The Central Board of Indirect Taxes & Customs (CBIC) issued circular in order to regulate the transportation of goods to and from India through foreign Territory-reg. Such uncommon movements and ineffective regulations are undertaken due to the absence of the bilateral agreements between India and neighboring countries.
The circular was issued in the name of Temsunaro Jamir, Additional Commissioner (ICD) addressing all the principal chief commissioners, principal director-general and principal commissioners of the Customs. The circular contained the specific procedure for the different ways of movements of goods namely:
- India to India movement under ACMP
The movement of goods facilitated by the use of Chattogram and Mongla ports of Bangladesh is expected to effectively decrease the distance for the purpose of transportation and also the time and cost of the goods. Further, the goods which are manufactured and produced in India or those goods which are imported and cleared for home consumption can be moved or transported under the agreement.
- India to India movement under the PIWTT and movement from one part of India to another through a land route which lies partly over the territory of the foreign country
Transportation of goods by the way of inland water transport to and from North East India is expected to effectively reduce the cost of transportation of the bulk cargo.
India and Bangladesh have entered into an agreement for the use of Chattogram and Mongla ports of Bangladesh and this agreement came to be known as ACMP. This agreement consists of Standard Operating Procedure (SOP) which prescribed the documents, time-limit, extension, and movement of goods between India and Bangladesh. Further, it also covers the movement of goods from one part of India to another part or any third country using the territory of Bangladesh.To Read the full text of the Circular CLICK HERE