Budget Related Changes In ICES

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..... Attention of all. Importers, Customs Brokers, Members of the Trade & industry Associations, Customs Officers and others is invited towards the Union Budget 2018-19. Union Budget 2018-19 announced on IA Feb, 2018 has introduced some key change on the customs front. While some legislative changes like duty ledger, system release of goods etc. shall come into effect from a date to be notified, c....

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....the Education cess/SH Education the rate of Social Welfare Surcharge been fixed at 10% by the Finance Bill. 11/2018- Cus and 12/2018-Cus, both dated 02.02.2018 exempt Social Welfare Surcharge on the listed items partially or fully. ICES 1.5 has been updated with all the rates notifications. The system shall levy the default surcharge rate of 10% automatically on all goods. To claim exemption, the ....