TaxTMI 
TaxTMI 
CBIC ABOLISHES LICENCE RENEWAL REQUIREMENT FOR CUSTOMS BROKERS, AUTHORISED CARRIERS
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....BIC ABOLISHES LICENCE RENEWAL REQUIREMENT FOR CUSTOMS BROKERS, AUTHORISED CARRIERS<br>By: - CSLalit Rajput<br>Customs - Import - Export - SEZ<br>Dated:- 28-7-2021<br><br>The Central Board of Indirect Taxes and Customs (CBIC) has w.e.f. 23.07.2021 abolished the requirement of periodic renewals of Licence/Registration issued to Customs Brokers and Authorised Carriers. This would greatly help reduce ....
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....the compliance burden cast on the trade, which had to otherwise make application and submit numerous documents to renew their licenses/registrations. * Effect of this Amendment: The net effect of the amendments carried out to the Customs Brokers Licensing Regulations, 2018 and Sea Cargo Manifest and Transhipment Regulations, 2018, is that the existing licenses/registration would have a lifet....
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....ime validity and also allowed a licensee/registration holder to voluntarily come forward to surrender his license/registration if s/he wishes. * Key Highlights: * A provision has been made to invalidate licences/registrations that are inactivity for more than a year. * These steps would prevent misuse of dormant licences/registrations by unscrupulous person who misdeclare import or export....
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.... or wrongly obtain export refunds/incentives and when caught, put the burden on the original license/registration holder. * The interest of the genuine trade is safeguarded by empowering the Commissioners of Customs to revalidate the licence/registration in case the inactivity is for genuine reasons. * The life-long validity of licenses/registrations is expected to provide a major relief to th....
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....e trade by reducing their compliance burden and promoting the Ease of Doing Business in India. * Removing the requirement of seeking periodic renewals also reduces interface between the Customs and the trade, which is a deliverable of the CBIC's 'Contactless Customs' initiative, a critical component of its flagship Turant Customs programme. The CBIC has amended the Customs Brokers Licensing Reg....
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....ulations, 2018 and Sea Cargo Manifest and Transhipment Regulations, 2018, to state that all such existing licenses/registration would have a lifetime validity. Reply By MANOHARAN ARUMUGAM as = Dear Mr.Lalit, Nice article and informative. However, I have a query i.e. for the licenses issued already, it will have a validity date and year. What will happen after expiry of the validity. Will it au....
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....tomatically has extended life time validity or it should be endorsed by respective customs houses? Regards, Dated: 29-7-2021<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....