Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 notified vide Notification 74/2022 dated 9th September, 2022
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Concessional import duty rules broadened to cover specified end use, allow limited utilisation extensions, and revise guarantee norms. The 2022 IGCR Rules broaden IGCR coverage while retaining core procedures: where utilisation time is unspecified six months applies, with a one time three month extension possible for reasons beyond the importer's control; mandatory intimation, IIN generation, bond submission, record maintenance and monthly statement filing continue, and a new online confirmation form allows immediate bond re credit by the jurisdictional AC/DC prior to the monthly statement.
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Concessional import duty rules broadened to cover specified end use, allow limited utilisation extensions, and revise guarantee norms.
The 2022 IGCR Rules broaden IGCR coverage while retaining core procedures: where utilisation time is unspecified six months applies, with a one time three month extension possible for reasons beyond the importer's control; mandatory intimation, IIN generation, bond submission, record maintenance and monthly statement filing continue, and a new online confirmation form allows immediate bond re credit by the jurisdictional AC/DC prior to the monthly statement.
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