CBEC enumerates Customs Initiatives for Reduction in Transaction Cost
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...
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.
