Custom
TRT-2025-
Date:-24-05-23
In:-
Issue Favourable to Tax Payer ?:-
Circular No. 12/2023 -Customs dated 24th May 2023
Key Pointers –
- Special Advance Authorization Scheme (SAAS) is for import of specialized fabrics meant for export production of garments of Chapter 61 and 62. Such authorization may also be issued on the basis of self- declaration with the condition that the norms shall be finalized/fixed in such cases within stipulated time period of 90 days.
- The eligibility to apply under Self Ratification Scheme for purposes of Advance Authorization has been extended to a manufacturer cum actual user who holds a valid 2-Star or above Status if it has already submitted its application on CBIC's AEO portal for grant of AEO certification, provided he obtains the AEO certification within 120 days, else the DGFT's Norms Committee shall have to fix the norms.
- A minimum value addition of 25% is now to be achieved for spices under Advance Authorisation Scheme. All items with a basic customs duty of more than 30% have also been included in the list of ineligible categories of import under self-declaration basis. Project imports are excluded from EPCG scheme.
- The EOUs, for setting up, operations or maintenance of wind captive power plant and solar captive power plant would not get tax/duty benefits.
- In the Gems and Jewellery schemes the list of Nominated Agencies has been revised.
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