Page 62 - ELT_2nd_15th April 2020_Vol 372_Part

A78 EXCISE LAW TIMES [ Vol. 372

Department of Fisheries
(1) All Sanitary Permits (SIPs) for import of SPF Shrimp Broodstock and
other Agriculture inputs expiring between 1-3-2020 to 15-4-2020 ex-
tended by 3 months.
(2) Delay upto 1 month in arrival of consignments to be condoned.
(3) Rebooking of quarantine cubicles for cancelled consignments in
Aquatic Quarantine Facility (AQF) Chennai without additional book-
ing charges.
(4) The verification of documents and grant of NOC for Quarantine
would be relaxed from 7 days to 3 days.
Department of Commerce
Extension of timelines for various compliance and procedures will be
given. Detailed notifications will be issued by Ministry of Commerce.
[Source : Press Information Bureau, New Delhi, dated 24-3-2020]
Foreign Trade Policy extended by one year
The Government on 31-3-2020 extended the country’s existing Foreign
Trade Policy for one year till March, 2021 and is looking at some proposals to
help exporters avoid a liquidity crunch amid a 21-day nationwide lockdown.
“The existing Foreign Trade Policy, 2015-20 which is valid up to March
31 this year is extended up to March 31, 2021,” the Directorate General of Foreign
Trade (DGFT) said.
Validity of various import-linked export schemes such as Duty Free Im-
port Authorisation (DFIA) and Export Promotion Capital Goods (EPCG) have
also been extended by one year, it said.
Under EPCG, exporters can import certain amount of capital goods at
zero duty for upgrading technology related with exports, while DFIA allows
them to import certain goods like sugar at zero duty.
The Government also extended the exemptions to imports against ad-
vance authorisations for physical exports from integrated tax and compensation
cess up to March 31, 2021.
[Source : The Economic Times, New Delhi, dated 1-4-2020]

Bonds — Customs Department eases norms on bond sub-
mission
The Central Board of Indirect Taxes and Customs (C.B.I. & C.) has eased
the rules regarding submission of bonds by importers and exporters to expedite
Customs clearance of goods and to maintain a balance between Customs control
and facilitation of legitimate trade in the wake of the nationwide lockdown.
The C.B.I. & C. has approved relaxation of the requirement to submit
bonds prescribed under Sections 18, 59 and 143 of the Customs Act after receiv-
ing representations on the difficulties faced by importers/exporters and their
authorised Customs brokers in obtaining notarised stamp papers for furnishing
bonds required by Customs in certain situations during the assessment and
clearance of goods, M. Sangha, Joint Commissioner (Customs), wrote in a April 3
circular.
EXCISE LAW TIMES  15th April 2020  78