Friday, October 22, 2021
Home Business Concessional obligation: CBIC amends guidelines

Concessional obligation: CBIC amends guidelines

Importers profiting from concessional charge of import obligation should give prior data to the customs officers about items being imported and likewise its estimated amount and worth, the CBIC has stated.

The Central Board of Oblique Taxes and Customs (CBIC) has amended the Customs (Import of Items at Concessional Price of Responsibility) Modification Guidelines, which lay down the procedures and method by which an importer can avail the good thing about a concessional obligation on import of products required for home manufacturing of products or offering companies.

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