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The Customs department has come out with norms for dealing with export cargo returning to Indian ports due to the closure of the Strait of Hormuz and disruptions in maritime routes amid the West Asia crisis. The norms, issued by the CBIC on March 8 and to be valid for 15 days, stipulate that in all such cases the vessel shall be permitted to berth only at the same Indian port from which it departed, except in the case of transhipment. The field offices under the Central Board of Indirect Taxes and Customs (CBIC) will recover all export incentives, including IGST, drawback, etc., manually from such cargo, if they have already been disbursed, said the CBIC circular. The CBIC said it has received representations from field formations indicating that, due to the closure of the Strait of Hormuz and the consequent disruption in maritime routes, certain vessels carrying export cargo from India are unable to reach their destination ports and are returning to Indian ports. It has been ...
The Central Board of Indirect Taxes and Customs (CBIC) is set to introduce the proposed Eligible Manufacturer-Importer scheme by March 1, with a draft framework to be released in five to six days for stakeholder consultation, a top official said on Thursday. Addressing a media interaction in Mumbai, CBIC Chairman Vivek Chaturvedi said the scheme will initially be introduced for two years, offering eligible manufacturer-importers a "preview" of the benefits under the new framework. Manufacturers, who are not currently Authorized Economic Operators (AEOs), will receive benefits under this scheme for a period of two years, during which they must comply with the prescribed norms to obtain AEO certification, officials clarified. The government is currently working on finalising the eligibility criteria through an internal committee, and detailed contours of the scheme will be shared soon for public feedback. Chaturvedi indicated that the EMI scheme is aligned with the broader push towar
Reduction in customs duty on imported cars under the India-EU free trade agreement could enable the growth of the luxury car segment in India, which currently remains minuscule, BMW Group India President and CEO Hardeep Singh Brar said on Monday. The domestic luxury car segment accounts for just 1 per cent of the overall passenger vehicle segment. The India-EU Free Trade Agreement would be a historic milestone benefiting both sides by expanding trade and enabling deeper exchange of technology and innovation, Brar said in a statement. "From an automotive industry perspective, we hope the FTA will include balanced, win-win provisions that help stimulate demand in the luxury segment while strengthening supply chain integration which is especially important in the current geopolitical context," he added. If customs duties on completely built units are reduced, it would help expand the luxury car market in India, Brar stated. "While CBUs (completely built units) currently account for a
The Customs department at the Kempegowda International Airport on Friday issued a high alert for the public after detecting a fraud racket in which impostors posing as Customs officials are cheating people and extorting money from them. According to the Customs, fraudsters are targeting innocent citizens, particularly those from the economically weaker sections, by exploiting their fear and urgency through phone calls, social media and messaging platforms. The scammers falsely claim that a passenger arriving from abroad has been detained by Customs and demand immediate payment to resolve the issue. Warning the public against falling prey to such tactics, the Customs commissioner said, Customs officials never contact people via phone, WhatsApp, or social media to demand payments of fines or penalties. Moreover, we do not accept money into personal bank accounts. All official payments to the government are made only through authorised counters or online portals with proper ...
The Delhi High Court on Friday sought a response from the Customs department on a plea by InterGlobe Aviation, which operates the IndiGo airline, seeking a refund of more than Rs 900 crore paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs. A bench of Justices V Kameswar Rao and Vinod Kumar issued the notice to the deputy commissioner (refund), office of the principal commissioner of Customs, Air Cargo Complex (Import), and asked the authorities to file a counter affidavit within two weeks. The court listed the matter for next hearing on April 8, 2026. InterGlobe, in its plea, contended that the levy of Customs duty on such re-imports was unconstitutional and amounted to double levy on the same transaction. The counsel for the Customs opposed the plea, claiming it is pre-mature and that the issue based on which the present claim has been filed is pending before the Supreme Court. The counsel said the Supreme Court has not passed any st