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Union Budget 2025-26 (Full) + Finance Bill, 2025
VIII. Changes to IGCR (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 2017
Rules 6 and 7 are being amended to increase the time limit for fulfilling end use from current six months to one year. Further, the importers will now have to file only a quarterly statement instead of monthly statement.
Full Text:
Import compliance timeframe extended; end use period lengthened and reporting shifted to quarterly filings under IGCR amendment. Amendments to the IGCR Rules extend the period to fulfil the specified end use under Rules 6 and 7 and change the compliance reporting requirement so importers submit a quarterly statement instead of a monthly statement, thereby adjusting both the end use timeframe and the frequency of filings for imports at concessional duty for manufacture of excisable goods.Press 'Enter' after typing page number.
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