News & Alert
CBEC circular 11 of 2017 which covers refund, demand, adjudication, review etc...
This circular is giving clarity on who would be the appropriate authority, the Development Commissioner or the jurisdictional Customs Authority to raise demand of duty, if need arises, in respect of un-utilized capital goods / raw materials by a unit in case it exits / opts out of the SEZ.
This circular further clarifies that all new cases of refund, demand, adjudication, review and appeal are to be made by the concerned jurisdictional authorities of Customs, Central Excise and Service Tax under the provisions of the respective Acts. Also, with the coming into effect of the GST laws in the near future, apart from jurisdictional Customs Commissionerates, the jurisdictional GST Commissionerates will be responsible in respect of these functional operations with effect from the day GST is rolled out.
CBEC notification 26 of 2017 regarding charges applicable against late filing / presentation of BoE
CBEC has issued Customs notification 26 of 2017 which states that the importer or their CHA should present the bill of entry for home consumption or bond before the end of two working days of Vessel or Flight arrival.
• Will If the Bill of Entry is not filed within the time specified then the importer is liable to pay charges for late presentation of the bill of entry at the rate of rupees five thousand per day for the initial three days of default and at the rate of rupees ten thousand per day for each day of default thereafter:
This means BoE is to be filed in advance or in first two days of Vessel or Flight arrival and third day on wards charges of Rs. 5,000.00 per day would be charged for three days and fourth day on wards charges would be increased to Rs. 10,000.00 per day.
There is exception / exemption to this charge in case if the Importer proves genuine reason for delay in filing of the BoE and the jurisdictional officer accepts the reason.