Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: TDS :: articles on VAT and GST in India :: cpt :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
 
 
« Latest Circulars »
 Auction of Government of India Dated Securities May 22, 2017
  Direct Recruitment of ‘Chief Financial Officer’ in the rank of Executive Director in Reserve Bank of India
 A Call for Enterprise in Economic Data Generation and Information Analytics - Dr. Viral V Acharya, Deputy Governor - May 19, 2017 - Presentation at the 9th Indian Chamber of Commerce Banking Summit, Kolkata
 Reserve Bank of India Outlines the action plan to implement the Banking Regulation (Amendment) Ordinance, 2017
 RBI to conduct 7 day, 14 day and 28 day Variable Rate Reverse Repo Auctions under LAF on May 18, 2017
 RBI to conduct 7 day, 14 day and 28 day Variable rate Reverse Repo auctions under LAF on May 17, 2017
 RBI-Direct Recruitment of ‘Chief Financial Officer’ in the rank of Executive Director in Reserve Bank of India
 Auction of Government of India Dated Securities May 15, 2017
 Direct Recruitment of ‘Chief Financial Officer’ in the rank of Executive Director in Reserve Bank of India
 RBI to conduct 7 day Variable Rate Reverse Repo Auction under LAF on May 15, 2017
 GST implementation to have far reaching implications for the Indian Economy RBI releases State Finances: A Study of Budgets of 2016-17

Regarding review of Accredited Clients Programme (ACP)
December, 23rd 2014

Circular No. 18/2014-Cus

F.No.450/90/2010-Cus.IV

Government of India

Ministry of Finance

Department of Revenue

(Central Board of Excise & Custom)

 

New Delhi, dated the 22nd December, 2014

To

All Chief Commissioners of Customs/Customs (Prev.)

All Chief Commissioners of Customs & Central Excise

All Commissioners of Custom /Customs (Prev.)

All Commissioners of Customs & Central Excise

All Directors General under CBEC.

 

Subject:  Review of Accredited Clients Programme (ACP) - Reg.

 

Sir / Madam,

 

Attention is invited to Board’s Circular No.42/2005-Cus. dated 24.11.2005 and Circular No.29/2010-Cus dated 20.08.2010 on the Accredited Clients Programme (ACP).

 

2.         Board has received a number of representations from the ACP clients whose ACP status has either been withdrawn or not extended on account of them having been served a show cause notice in terms of the amended para 7(iii) of the said Circular dated 24.11.2005.   Board observes that on account of such withdrawal or non-extension of the ACP status, the imports of the affected ACP clients are no longer facilitated which reduces the overall facilitation levels. This matter was also discussed during the All India Conference of Chief Commissioners of Customs held in October, 2014 and a view emerged that there is justification to review the ACP to allow a graded re-entry.

 

3.         Board has reviewed the ACP on the basis of the representations received and the recommendation of the Chief Commissioners of Customs. Accordingly, it is decided that as a trade facilitation measure the ACP status of ACP clients which has either been withdrawn or not extended on account of them having been served a show cause notice in terms of the amended para 7(iii) of the said Circular dated 24.11.2005 may be restored as follows:

 

(i)   Restored after 3 months if the entity pays the duty demanded with interest and 25% penalty within 30 days of the Show Cause Notice or if the entity’s application is allowed to be proceeded with by the Settlement Commission.

 

(ii)   Restored after 6 months if the entity pays the duty demanded with interest.

 

The restoration of the ACP status in terms of (i) and (ii) above would be subject to the condition that if another case of the type mentioned in paragraph 7(iii) of the said Circular dated 24.11.2005 is booked within the 3 months or 6 months period, as the case may be, against the said entity the period of exclusion would be 1 year.  If another (or more) case(s) is booked during the 1 year period, the exclusion period would be 3 years.

 

4.         Board has also decided that the ACP status would not ordinarily be denied to an entity if, in the category of cases specified above, the Customs/Central Excise duty or Service Tax involved is up to Rs. 50 lakhs and Rs. 25 lakhs, respectively.

 

5.         Board also desires that outstanding disputes with ACP clients that are pending in adjudications and appeals shall be expeditiously finalized. Furthermore, in order to encourage greater participation in the ACP, the Risk Management Division (RMD) shall suo moto identify importers eligible for the ACP and approach them to enroll in the programme on 6-monthly basis.

 

6.         Board’s Circular No.42/2005-Cus. dated 24.11.2005 and Circular No.29/2010-Cus dated 20.08.2010 stand modified to the aforementioned extent.

 

7.         Chief Commissioners of Customs / Customs and Central Excise are requested to issue suitable trade notice/ Public notice for guidance of trade/staff.

 

8.         Difficulty faced, if any, may be brought to the notice of the Board.

 

 

Yours faithfully

 

(P.K. Khetan)

OSD (Cus.IV)

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions