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Budgetary change

Customs - D.O.F. No.450/10/2017-Cus lV - Dated:- 3-2-2017 - GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE & CUSTOM D.O.F. No.450/10/2017-Cus lV North Block, New Delhi -110001 Dated 03/02/2017 Tel : +91-11-23092230 Fax: +91-11-23093106 Dear Chief Commissioner As you are aware, Finance Minister has presented the Union Budget and introduced the Finance Bill, 2017 in the Parliament on 1.2.17. Apart from the duty rate changes, there are many proposals conce .....

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ted so as to make it mandatory to file a Bill of Entry before the end of the next day following the day (excluding holidays) on which the vessel or aircraft or vehicle carrying the goods arrives at a customs station at which such goods are to be cleared for home consumption or warehousing and to provide for imposition of such charges for late presentation of the bill of entry as may be prescribed. b. Sub-section (2) of Section 47 is being amended so as to provide the manner of payment of duty an .....

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the duty actually payable is reflected in the reassessed bill of entry in the case of reassessment. 3. I am sure by now you must have gone through all the provisions of the Finance Bill, 2017 very carefully and realised the significance of these changes. 4. These proposals are of far reaching impact and would take the force of law immediately upon the enactment of the Finance Bill. Given the fact that the legislative process affords us sometime before the Parliament enacts the Bill, therefore, .....

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is that the provision of advance/ prior filing of bill of entry is not being fully utilised. Similarly, even after arrival of goods, statistics have revealed that the bill of entry is not being filed expeditiously. The amendment in section 46 is to address these issues. The change in section 46 is to make it mandatory to file the bill of entry by the end of the next day on which the goods arrive at any customs station at which they are to be cleared. In other words, if the clearance is to take p .....

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he rate of duty applicable for advance bills of entry. By virtue of the proposed changes in the Section 46, the entry inward has become important because default in compliance with the new provision would result in late charge. While entry inward is there in sea ports and airports, in ICDs cargo arrival report (CAR message) is available to record the time of arrival of cargo. However, the cargo arrival report is not operational in all ICDs. It is imperative to make it operational before the asce .....

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