The Economic Survey 2023 projected changes in Customs Law and Procedures.
The Economic Survey showcased that:
● As a trade facilitation measure, the validity of e-scrips issued under the Electronic Duty Credit Ledger Regulations, 2021, was increased from one year to two years from the date of their generation. Further, the recovery provisions from the transferee holder of the e-scrips (issued under RoDTEP and RoSCTL schemes) and suspension of its credit account were also been omitted.
● In order to leverage the vast network of post offices across the country and enable MSME’s (Micro Small and Medium Enterprises) to export to global markets using e-commerce or other regular channels, the CBIC in collaboration with the Department of Posts (Dop) notified the Postal Exports (Electronic Declaration and processing) Regulations, 2022.
● Circular No.8/2022-Customs dated 17.5.2022 was issued to enable exports from Bangladesh to India by rail in closed containers, with clearance at hinterland ICDs. A trans-shipment module has also been developed in the Indian Customs EDI system to digitise the procedure and hence would decongest the border trade points and facilitate Bangladesh’s exports.
● Vide Circular No. 17/2022-Customs dated 9.9.2022, CBIC has enabled export of containerised cargo from any inland Container Depot (ICD) to Bangladesh using a combination of rail/ road route and riverine route.
● With a view to leveraging the potential of inland Waterways for enhancing trade and transit, CBIC has allowed movement of containerised export goods of Bangladesh through India using a combination of riverine and rail routes. This facility, allowed vide Circular No. 19/2022-Customs dated 14.9.2022, involves entry of containerised cargo on a barge/vessel from Bangladesh into India up to the sea port of Kolkata or Haldia using the riverine route.
● Vide Circular No. 09/2022-Customs dated 30.6.2022, CBIC has put in place a simplified regulatory framework for e-commerce exports of jewellery via international Courier Terminals (ICTs). The simplified framework is applicable on e-commerce export of jewellery made of precious metals (whether or not studded or set with precious or semi-precious stones). This reform is aimed at supporting the Make-in-India brand in the international markets and enhancing the competitiveness of Indian jewellery exports leveraging the rapidly evolving global e-Market space.
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