TaxTMI 
TaxTMI 
TaxTMI 
Changes introduced through the Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021
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....ustoms (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021- reg. Reference is drawn to the Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021 notified vide Notification No. 09/2021-Customs (N.T.), dated 02.02.2021 so as to make certain amendments in existing Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 (hereinafter referred to as "IGCR Rules, 2017") that took effect from 2nd February, 2021. 2. The aforementioned Amendment Rules have been introduced in view of the demands from the trade and industry and having regard to their changing needs as per prevalent global practices. The amendments are also an effort towards creating an enabling environment for the promoting manufactu....
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....th uniformity in the procedures for end-use based exemptions, the condition of compliance of the said IGCR Rules, 2017 is being provided for certain entries and these have already been notified by amending the said Notification. 4. Procedure to be followed by an importer For the sake of clarity, the procedure set out in the IGCR Rules, 2017 is summarised as follows: One time - Prior Intimation of intent to avail IGCR Benefit: 4.1 An importer who intends to import goods at a concessional rate of duty shall give a one-time prior information of such goods being imported to the Customs Officer under whose jurisdiction, his premises fall (jurisdictional Customs Officer). He shall also furnish - (a) the name and address of the premises o....
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....port of import: 4.4 The importer shall also provide a copy of the intimation provided to the jurisdictional Customs Officer (refer para 4.3 above) to the port of import. It is clarified that, for this purpose it is sufficient to upload such intimation copy on e-Sanchit and link the same along with the other documents when filing the bill of entry. On this basis, the goods shall be allowed clearance at a concessional rate of duty. Receipt of goods at premises of importer/job worker: 4.5 The receipt of the imported goods is to be intimated to the jurisdictional Customs Officer. It is clarified that, goods may also be sent directly to the premises of a job worker and in such cases, importer shall intimate by email such receipt of goods t....
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....orker shall be six months from the date of issue of challan. Receipt of goods from the job worker: 4.10 After the completion of job work, there can be three instances- (a) the goods are received back in the premises of the importer, or, (b) the goods are cleared directly from the premises of the job worker, or (c) the goods are sent by the job worker to another job worker. In the first two instances (a) and (b), the same may be updated in the account maintained by the importer and subsequently shown in the quarterly returns [refer rule 6(2) and rule 6(3) and paras 4.14 and 4.15 below]. In the third instance (c), the goods may be sent to another job worker against a challan. As against the challan number with which the goods we....
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....e form provided in the annexure to the said IGCR Rules, 2017- (a) Description of goods imported; (b) Opening balance of goods at the beginning of the quarter; (c) Details of goods imported, consumed, re-exported or cleared in the quarter including - (i) the quantity and value of goods imported (ii) the quantity of goods consumed for intended purpose (iii) quantity of goods sent to job worker (iv) quantity of goods received from job worker (v) quantity of goods re-exported (vi) quantity of goods cleared in domestic market (vii) closing balance at the end of the quarter (d) specified purpose for import of goods at concessional rate; (e) goods manufactured or output service provided in the quarter; (f) whether goods w....