News
India's Central Board of Excise and Customs (CBEC) has amended Sections 46 and 47 of the Customs Act, 1962. These changes came into effect on April 1, 2017 following the enactment of the Finance Bill, 2017.
Under the revisions, an importer shall present the bill of entry (BoE) before the end of the next day following the day (excluding holidays) of arrival of goods at the place where the clearance for home consumption or warehousing is to take place.
The importer also has to make payment of duty on the same day in case of self-assessed BoE and incase of re-assessment or provisional assessment, within one day after the return of BoE.
