Prior Entry for Bill of Entry

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..... date of presentation of Bill of Entry. 9.2 Often, goods coming by container ships are transferred at intermediate ports (like Colombo) from mother vessel to smaller vessels called feeder vessels. At the time of filing of advance Bill of Entry, the importer does not know which vessel will finally bring the goods to Indian port. In such cases, the name of mother vessel may be filled in on the ba .....

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..... ate of rupees ten thousand per day for each day of default thereafter. [Refer Notification 26/2017-Cutoms (N.T.) dated 31.03.2017 ] 9.5 Section 46 of the Customs Act, 1962 has been amended vide the Finance Act, 2021 . These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Custom .....

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..... exceptions, as notified, the BE can now be filed anytime from 30 days prior to the expected arrival of the aircraft or vessel or vehicle upto the end of day preceding the day of such arrival. [Refer Circular No. 08/2021-Cutoms dated 29.03.2021 ] - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxmanagementindia - taxmanagement - ta .....

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