14 January, 2015
Central Board of Excise and Customs has last month given some major relief to Indian exporters and importers in terms of procedures to be followed while making imports and exports. While Packing list is not mandatory now, benefit of exemption from bank guarantee has been made available to authorization holders who were penalized earlier. Benefit of ACP status has also been fu...
By V. Sridhar
In the Budget of 2011 changes were made in the Customs Act, 1962 so as to introduce a new concept of self-assessment and post-clearance audit. This article briefly analyses the new provisions, their implications to the revenue administration and to the community of importers and exporters.
Before getting into specifics, it would be useful to refer to a trend that has been e...
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