.

Lowering import duty to bring down vax price

The Customs has a critical role in facilitating the cross-border movement of the vaccines

US Customs finds forced labour at Malaysia's Top Glove, to seize gloves

The US Customs has found forced labour practices in Top Glove Corp Bhd's production of disposable gloves and directed its ports to seize goods from the manufacturer, it said on Monday

Relaxed norms to help MSMEs get AEO recognition

At present, there 791 entities with AEO-LO recognition, 3,206 parties with AEO-T1 recognition, 581 parties with AEO-T2 recognition, and 20 parties with AEO-T3 recognition

Cargo clearance remains a long haul for importers; industry seeks relief

Industry says goods originating from least-developing countries but routed through some other country are not getting the preferential duty benefit

From customs to fishing, the key terms of post-Brexit trade deal

New rules require the UK to self-certify the origin of its exports to the EU.

Sea change in customs clearance as govt addresses complaints over delays

74 per cent of consignments at ports got nod in less than 48 hours on Sunday

Gold smuggling case: HC stops Customs from arresting Sivasankar till Oct 23

He alleged that the attempt of the investigating agency was to sabotage the process of law and choose a date that is Friday evening to arrest him

Customs department seeks to allay free-trade agreements misuse concerns

A new provision was introduced in February in the Customs Act for strict verification of rules of origin of imports under FTAs

Provisional assessment allowed when Customs doubt origin of goods: Expert

Compulsory verification of assessment will be discontinued once the importer demonstrates that he has established adequate system of controls to exercise reasonable care

Faceless income tax assessment starts today: Here is all you need to know

Faceless assessment enables an assessing officer, who is physically located in a particular jurisdiction, to assess a Bill of Entry pertaining to imports made at a different Customs station

Customs seized goods worth Rs 110 cr in northeast during Covid-19

The customs sleuths have seized various goods worth Rs 110 crore in 710 operations in North East since the COVID-19 pandemic hit the country and the region, a senior official said on Wednesday.

Customs to raise vigil on electronic items from FTA countries from 21 Sept

Finance ministry sources said misuse of the FTA route has been on the rise for the last few years to escape customs duty on imports

Customs to roll out pan-India faceless assessment for all imports by Oct 31

The CBIC has constituted 11 National Assessment Centres (NACs), consisting of the Principal Commissioners/ Commissioners of Customs.

Customs to roll our faceless assessment for imported goods from Oct 31

The Faceless Assessment is being rolled out under the umbrella of the next generational Turant Customs programme.