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of <h1>New Regulations for Post-Export Conversion in Instrument-Based Schemes Under Customs Act, 1962 Announced</h1> The Shipping Bill (Post Export Conversion in Relation to Instrument Based Scheme) Regulations, 2022, established by the Ministry of Finance's Department of Revenue and the Central Board of Indirect Taxes and Customs, were notified on February 22, 2022. These regulations, enacted under the Customs Act, 1962, apply to shipping bills or bills of export filed from the date of their publication in the Official Gazette. The regulations aim to facilitate post-export conversion related to instrument-based schemes, ensuring compliance with the statutory framework governing customs and export procedures.
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