https://www.taxtmi.com/article/detailed?id=10694 Importers seeking concessional duty under IGCR must file one time prior information (Form IGCR 1) to obtain an IGCR Identification Number (IIN), execute a continuity bond with security and an undertaking for differential duty and interest, and quote IIN and bond details in the bill of entry for concessional clearance. Ongoing obligations include maintenance of detailed accounts, immediate reporting of shortages, monthly IGCR returns, and recordkeeping for job work, unit transfers, end use supplies, and re export or home consumption of unutilized goods. Capital goods cleared for home consumption attract duty on depreciated value; breaches trigger recovery proceedings. en-us Mon, 19 Sep 2022 09:37:45 +0530 Mon, 19 Sep 2022 09:37:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10694 Importers seeking concessional duty under IGCR must file one time prior information (Form IGCR 1) to obtain an IGCR Identification Number (IIN), execute a continuity bond with security and an undertaking for differential duty and interest, and quote IIN and bond details in the bill of entry for concessional clearance. Ongoing obligations include maintenance of detailed accounts, immediate reporting of shortages, monthly IGCR returns, and recordkeeping for job work, unit transfers, end use supplies, and re export or home consumption of unutilized goods. Capital goods cleared for home consumption attract duty on depreciated value; breaches trigger recovery proceedings. Articles Customs - Import - Export - SEZ Mon, 19 Sep 2022 09:37:45 +0530 https://www.taxtmi.com/article/detailed?id=10694