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Law:

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Fourth Schedule
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Sea Cargo Rules Amended: Lower Monetary Threshold, Expanded AEO Definition, Extended Deadlines in Regulation 15.

The Sea Cargo Manifest and Transhipment (Third Amendment) Regulations, 2020, issued by the Central Board of Indirect Taxes and Customs, amend the 2018 regulations. The amendments include reducing the monetary threshold from ten lakhs to five lakhs and expanding the definition of Authorized Economic Operator to include Customs Brokers licensed under the 2018 Customs Brokers Licensing Regulations. Additionally, the implementation dates in regulation 15 are extended to 1st November 2020 and 31st March 2021, respectively. These changes are effective upon publication in the Official Gazette.

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Sea Cargo Rules Amended: Lower Monetary Threshold, Expanded AEO Definition, Extended Deadlines in Regulation 15.

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