TaxTMI 
TaxTMI 
Clarification regarding legislative changes in the provisions of Section 46 and 47 of the Customs Act, 1962
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....e changes in the provisions of Section 46 and 47 of the Customs Act, 1962 -Reg. Attention of all the Custom House Brokers, Exporters/ Importers, Trade, Customs Staff and Stakeholders is invited to the legislative proposals made in the Finance Bill, 2017 concerning changes in the provisions of Section 46 and 47 of the Customs Act, 1962. The changes have come into effect wef 31.3.2017 with the enac....
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....aircraft or vessel or vehicle carrying the goods arrives at a customs station at which such goods are to be cleared for home consumption or for warehousing. The free period for filing a BOE is up to the end of the next day following the day (excluding holidays) of arrival of goods at the place where the clearance for home consumption or warehousing is to take place. 4. In this regard, Board has a....
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....regoing, for clearances at ICDs, date of arrival of cargo is critical for determining late charges. Board has, therefore, made amendment in the Handling of Cargo in Customs Areas Regulations, 2009 so as to make it mandatory for the Customs Cargo Service providers to provide the information about arrival of cargo to the Customs. [Notification No. 24/2017-Customs (N. T) dated 31.03.2017 refers]. 6.....
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.... an importer to pay customs duty from the time of return of bill of entry. The implication of proposed amendment is that the importer shall have to make payment of duty on the same day in case of self-assessed BOE and in case of re-assessment or provisional assessment, within one day after the return of BOE. In this regard, it is further clarified that: 8. All BoEs filed before the enactment of F....