CBIC Introduces Automation for EOUs under Customs Concessional Duty Rules

By: Admin | September 18, 2024 | Categories: Important Announcements | 3 Min Read

The Central Board of Indirect Taxes and Customs (CBIC) has issued a circular regarding the automation of the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022, specifically for Export Oriented Units (EOUs). This automation will be effective from September 25, 2024.

Key Highlights:

• The automation aims to streamline the process for EOUs importing goods at concessional duty rates under these rules.
• The shift to a digital system is expected to improve compliance, reduce manual interventions, and enhance transparency in the import procedures.
• Detailed guidelines on navigating the automated system, required documentation, and procedures for claiming concessional rates are provided in the circular.

Stakeholders and EOUs are urged to familiarize themselves with the new system before the implementation date to ensure a smooth transition.

For complete details, visit the official CBIC website or government portals to download the circular.

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