Importers, exporters, domestic industry and trade associations are invited to give views on the subject for consideration by the government by August 10 on the 'MyGov.in' portal.
The government has
identified a host of Customs exemptions for review and has invited suggestions
from trade and industry bodies on the same.
Importers, exporters, domestic industry and trade associations are invited to
give views on the subject for consideration by the government by August 10 on
the ‘MyGov.in’ portal.
Some key products
covered under the list include fabrics, games/sports requisites, magnetron for
microwave manufacturing, specified parts for PCB, set-up box, routers,
broadband modem, contraceptives and artificial kidney.
The list also
includes magnetic tapes, photographic, filming, sound recording/ radio
equipment, parts/ raw material for manufacture of goods supplied for
off-shore oil exploration, specified machinery/ parts covered in textile
industry.
Finance Minister Nirmala
Sitharaman in her 2020-21 Budget speech had announced that a further
review of existing customs exemption notifications would be undertaken through
extensive consultations.
Giving a list of
97 notifications, the Government said certain Customs exemptions have been
identified for purpose of further review.
“Suggestions are
invited in respect of their review which may include the need for review of the
notification, amendment in wording of the notification for bringing clarity,
consolidation, other relevant factors such as extent of use, etc,” it added.
The Central
Board of Indirect Taxes and Customs (CBIC) last year too had conducted this
crowdsourcing exercise to identify the customs duty exceptions which need to be
reviewed. Following that, the government has now drawn up a list of
notifications and invited stakeholder views for a comprehensive review.
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