Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
This circular announces the implementation of automation in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 for Export Oriented Units (EOUs) effective September 1, 2024. EOUs will be required to obtain an IGCR Identification Number (IIN) on the ICEGATE portal and register their IGCR bond for filing a bill of entry with IGCR benefit. The existing customs clearance processes for EOUs will be replaced by IGCR procedures. The circular instructs EOUs to register immediately as the SEZ Unit becomes ICEGATE enabled. It directs customs officials to issue public notices, assist trade during the transition period, and issue standing orders. Any implementation difficulties should be reported to the Board.
This circular announces the implementation of automation in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 for Export Oriented Units (EOUs) effective September 1, 2024. EOUs will be required to obtain an IGCR Identification Number (IIN) on the ICEGATE portal and register their IGCR bond for filing a bill of entry with IGCR benefit. The existing customs clearance processes for EOUs will be replaced by IGCR procedures. The circular instructs EOUs to register immediately as the SEZ Unit becomes ICEGATE enabled. It directs customs officials to issue public notices, assist trade during the transition period, and issue standing orders. Any implementation difficulties should be reported to the Board.
Note: It is a system-generated summary and is for quick reference only.