CBIC should do away with IGCRS Rules for the export oriented units

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In August, the CBIC, without adequate preparation, asked the EOUs to adopt electronic processes through ICEGATE.

The EOUs import their requirements without any duty payment, under the notification 52/2003-Customs dated 31.3.2003, which requires them to follow the IGCRS Rules.

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Category: BusinessFinance

Markets: India

Topics: Trade policy Export import Finance sector Banking sector CBIC Bs opinion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-17 @ 22:58:44 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 122 words

Reading Time: 1 minutes read

Sentences: 6 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23636054

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