Tag Archives: customs

14.61 kms

14.61 kms in absolutely gorgeous weather here in Bombay. Brilliant, crisp winter. Felt like running and running not getting tired at all. Happy Republic Day India, Liberation Day Uganda, International Customs Day.

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imports of goods at concessional rates


The Finance Minister had in her Budget Speech this year announced that the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 (IGCR, 2017) would be amended to boost trade facilitation. Accordingly, the Central Board of Customs and Indirect Taxes( CBIC) had immediately enhanced the scope of these rules on 2nd February 2021.

The CBIC has now issued a Circular No.10/2021-Customs, dated 17th May 2021 in order to assist the trade in understanding the improvements in the IGCR, 2017 so that they may make full use of the new facilities. Kindly click here to see the Circular

The IGCR, 2017 lay down the procedures and manner in which an importer can avail the benefit of a concessional Customs duty on import of goods required for domestic production of goods or providing services. One major change that accommodates the needs of trade and industry is that the imported goods have been permitted to be sent out for ‘job work’. The absence of this facility had earlier constrained the industry especially those in the MSME sector which did not have the complete manufacturing capability in-house.

Importantly, even importers who do not have any manufacturing facility can now avail the IGCR, 2017 to import goods at concessional Customs duty and get the final goods manufactured entirely on job work basis.However, some sectors such as gold, jewellery, precious stones and metals have been excluded.

Another major incentive now provided is to allow those who import capital goods at a concessional Customs duty to clear them in the domestic market on payment of duty and interest, at a depreciated value. This was not allowed earlier and manufacturers were stuck with the imported capital goods after having used them as they could not be easily re-exported.

Further, the procedure for availing the concessional Customs duty under these rules have been reviewed and rationalized. The required intimations and records can be sent by email to the jurisdictional Customs officer thereby obviating any physical interface.

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bill of entry

update from CBIC twitter handle

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faceless assessment at customs

Circular no. 40/2020 dated 4th September, 2020 by CBIC regarding faceless assessment at the customs ports.

The key elements of the Turant Customs programme are Faceless, Contactless and Paperless Customs clearance processes. This includes faceless or anonymised assessment, self-registration of goods by importers, automated clearances of bills of entry, digitisation of Customs documents, etc. The objectives sought to be achieved are exponentially faster
clearance of goods, reduced interface between trade and Customs officers and enhanced ease of doing business. The phased launch of the Turant Customs programme in select ports of import was aimed at testing in a real-life environment, the IT capabilities as well as the responsiveness of the trade and Customs officers to the various initiatives. The results have
been reviewed and these have confirmed that the stated objectives are being met. The stage is now set for extending the Turant Customs programme across all Customs ports pan India and thereby ushering in a more modern, efficient, and professional Customs administration with
resultant benefits for trade and industry.

Board has decided to roll-out the Faceless Assessment at an All India level in all ports of import and for all imported goods by 31.10.2020

Details of the rollout are given in this circular


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import data in GSTR-2A


Two new tables have been inserted in GSTR-2A for displaying details of import of goods from overseas and inward supplies made from SEZ units / SEZ developers. Taxpayers can now view their bill of entries data which is received by the GST System (GSTN) from ICEGATE System (Customs). The present data upload has been done on a trial basis to give a feel of the functionality and to get feedback from the taxpayers on the same.

Currently, the system is displaying data up to 6th August, 2020. Further, taxpayers may note that system is currently does not contain import information for bill of entries filed at non-computerized ports (non-EDI ports) and imports made through courier services/post office. This will be made available shortly.

It may also be noted that amendment information made in the details of bill of entries will also be provided soon.

Taxpayers are requested that they share their feedback through raising a ticket on the self-service portal (https://selfservice.gstsystem.in/)

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Relief package – covid

Some relief measures announced by Indian Finance Minister today at 2 p.m.

Income Tax
1. Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020.
2. Aadhaar-PAN linking date to be extended from 31st March, 2020 to 30th June, 2020.
3. Vivad se Vishwas scheme – no additional 10% amount, if payment made by June 30, 2020.
4. Due dates for issue of notice, intimation, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents and time limit for completion of proceedings by the authority and any
compliance by the taxpayer including investment in saving instruments or investments for roll over benefit of capital gains under Income Tax Act, Wealth Tax Act, Prohibition of Benami Property Transaction Act, Black Money Act, STT law, CTT Law, Equalization Levy law, Vivad Se Vishwas law where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.
5. For delayed payments of advanced tax, self-assessment tax, regular tax, TDS, TCS, equalization levy, STT, CTT made between 20th March 2020 and 30th June 2020, reduced interest rate at 9% instead of 12 %/18 % per annum ( i.e. 0.75% per month instead of
1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.
6. Necessary legal circulars and legislative amendments for giving effect to the aforesaid relief shall be issued in due course.
GST/Indirect Tax
1. Last date for filing GSTR-3B in March, April and May 2020 will be extended till the last week of 30th June, 2020 for those having aggregate annual turnover less than Rs. 5 Crore. No interest, late fee, and penalty to be charged.
2. For any delayed payment made between 20th March 2020 and 30th June 2020 reduced rate of interest @9 % per annum ( current interest rate is 18 % per annum) will be charged. No late fee and penalty to be charged, if complied before till 30th June 2020.
3. Date for opting for composition scheme is extended till the last week of June, 2020. Further, the last date for making payments for the quarter ending 31st March, 2020 and filing of return for 2019-20 by the composition dealers will be extended till the last
week of June, 2020.
4. Date for filing GST annual returns of FY 18-19, which is due on 31st March, 2020 is extended till the last week of June 2020.
5. Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing of return, statements, applications, reports, any other documents, time limit for any compliance under the GST laws where the time limit is expiring
between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.
6. Necessary legal circulars and legislative amendments to give effect to the aforesaid GST relief shall follow with the approval of GST Council.
7. Payment date under Sabka Vishwas Scheme shall be extended to 30th June, 2020. No interest for this period shall be charged if paid by 30th June, 2020.
8. 24X7 Custom clearance till end of 30th June, 2020
9. Due date for issue of notice, notification, approval order, sanction order, filing of appeal, furnishing applications, reports, any other documents etc., time limit for any compliance under the Customs Act and other allied Laws where the time limit is expiring between 20th March 2020 to 29th June 2020 shall be extended to 30th June 2020.

