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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 - Customs - 18/2022

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..... 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 short, vide Notification 09/2021-Customs (N.T.) dated 01.02.2021 followed by Circular 10/2021 dated 17.05.2021 and Notification 07/2022-Customs (N.T.) dated 01.02.2022 followed by Circular 04/2022 dated 27.02.2022. The online functionality has also been made available on the ICEGATE P .....

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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 - Customs

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..... ose 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 reference in any rule, notification, circular, instruction, standing order, trade notice or other order in pursuance of the Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules,1996 and any provision thereof or to the Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisab .....

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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 - Customs

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..... ication 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) of section 25 or under section 11 of the Customs Act,1962. c. Where the import is undertaken for a specified end use and no differential duty is involved, the value of the bond shall be equal to the assessable value of the goods. d. In cases where the intended purpose of import is supply of the goods to an end use recipient, the importer shall supply these goods un .....

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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 - Customs

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..... 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 importers who are Authorized Economic Operators. 3 All importers who are nominated agencies for the import of gold under the India UAE CEPA 4 Designated banks nominated by RBI as well as public sector undertakings importing under Notification no. 56/2000-customs, dated 05.05.2000 or Notification no. 57/2000-customs, dated 08.05.2000 Bank Guarantee/Cash Security-Nil Surety-Not required Provided- a. they have not defaulted in following the procedure and conditi .....

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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 - Customs

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..... riff 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 UAE - CEPA and supply the gold to end use recipients who are TRQ holders. (ii) The importer, having provided a one-time intimation in Form IGCR-1 at the common portal, can generate an IIN number and undertake multiple imports against the same. The procedure is already elaborated in the above-referred circulars. The details of end use recipient may be mentioned in IGCR-1. (iii) Imports pertaining to multiple TRQ holders can be clubbed together and imported in a single lot. However, it is to be ensured that when filing the bill of en .....

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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 - Customs

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..... restrictions on job work shall only relate to a case where it is undertaken on the goods belonging to importer and shall not apply to the end use recipient who receives the goods on the supply and deals with it as stipulated in the notifications. For the sake of clarity, it is reiterated that the end use recipient i.e. exporters, who are receiving supply from the importers, are allowed to send the goods to the job worker for further processing. 4.6 Other changes: As a trade facilitation measure, a new Form IGCR-3A has been notified for confirmation of consumption for intended purpose at the common portal at any point in time for immediate re-credit of the bond by the jurisdictional AC/DC, without waiting for the filing of monthly statement .....

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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 - Customs

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