New Delhi, April 10 (IANS) The Government of India is continuing its proactive and coordinated response to the evolving situation in West Asia, with the Commerce and Shipping Ministries convening high‑level stakeholder consultations to address emerging logistics, packaging, and shipping‑related challenges impacting India’s trade and export ecosystem, according to an official statement issued on Friday. Two important meetings were held, one under the chairpersonship of the Commerce Secre…
Latest Central Board of Indirect Taxes and Customs News & Updates
New Delhi, March 31 (IANS) The Central Board of Indirect Taxes and Customs has operationalised comprehensive reforms to streamline e‑commerce exports and courier-based trade, including the removal of the Rs 10 lakh value cap per courier consignment, the government said on Tuesday.The reforms, effective April 1, are expected to significantly boost exports, especially for e-commerce exporters, by allowing greater flexibility in shipment value and enabling seamless exports through the courier mod…
New Delhi, March 28 (IANS) The Central Board of Indirect Taxes and Customs held a hybrid outreach programme on the Duty Deferment Scheme for eligible manufacturer importers to speed clearances, an official statement said on Saturday.The statement from the Ministry of Finance said the scheme allows eligible manufacturer importers to clear goods without upfront duty payment and to pay duties on a monthly basis.Customs officials, representatives from trade bodies, industry, and key stakeholders par…
New Delhi, March 18 (IANS) The government has rolled out a set of customs and logistics facilitation measures to help exporters handle cargo that has been stranded or returned due to the closure of the Strait of Hormuz amid the ongoing Middle East conflict.The measures allow exporters to bring back cargo into the domestic system while easing storage and handling costs, as shipping lines suspend bookings and Gulf ports operate under restrictions due to the Iran war. The steps are aimed at prevent…
New Delhi, March 8 (IANS) The Central government has relaxed customs procedures for export cargo that is returning to India after ships were forced to turn back due to disruptions in key maritime routes, including the closure of the Strait of Hormuz.The move comes after several vessels carrying Indian export consignments were unable to reach their destination ports because of the ongoing disruptions in the region.As a result, some ships have returned to Indian ports with cargo that had already b…
New Delhi, Feb 26 (IANS) The Central Board of Indirect Taxes and Customs (CBIC), along with the Permanent Mission of India to the WTO in Geneva, organised special sessions on trade on the sidelines of the meeting of the Committee on Trade Facilitation at the World Trade Organisation (WTO) in Geneva, according to an official statement issued on Thursday.The event on Tuesday comprised two focused sessions on trade facilitation and capacity building, highlighting India’s transformative reforms un…
Mumbai, Feb 11 (IANS) India has significantly bolstered its international enforcement architecture against smuggling with 42 mutual customs cooperation agreements signed and 21 more under negotiation with major trading partners, experts said on Wednesday.Mohan Kumar Singh, Member–Compliance Management, Central Board of Indirect Taxes and Customs (CBIC), said that enforcement must move beyond event-based seizures to network-based disruption, the statement from FICCI said.Addressing an event by …
Amaravati, Feb 4 (IANS) Andhra Pradesh Chief Minister N. Chandrababu Naidu on Wednesday welcomed the Central Government’s decision to reduce the excise duty on unbranded raw tobacco products to zero.He said that the move will benefit the unbranded tobacco trade in the state.According to an official release, the state government has taken note of the gazette notification issued by the Central Finance Ministry in this regard.The Finance Ministry issued this gazette clarifying the duty structure ap…
New Delhi, Jan 19 (IANS) More than 3.96 lakh MSME loan applications amounting to more than Rs 52,300 crore have been sanctioned by the Public Sector Banks (PSBs) under the digital credit underwriting programmes (between April 1 and December 31, 2025), the government said on Monday.The PSBs launched Credit Assessment Model (CAM) based on digital footprints for Micro, Small and Medium Enterprises (MSMEs) last year.According to Ministry of Finance, this credit assessment model leverages the digital…