ADVISORY HAS BEEN ISSUED BY THE CBIC FOR THE IMPORTERS ON THE ICGR RULES

The Central Board of Indirect Taxes and Customs (CBIC) has decreased the compliances necessary under the Customs (Import of Goods at Concessional Rate of Duty-IGCR) Rules, 2017 and established end-to-end automation of the procedure involved, which is a crucial step towards Atmanirbhar Bharat. The website www.icegate.gov is now operational. Importers that want to take advantage of exemptions related to these Rules can do so today by registering on the portal.

The rules outlined above include procedural protections to ensure that goods imported at a reduced tariff rate, subject to an end-user requirement, are used for the purpose mentioned in the exemption notification. The procedures were simplified and made paperless and contactless with end-to-end automation based on feedback from the industry. The following is a list of the modifications that have occurred:

  • All exemption notifications can be submitted electronically using a single portal that has been made public.
  • The different forms that need electronic submission of information have also been standardised and made public.
  • Transaction-based permissions and intimations, which were previously a part of the procedures, have now been removed.
  • Furthermore, importers have been offered the option to continue using the old system until March 13, 2022, in order to make the changeover as easy as possible.

TO READ THE OFFICIAL NOTIFICATION CLICK HERE

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