New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) has performed away with the requirement of periodic renewals of licence or registration issued to customs brokers and authorised carriers, a transfer which would scale back compliance burden for commerce.
The CBIC has amended the Customs Brokers Licensing Regulations, 2018 and Sea Cargo Manifest and Transhipment Regulations, 2018, to state that every one such current licenses/registration would have a lifetime validity.
“The CBIC has with impact from July 23, 2021, abolished the requirement of periodic renewals of Licence/Registration issued to Customs Brokers and Authorised Carriers.
“This would greatly help reduce the compliance burden cast on the trade, which had to otherwise make applications and submit numerous documents to renew their licenses/registrations,” an official assertion stated.
The life-long validity of licenses/registrations is predicted to offer a significant reduction to the commerce by decreasing their compliance burden and selling the Ease of Doing Business in India.
Removing the requirement of looking for periodic renewals additionally reduces the interface between the Customs and the commerce, which is a deliverable of the CBIC’s ‘Contactless Customs’ initiative, a essential part of its flagship Turant Customs programme, it added.
Further, the amendments additionally present that the licensee/registration holder can voluntarily come ahead to give up his license/registration if s/he needs. Also, a provision has been made to invalidate licences/registrations which can be inactive for greater than a yr.
“These steps would prevent misuse of dormant licences/registrations by unscrupulous person who misdeclared import or export or wrongly obtain export refunds/incentives and when caught, put the burden on the original license/registration holder. Also Read: Apple testing new exterior show with A13 chip, Neural Engine: Report
“At the same time, the interest of the genuine trade is safeguarded by empowering the Commissioners of Customs to revalidate the licence/registration in case the inactivity is for genuine reasons,” the CBIC added. Also Read:Â Ola Electric teases high pace of much-awaited electrical bike: Check speculated value, options
