Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 notified vide Notification 74/2022 dated 9th September, 2022

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....IC Madam/Sir, Subject: Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 notified vide Notification 74/2022 dated 9th September, 2022- regarding Reference is drawn to the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 (hereinafter referred to as IGCRS Rules, 2022) notified vide Notification No.74/2022-Customs (N.T.) dated 09.09.2022 superseding the existing Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017. These rules have come into effect from 10th September 2022. 2. CBIC had earlier introduced significant changes simplifying and automating the procedures in the (Import of Goods at Concessional Rate of Duty) Rules) IGCR, in ....

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....cations, i.e. apart from those pertaining to manufacturing and in respect of those for providing output services. In case of end use, supply to the end use recipient and the nature of the supply is to be captured in the IGCR automated module. d. Changes in the forms to capture the details where intended purpose is the export of goods using the goods imported. e. Corresponding changes in the forms to better capture the different intended purposes (manufacturing, import for specified end use, export of goods using goods imported, supply to end use recipient or for provision of output service) and additional details such as Sl.No. of the Notification etc. f. In Rule 13 of IGCRS Rules, 2022, it is mentioned that refer....

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....orter's control. 4.2 Specified End Use: IGCRS Rule, 2022 is also expanded to include cases where the intended purpose is for putting the goods imported to specified end use and not necessarily manufacturing or for providing output services. In this regard, it is clarified that: a. Procedure of intimation, generation of a unique IGCR Identification Number (IIN), import of the goods, submission of bond, maintenance of records, filing of monthly statement or any other procedures remains the same. The Importer shall undertake compliance to the officer having jurisdiction over primary address specified in the Importer Exporter Code (IEC) issued by DGFT. b. End use may be specified by a notification under sub-section (1) o....

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....sh security/surety shall be taken as per the following norms for the purpose of extending the benefit under the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022. It is also clarified that the circular No. 48/2017-cus and the circular No. 27/2016-cus stands modified to this extent - Sl.no.   Category of importer   Quantum of Bank Guarantee/Cash security/Surety   1 All importer (s) who are either a department of Central Government or a State Government or a Union Territory or a Public Sector Undertaking, or an autonomous institute under the said governments. Bank Guarantee/Cash Security-Nil Surety-Not required. (excluding cases in sl.no. 4) 2 All ....

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....than 5% of bond debit value* shall be furnished. (excluding cases in sl.no. 4) 6 Importers not covered under sl.no 1,2,3,4 or 5 above Bank guarantee/Cash security- not more than 25% of the bond debit value*. * Bond debit value - Duty foregone in case of concessional rate and assessable value of the goods in other cases. 4.4 UAE - CEPA: The Import of Gold under the India-UAE CEPA notified vide Notification 22/2022-Customs dated 30-04-2022, as amended by Notification 43/2022 dated 20-07-2022 prescribes Tariff Rate Quotas (TRQ) and following of IGCR Rules 2017. In this context, it is clarified that: (i) The Importer (in most cases, the nominated agencies) shall follow IGCRS Rules, 2022 for import of gold under the....

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....been met, if the Bond / BG prescribed under IGCR is already furnished to the jurisdictional Customs officer. The norms for BG will continue to be governed by para 6 (ii), (iii) and (iv) of Circular 27/2016 - Customs. II. The importer shall maintain the records and submit monthly statement on the common portal. III. The end use recipient in these cases would be an exporter. IV. In case of supply against replenishment or for export against supply, the end use recipient shall also maintain relevant records and make it available to the jurisdictional Customs officer and importer. V. The restrictions on job work shall only relate to a case where it is undertaken on the goods belonging to importer and shall not....