TaxTMI 
TaxTMI 
TaxTMI 
ICES Advisory on Budget 2021 related changes in EDI System
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....f all the Importers/Exporters, Custom Brokers, CFSs, Custodians, General Trade, Partner Government Agencies (PGAs) and all other stakeholders is invited to ICES Advisory No. 07/2021 dated 02.02.2021 issued by the CBIC on the above subject. 2. Union Budget 2021-22 announced on 1st February, 2021 has introduced some key changes on the Customs front. Changes in the duty structure and introduction of....
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.... customs duty as specified in the said Schedule, for the purposes of financing the agriculture infrastructure and other development expenditure." b) Further, for the calculation for AIDC, sub-clauses (3) and (4) state: "(3) Where the duty is leviable on the goods at any percentage of its value, then, for the purposes of calculating the Agriculture Infrastructure and Development Cess under thi....
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....or the time being in force" d) Necessary changes have been done in the System to include the new levy. AIDC as a duty of Customs will be applicable for all items unless exemption is claimed by relevant notification. For all items falling under the Sl No 1 to 16 of the Notification 11/2021 - Customs dated 01.02.2021, the relevant notification and sl no will have to be mentioned by the importer i....
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....ion: NOTN TYPE as 'E' and Additional Duty Flag as 'A' Necessary changes have also been made in other modules of ICES for facilitating changes in the assessment and duty calculation. g) Further it is clarified in Para I (3) of Annexure C of the letter dated 01.02.2021 issued by JS(TRU-1) that SWS would be levied on AIDC. For the exemption mentioned for gold and silver in the same para, Notifi....