TMI BlogClarification regarding legislative changes relating to Customs Act, 1962 proposed in the Finance Bill, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... gislative changes relating to Customs Act, 1962 proposed in the Finance Bill, 2017-reg. Attention of all Importers, Exporters, Customs Brokers, Custodian and members of Trade is invited to CBEC Circular No. 12/2017-Customs dated 31.03.2017 Changes in Section 46 of the Customs Act 2. The amendments in the section are aimed at prescribing a late charge for delayed filing of Bill of En ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rts and date of arrival of cargo at the ICD, airports, Land Customs stations etc would be the relevant date for determining the said charges, if any. It has also been clarified in both the regulations that no charges for late presentation of Bill of Entry shall be liable to be paid where the goods have arrived before the enactment of Finance Bill, 2017. [Notification No. 26/ 2017-Customs (N.T) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r waiver of late charge under second proviso to sub-section (3) of section 46. Board expects that this power is invoked in cases where there is no wilful delay in filing the BOE so that waiver is granted only in bonafide cases. [Notification No. 25/2017-cus (N.T) dated 31.03.2017 refers]. Changes in Section 47 of the Customs Act 6. Sub-section (2) of section 47 is being amended so as to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovisional assessed on or after the said enactment, the importer shall have one day (excluding holidays) instead of two days for payment of duty. BOES filed on the date of enactment or thereafter shall be subject to the new provisions. 7. If any difficulty is foreseen or arises out of the implementation of this notice, the same may be brought to the notice of the undersigned. (P. V. R. Redd ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
