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        <h1>Mumbai Customs Mandates Standardized Format for Project Imports Reconciliation Statements Under 1986 Regulations; Immediate Compliance Required.</h1> The Commissioner of Customs (Import) in Mumbai has issued a directive to standardize the format for Reconciliation Statements required for finalizing contracts under the Project Imports Regulations, 1986. Previously, importers used varied methods to prepare these statements, leading to inefficiencies in verifying numerous Bills of Entry against Recommendatory Letters and Purchase Orders. To streamline this process, a specific format has been prescribed, detailing necessary information such as R.L. No., P.O. No., quantity and value, and any discrepancies in imports. Importers are required to adopt this format immediately, and those with pending cases must submit the updated Reconciliation Statement within one month.

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