GSTnews item4 December 2017

Soon, imported items may be released without upfront payment of duty

News Update

Soon, imported items may be released without upfront payment of duty

Published Date: Dec 05, 2017
Source: ICAI PD Committee
India may release imported items without any upfront duty payment as part of a revamp of the Customs framework to speed up movement of goods across borders, which can currently take more than a week. Such a move would provide a massive boost, industry said. The upcoming budget, the first after the rollout of the goods and services tax (GST), is likely to include several measures aimed at relaxing the Customs regime for businesses. Other measures could include allowing traders to know their tax liability in advance even for existing transactions.
Read Original News Article