Initiatives by Indian Customs for reduction in transaction cost
CBEC in its latest advisory has listed out the followingh initiatives taken for reduction of transaction costs.
- Relaxation for cargo service Providers to take insurance cover for goods stored in customs area for 10 days instead of 30 days.
- Merchant overtime charges waived for 24×7 locations.
- Introducing e-Seal for cargo in place of officer supervised sealing.
