Import of goods under Project Import Regulations

[ROHIT GOEL]

Dear Sir,

A company had applied for endorsement from DIPP under the Project Import Regulations 1988 and such endorsement has been received on 5.11.2021. As per applicable regulations, company further needs to apply to customs port for approval under Project Import scheme and it is expected to take atleast 15 days ie till 20.11.2021. However, the shipment in question is expected to reach by 6.11.2021 at the designated port.

Any delay in clearance would lead to imposition of interest and penalties and other applicable charges. Is there any possible remedy so that the said charges etc can be minimized since the delay is not attributable to the company.

[Shilpi Jain]

You can consider clearing the goods into a customs bonded warehouse without clearing it for home consumption

[Raghunandhaanan rvi]

Sir

Yes. You can move the cargo to a Customs bonded warehouse without duty payment and clearance can be done after registration of the Project contract with customs and by filing an ex-bond bill of entry. I concur with the views of Shilpi Ji.

AI Summary

Project import delay: move goods to a customs bonded warehouse to avoid immediate duty and clear post-registration. Where DIPP endorsement under the Project Import Regulations is obtained but customs registration will only be completed after the ship's arrival, importers may move cargo to a customs bonded warehouse without duty payment and, following registration of the project contract with customs, file an ex bond bill of entry to clear goods for home consumption, thereby minimizing interest, penalties and related charges arising from delayed clearance.