Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 24 views

    Cs Ins 05 2021

    Uploaded by

    Sri Charan
    The document is an instruction from India's Central Board of Indirect Taxes and Customs regarding proposed amendments to Section 46 of the Customs Act that would require importers to file bills of entry before the end of the day preceding an import arrival. This is a significant change from allowing filing after arrival. Field formations are urged to issue notices to sensitize traders of the coming changes to avoid inconvenience. A clarifying circular will be issued after the Finance Bill is passed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Cs Ins 05 2021

    Uploaded by

    Sri Charan
    24 views2 pages
    The document is an instruction from India's Central Board of Indirect Taxes and Customs regarding proposed amendments to Section 46 of the Customs Act that would require importers to file bills of entry before the end of the day preceding an import arrival. This is a significant change from allowing filing after arrival. Field formations are urged to issue notices to sensitize traders of the coming changes to avoid inconvenience. A clarifying circular will be issued after the Finance Bill is passed.

    Original Title

    cs-ins-05-2021

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document is an instruction from India's Central Board of Indirect Taxes and Customs regarding proposed amendments to Section 46 of the Customs Act that would require importers to file bills of entry before the end of the day preceding an import arrival. This is a significant change from allowing filing after arrival. Field formations are urged to issue notices to sensitize traders of the coming changes to avoid inconvenience. A clarifying circular will be issued after the Finance Bill is passed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    24 views2 pages

    Cs Ins 05 2021

    Uploaded by

    Sri Charan
    The document is an instruction from India's Central Board of Indirect Taxes and Customs regarding proposed amendments to Section 46 of the Customs Act that would require importers to file bills of entry before the end of the day preceding an import arrival. This is a significant change from allowing filing after arrival. Field formations are urged to issue notices to sensitize traders of the coming changes to avoid inconvenience. A clarifying circular will be issued after the Finance Bill is passed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Instruction No.

    05/2021-Customs

    F.No.450/77/2021-Cus-IV(Pt-1)
    Government of India
    Ministry of Finance
    Department of Revenue
    Central Board of Indirect Taxes and Customs
    ******
    Room No.227B, North Block,
    New Delhi, dated the 24th of March, 2021

    To

    All Principal Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive),


    All Principal Chief Commissioners/Chief Commissioners of Customs & Central tax,
    All Principal Commissioners/Commissioners of Customs/Customs (Preventive),
    All Principal Commissioners/Commissioners of Customs & Central tax,
    All Principal Director Generals/Director Generals under CBIC.

    Madam/ Sir,

    Subject: Urgent measures to sensitise trade in light of proposed changes to


    Section 46 of the Customs Act, 1962–reg.

    Kind reference is invited to the proposed amendments in Section 46 of the Customs


    Act, 1962 introduced through the Finance Bill, 2021 [clause 84 of the Bill].

    2. Subject to passing of Finance Bill, 2021 by the Parliament of India, these changes in
    Section 46 would facilitate pre-arrival processing and assessment of Bills of Entry (BE) by
    mandating their advance filing thus leading to significant decrease in the Customs clearance
    time. The amended Section 46 would require an importer to file a BE before the end of the
    day (including holidays) preceding the day of arrival of the vessel/aircraft/vehicle carrying the
    imported goods at a Customs port/station at which such goods are to be cleared for home
    consumption or warehousing.

    3. The proposed amendments in Section 46 also empower the Board to prescribe


    different time limits for filing of BE in certain cases, but not later than the end of the day of
    arrival of the vessel/aircraft/vehicle at the Customs port/station. Trade has represented for a
    relaxation so as to prescribe a different time line for filing of Bills of Entry in respect of
    imports at Land Customs Stations and airports, imports consigned from neighbouring
    countries, which arrive by short-haul vessels citing practical difficulties that may arise in filing
    of the BE before the end of the day (including holiday) preceding the day of arrival of the
    vessel/aircraft/vehicle carrying the imported goods at a Customs port/station. Board is
    considering the same. However, any relaxation, that is found merited can be notified only
    after the proposed amendment to Section 46 comes into effect.

    4. It may be noted that the aforementioned changes would be a distinct departure from
    the present legal provision that allows the filing of a BE even after the arrival of the
    vessel/aircraft/vehicle. Therefore, it is of utmost importance that the trade/Customs Brokers
    etc. are alerted to be ready for the change, which would come into force shortly with the
    enactment of the Finance Bill, 2021. Hence, Board requests all the field formations to issue

    Page 1 of 2
    suitable Public Notices/Trade Notices urgently to sensitize the trade so as to avoid
    inconvenience and disruptions.

    5. Board would shortly issue a detailed clarificatory circular on the subject, once the
    Finance Bill, 2021 is enacted.

    6. Difficulties, if any, may please be brought to the notice of Board. Hindi version
    follows.

    Yours faithfully,

    (Ananth Rathakrishnan)
    Deputy Secretary (Customs)

    Page 2 of 2

    You might also like