The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday notified the Sea Cargo Manifest and Transhipment (Third Amendment) Regulations, 2020.
The notification seeks to amend the Sea Cargo Manifest and Transhipment Regulations, 2018.
In the Sea Cargo Manifest and Transhipment Regulations, 2018, in regulation 3, in sub-regulation (1A) for the words, “ten lakhs”, wherever they occur, the words, “five lakhs” shall be substituted.
The board seeks to reduce the bond of rupees “ten lakh” to “five lakhs” in Form- XI or the purposes of filing arrival or departure manifest.
Further in the proviso of the Regulation 3(1A), for the words, brackets, and letters, “Authorised Economic Operator (AEO)”, the words, brackets, letters and figures, “https://www.taxscan.in/tag/aeo/Authorised Economic Operator (AEO) and Customs Broker licensed under the Customs Brokers Licensing Regulations, 2018” shall be substituted.
In regulation 15(1), for the words, figures and letters, “from 15th May, 2020 till 30th September, 2020”, the words, figures and letters, “till 1st November, 2020” shall be substituted;
In regulation 15 (2), for the words, figures and letters, “till 30th September, 2020”, the words, figures and letters, “till 31st March, 2021” shall be substituted.
The Board seeks to extend the timelines in the transitional provisions of the Regulations. The authorized dealer can now deliver the cargo declaration in Form-VIA or Form-VIB and Form-VIIA or Form-VIIB or arrival and departure manifest in Form-VIII or Form-VIIA, from 15th May 2020 till 1st November, 2020.
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