Customs Update: Custodians at ICDs, CFSs, EPZs now only insure goods not covered by exporters/importers.

The circular from the Central Board of Excise & Customs amends previous guidelines regarding the insurance of goods at Inland Container Depots (ICDs), Container Freight Stations (CFSs), and Export Processing Zones (EPZs). Previously, custodians were required to insure all goods. The amendment specifies that custodians are now only responsible for insuring goods that have not already been insured by exporters or importers. This change addresses concerns from trade and industry about double insurance charges. The circular instructs relevant parties to issue a public notice about this amendment and requests acknowledgment of receipt.

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