CBIC’s Customs Reforms and Advancements in 2024: Strengthening Transparency, Ease of Doing Business, and Compliance
By: Admin December 25, 2024 Categories: CBIC | Press Release Read Time: 4 Min
The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, continues to drive citizen-centric initiatives in 2024. Through these efforts, CBIC delivers reforms that enhance transparency, ease of doing business, and compliance. Notably, key developments include rationalization of Customs duty rates, decriminalization measures, and technological advancements such as ICEGATE 2.0 and the Anonymised Escalation Mechanism.
Moreover, these innovations, combined with infrastructural upgrades like pre-gate processing facilities and modernized control laboratories, clearly signify CBIC’s commitment to modernization and taxpayer empowerment.
Key Customs Reforms and Achievements in 2024
1. Budget 2024-25 Customs Duty Announcements
Firstly, reductions in Basic Customs Duty (BCD) have been implemented. For example, the BCD on Shea Nuts has been reduced to 15%, while critical minerals and shrimp feeds enjoy nil or reduced rates. Conversely, certain duties have increased, such as the BCD on ammonium nitrate, which was raised to 10%, and PVC flex films, now at 25%. Additionally, cancer drugs like Trastuzumab Deruxtecan have been fully exempted, ensuring affordability for critical treatments.
2. Promoting Compliance and Governance
To promote compliance, CBIC has introduced several governance measures. For instance, election guidelines were issued to curb illegal activities during elections (Instruction No. 06/2024). Furthermore, CBIC has emphasized cultural preservation by handing over 101 seized antiquities to the ASI, highlighting Customs’ significant role in protecting heritage.
3. Enhanced Export and Import Facilitation
Significant advancements have been made to facilitate exports and imports. For instance, RoDTEP benefits for SEZs and EOUs were extended through Notification Nos. 20/2024 and 50/2024. In addition, the Duty Drawback Automation system, based on PFMS, ensures transparent and faster disbursals (Instruction No. 15/2024). Importantly, ICEGATE 2.0 has been upgraded, providing seamless document filing and an enhanced user experience.
4. International Collaborations and Agreements
CBIC has signed MoUs with countries such as Madagascar, Belarus, Vietnam, and New Zealand. Consequently, these agreements strengthen capacity building and foster cooperation in Customs matters.
5. Women in Trade Initiatives
Recognizing the need for inclusivity, Circular No. 2/2024 mandates representation of women in trade meetings. Additionally, dedicated help desks and training programs have been established to support women in trade.
6. Advanced Technologies
CBIC has implemented cutting-edge technologies to improve efficiency. For example, ICETAB allows real-time examination and transparent reporting through mobile devices (Circular No. 10/2024). Simultaneously, exchange rates are now published digitally twice a month on ICEGATE (Circular No. 07/2024), ensuring greater accuracy and accessibility.
7. Expanded Export Benefits
Lastly, export incentives like Duty Drawback and RoDTEP have been extended to courier exports via ECCS (Notification No. 60/2024), thereby broadening the scope of export benefits.
Why It Matters
In summary, CBIC’s 2024 reforms align with India’s vision for a modernized trade ecosystem. By leveraging technology and fostering international collaboration, CBIC not only drives growth but also ensures compliance and inclusivity. These initiatives clearly demonstrate CBIC’s dedication to creating a transparent and efficient trade environment.
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