De-notification of Inland Container Depots/Container Freight Stations/Air Freight Stations
Providing relief to custodians of Inland Container Depots (ICDs) and Container Freight Stations (CFSs) across the country, the CBIC today streamlined the procedure of closure of these facilities in maximum of four months only. No timeline was specified earlier.
ICDs and CFS play a vital role in the exim trade as they store and clear import and export goods. These facilities are notified under the Customs Act, 1962 and are administered by the Customs authorities. However, at times a custodian may like to close (de-notify) the facility. The disposal of un-cleared, seized and confiscated goods import/export are prerequisites for the de-notification. The CBIC noted that this process was taking a long time which caused difficulties for the custodians.
The newly issued Circular No. 20/2021-Customs dated 16.08.2021 requires a custodian intending to wind up the operation to submit an application to jurisdictional Principal Commissioner/Commissioner of Customs for de-notifying the ICD/CFS. A Nodal Officer at the level of Deputy/Assistant Commissioner of Customs would then facilitate the de-notification by coordinating the disposal of the goods lying at the facility in a time bound manner.
The new procedure would ensure undue cost and time over runs are avoided. Importantly, the de-notification shall be completed within a maximum of four months from the date of receipt of complete application. This is yet another trade facilitation initiative by CBIC.
Empanelment to act as ICAI exam observers for January 2027 CA Examination. Last date to apply is 20.11.2026 Empanelment of…
No arrest under GST- Major decision taken in 57th Meeting of the GST Council on 8th October 2026 PRESS RELEASE…
A subsequent Apex Court ruling on the substantive issue cannot retrospectively make an act done in compliance of a binding…
Interest payment on mobilisation advance to NHAI not liable for deduction of tax at source u/s 194A - ITAT Interest…
Typographical error in turnover declared in ITR was not as a mistake apparent from the record u/s 154 when AO…
Ground taken by assessee that he was not aware of the order cannot be brushed aside so lightly in absence…