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CBEC's new circular to help exporters avoid shipment delays
January, 10th 2011

The Central Board of Excise and Customs (CBEC) has started the New Year with a circular to help the exporters avoid shipment delays even in situations when the Custom suspect or detect mis-declaration of quantity, value and description, unless the export goods are prohibited for exports.

The CBEC circular (no. 1 dated January 4, 2011) says that in case the export goods are suspected of mis-declaration or where declaration is to be confirmed and further enquiry/confirmatory test or expert opinion is required (as in case of chemicals or textiles materials), the goods should be allowed exportation provisionally against a bond for an amount equal to the value of goods backed by appropriate security to cover the redemption fine and penalty (in case goods are found to be liable to confiscation).

The bond for provisional release should contain a clause that finalisation of export incentives shall be done only after receipt of the test report/finalisation of enquiry and final decision in the matter. Export goods detained for purpose of tests etc. must be dealt with on priority and the export allowed expeditiously unless the prohibited nature of goods is confirmed. Continued detention of any export goods in excess of three days must be brought to the notice of the Commissioner of Customs, who will safeguard the interest of the genuine exporters as well as the revenue, says the Circular.

For more information click here

 
 
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