He said that his department wants to upgrade that scheme to an authorised economic operator, a scheme which is running currently, but has not been really successful. “We want to link this with direct port delivery, so that you can remove your goods directly from the port without having to go through a CFS, which might add to cost and delay.”
The Union Budget 2016-17 is aimed to bring the huge chunks of industry including area-based exemptions together with SSI, edible oil, textile sectors and others into the tax net in a most easy manner, a top Finance Ministry official said at an Assocham event in New Delhi. “Out of the GDP Rs 110 lakh crores and manufacturing sector contributing about 17...#
He said that because the customs are at the point of entry and exit, the department tends to get all the blame for reasons like the importer not filing bill of entry, importer wanting to take time to pay duty, importer not producing goods for examination and assessment, this despite the fact that 70 per cent of goods are facilitated, there is no examination or verification done.
“So, we have dovetailed these changes in this broad philosophy, to ensure that goods can be cleared immediately,” Shah said. (SH)
ALCHEMPro News Desk – India
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