The Government vide. Notification No. 74/2022-Customs (NT) dated September 9, 2022, has notified the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 (‘IGCR-SEU Rules‘)
These rules are notified in supersession to Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 (‘IGCR Rules‘).
Key amendments include:
- Relaxation in time period for re-export or clearance of unutilised or defective goods
- A new Form IGCR-3A has been notified for consumption of goods which would enable automatic re-credit of bond
Source Gaba & Co
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