The Central Board of Excise and Customs (CBEC) have issued an advisory on initiatives taken by the Customs department for the reduction in transaction cost.
Firstly, the department has given a relaxation to the Cargo service providers to take insurance cover for goods stored in Customs area for 10 days instead of 30 days.
Further, merchant overtime charges waived for 24*7 locations.
The last one in the list is, the introduction of e-Seal for cargo in place of officer supervised sealing. With a view to bringing uniformity and ease of doing business, the Board decided to implement the e-Seal and issued a circular on July, laying down the procedures relating to factory stuffing hitherto carried out under the supervision of the Central Excise officers.
