https://www.taxtmi.com/article/detailed?id=16896 Customs concessions and exemptions reduce or waive duty only when strict conditions are met under the Customs Act, 1962, exemption notifications, CBIC-administered policies, and customs procedures. The text distinguishes concessions from exemptions, identifies major schemes such as Advance Authorization, EPCG, SEZ benefits, RoDTEP, and FTA-linked preferences, and emphasizes that availing them requires correct notification citation, proper classification, end-use compliance, documentation, and timely fulfilment of obligations. It also notes customs verification, post-clearance audit, CAROTAR origin checks, and consequences for misuse, including duty recovery, interest, penalty, confiscation, prosecution, and increased scrutiny. en-us Sat, 11 Jul 2026 10:31:56 +0530 Sat, 11 Jul 2026 10:31:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16896 Customs concessions and exemptions reduce or waive duty only when strict conditions are met under the Customs Act, 1962, exemption notifications, CBIC-administered policies, and customs procedures. The text distinguishes concessions from exemptions, identifies major schemes such as Advance Authorization, EPCG, SEZ benefits, RoDTEP, and FTA-linked preferences, and emphasizes that availing them requires correct notification citation, proper classification, end-use compliance, documentation, and timely fulfilment of obligations. It also notes customs verification, post-clearance audit, CAROTAR origin checks, and consequences for misuse, including duty recovery, interest, penalty, confiscation, prosecution, and increased scrutiny. Articles Customs - Import - Export - SEZ Sat, 11 Jul 2026 10:31:56 +0530 https://www.taxtmi.com/article/detailed?id=16896