Now CBIC to handle applications for Inland Container Depots, Air Freight Stations

Image
Press Trust of India New Delhi
Last Updated : May 01 2018 | 9:05 PM IST

Applications for setting up of Inland Container Depots (ICDs), Container Freight Stations (CFSs) and Air Freight Stations (AFSs) will now be handled by the Central Board of Indirect Taxes and Customs, according to a government notification.

The move is aimed at promoting ease of doing business at trade front, a commerce ministry official said.

Earlier, the commerce ministry used to handle these applications.

"Henceforth, all applications pertaining to setting up of ICDs/CFSs/AFSs including cases pertaining to extension of time shall be submitted directly to Joint Secretary (Customs), CBIC...for notifying the facility as customs area," the notification said.

The development would help India improve its ranking in trading across borders, one of the ten parameters of ease of doing business.

India ranked 146th in trading across borders component, out of 190 countries ranked by the World Bank in its latest report.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 01 2018 | 9:05 PM IST

Next Story