×
Headlines

CBIC waives off Late fees of Rs. 29 Cr pertaining to 7821 Bills of Entry

Bills of Entry - Taxscan

The Central Board of Indirect Taxes and Customs ( CBIC ) has waived off late fees of Rs. 29 crores pertaining to 7821 Bills of Entry(BoE).

In a recent tweet CBIC official handle said that, As a facilitation measure in these difficult times, CBIC has waived off late fee of Rs. 29 crores pertaining to 7821 Bills of Entry, in order to ensure no supply chain disruption of essential goods during COVID-19 lockdown period.

Recently, the Central Board Indirect Taxes & Customs (CBIC) with the objective of priority processing and the refund of all the drawback claims started the “Special Refund and Drawback Disposal Drive” so as to provide the immediate relief to all the business entities, especially MSMEs, in these difficult times.

The CBIC has taken a number of measures to mitigate the hardship caused by the COVID-19 pandemic to the trade and industry and other stakeholders. These measures include 24×7 Customs functioning, single-window helpdesk on the CBIC website, waiver of late fee for delays in filing Bills of Entry, temporarily dispensing with submission of bonds, wherever required, etc. Continuing with these trade facilitation measures, it has now been decided that all pending Customs refund and drawback claims shall be expeditiously processed in order to provide immediate relief to the business entities, especially MSMEs, in these difficult times.

Top