Custom

Initiatives by Indian Customs for reduction in transaction cost

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.

 

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