CBIC Reduces Compliances For Import Of Goods At Concessional Rate Of Customs Duty

"The CBIC has reduced the compliances required under the Customs (Import of Goods at Concessional Rate of Duty-IGCR) Rules ,2017 and introduced end to end automation of the procedure involved. Towards this end, the online portal has gone live on www.icegate.gov.in today. Importers desirous of availing exemptions linked to these Rules may register on the portal now," the press release read.

Based on the feedback from the Industry, the procedures were simplified and made paperless and contactless with end-to-end automation.

All the intimations for claiming such exemptions can be submitted electronically, through a common portal that has been notified.

The various forms in which details need to be submitted electronically have also been standardised and notified.

The transaction-based permissions and intimations which were a part of the erstwhile procedures have now been done away with.

Instead of a quarterly return, for effective monitoring of the use of goods for the intended purposes, a monthly statement has been introduced. This statement shall also be submitted by the importer electronically on the Common Portal.

Accepting the demand of the trade, a specific provision has been introduced clarifying the procedure for allowing imported goods for inter-unit transfer.

In order to further ease the procedures, an option for voluntary payment through the Common Portal, as specified in the Rules, is being enabled shortly.

The importers have been given an option to follow the erstwhile procedure till March 13, 2022, so as to facilitate the transition in a smooth and seamless manner.