https://www.taxtmi.com/circulars?id=57955 The circular prescribes India's operational framework for TIR Carnet transit: the carnet functions as the customs transit declaration and international guarantee issued by the NGA; customs at departure, transit and destination must verify cargo, apply seals, retain and exchange vouchers and counterfoils, and follow specified inquiry and notification procedures for irregularities. FICCI, as NGA, guarantees liabilities subject to a per carnet ceiling and exclusions; authorities must pursue directly liable persons before claiming the guarantee, and claims are converted at Board notified exchange rates with defined timelines for notice and payment. en-us Mon, 03 Dec 2018 00:00:00 +0530 Tue, 04 Dec 2018 09:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=57955 The circular prescribes India's operational framework for TIR Carnet transit: the carnet functions as the customs transit declaration and international guarantee issued by the NGA; customs at departure, transit and destination must verify cargo, apply seals, retain and exchange vouchers and counterfoils, and follow specified inquiry and notification procedures for irregularities. FICCI, as NGA, guarantees liabilities subject to a per carnet ceiling and exclusions; authorities must pursue directly liable persons before claiming the guarantee, and claims are converted at Board notified exchange rates with defined timelines for notice and payment. Circulars Customs Mon, 03 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=57955