Financial Services
1. Relaxations for 3 months
• Debit cardholders to withdraw cash for free from any other banks’ ATM for 3 months
• Waiver of minimum balance fee
• Reduced bank charges for digital trade transactions for all trade finance consumers

Corporate Affairs
1. No additional fees shall be charged for late filing during a moratorium period from 01st April to 30th September 2020, in respect of any document, return, statement etc., required to be filed in the MCA-21 Registry, irrespective of its due date, which will
not only reduce the compliance burden, including financial burden of companies/ LLPs at large, but also enable long-standing noncompliant companies/ LLPs to make a ‘fresh start’;
2. The mandatory requirement of holding meetings of the Board of the companies within prescribed interval provided in the Companies Act (120 days), 2013, shall be extended by a period of 60 days till next two quarters i.e., till 30th September;
3. Applicability of Companies (Auditor’s Report) Order, 2020 shall be made applicable from the financial year 2020-2021 instead of from 2019-2020 notified earlier. This will significantly ease the burden on companies & their auditors for the year 2019-20.
4. As per Schedule 4 to the Companies Act, 2013, Independent Directors are required to hold at least one meeting without the attendance of Non-independent directors and members of management. For the year 2019-20, if the IDs of a company have not been able to hold even one meeting, the same shall not be viewed as a violation.
5. Requirement to create a Deposit reserve of 20% of deposits maturing during the financial year 2020-21 before 30th April 2020 shall be allowed to be complied with till 30th June 2020.
6. Requirement to invest 15% of debentures maturing during a particular year in specified instruments before 30th April 2020, may be done so before 30th June 2020.
7. Newly incorporated companies are required to file a declaration for Commencement of Business within 6 months of incorporation. An additional time of 6 more months shall be allowed.
8. Non-compliance of minimum residency in India for a period of at least 182 days by at least one director of every company, under Section 149 of the Companies Act, shall not be treated as a violation.
9. Due to the emerging financial distress faced by most companies on account of the large-scale economic distress caused by COVID 19, it has been decided to raise the threshold of default under section 4 of the IBC 2016 to Rs 1 crore (from the existing threshold of Rs 1 lakh). This will by and large prevent triggering of insolvency
proceedings against MSMEs. If the current situation continues beyond 30th of April 2020, we may consider suspending section 7, 9 and 10 of the IBC 2016 for a period of 6 months so as to stop companies at large from being forced into insolvency proceedings in such force majeure causes of default.
10. Detailed notifications/circulars in this regard shall be issued by the Ministry of Corporate Affairs separately.

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Customs Baggage Declaration Regulations – 2014 Amendment

The Central Board of Excise and Customs (CBEC) has amended the Customs Baggage (Declaration) REgulations 2013 by increasing the limit of Indian currency which foreigners who enter India have to declare from Rs.7500/- to Rs.10,000/-.

Further they also have to declare their hand baggages along with the cargo baggages whilst entering India. The principal Regulations i.e.Customs Baggage (Declaration) REgulations 2013 was passed in 2013 and can be accessed at this link i.e. 


and the amendment regulations of 2014 at this link i.e. 


But the beautiful part of it is that the entire 2013 Regulations has not come into effect as yet. It will come into effect only from 1st March 2014. 

Therefore frequent flyers abroad are requested to get acquainted with these regulations. 

The relevant portion of the regulations are given below. Every passenger coming to India has to declare the following.


Are you bringing the following items into India?   (please tick Yes or No)


Prohibited Articles

Yes  / No


Gold jewellery (over Free Allowance)

Yes  / No


Gold Bullion

Yes  / No


Meat and meat products/dairy products/fish/poultry products       

Yes  / No


Seeds/plants/seeds/fruits/flowers/other planting material

Yes  / No


Satellite phone

Yes  / No


Indian currency exceeding Rs. 10,000/-

Yes  / No


Foreign currency notes exceed US $ 5,000 or equivalent

Yes  / No


Aggregate value of foreign exchange including currency exceeds US $ 10,000 or equivalent.

Yes  / No



Please report to Customs Officer at the Red Channel counter in case answer to any of the above question is ‘Yes’.

Prohibited items are as under:






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