INDIA: Revised Bills of Entry Filing Schedules Announced
26 April 2021
New regulations relating to the filing of bills of entry (BEs) by importers have been issued by the Central Board of Indirect Taxes and Customs (CBIC). Detailed in Circular No. 08/2021-Customs, the measures specify revised deadlines for filing BEs, which are intended to facilitate faster clearance of goods. BEs for sea-freighted goods from Bangladesh, the Maldives, Myanmar, Pakistan and Sri Lanka, for instance, will need to be submitted at the latest by the end of the day of goods arrive, while BEs relating to goods from all other countries have to be filled the by the end of the day preceding their planned arrival. In the case of goods arriving at an airport or land customs station, the BE needs to be submitted by the end of the day of their arrival. In all cases, late submissions may be subject to financial penalties.
The existing rule that allows a BE to be filed at any time up to 30 days before the expected arrival date of goods also remains in effect. The requirement for importers to present a Master Bill of Lading or a Master Airway Bill within the set deadlines, however, has been scrapped in recognition that such a procedure may no longer be viable within the newly specified schedules.
- Other Asian Countries