Center issues guidelines to improve containers available for exporting goods
Working on one of the courses of action identified by the government to alleviate the problem, as a temporary measure to improve the containers currently available for the export of containerized goods and with the aim of promoting the export of loaded sea containers , the Central Council for Indirect Taxes and Customs (CBIC) issued guidelines to field offices on Friday. This step is expected to reduce the country’s exports of empty containers due to the imposition of import duties, thereby increasing the availability of containers for trade.
To relieve exporters facing a global container shortage, CBIC has also issued a circular stating that the Deputy Commissioner can grant an extension beyond six months upon sufficient justification, which can be extended for up to three additional months. The notification was issued with a view to improving the efficiency of the movement; once stuffed, these containers would be sent as a priority to the port to find a ship as soon as possible for a better waiting period.
“Circular issued within the framework of the exemption of durable containers. This notification specifies, among other things, that in any particular case, the initial period for re-exporting said type of containers imported within 6 months may be extended by the deputy commissioner for sufficient grounds being shown “, reads the circular of the CBIC.” The deputy commissioner can grant an extension beyond 6 months up to 3 additional months for the reasons to be recorded in writing “, he added. .
In addition, it has been informed that the provision of the circular can also be applied upon receipt of a notice before the expiration of the initial six-month deadline from the importer concerned that the container must be re-exported in load within three months. following. Ministry of Commerce officials said disruptions from the COVID pandemic have resulted in high sea freight rates and a shortage of containers around the world, an issue that has also been repeatedly raised by exporters in India.
It was highlighted during stakeholder consultations by the Ministry of Trade and Industry that the problem could be mitigated by creating policy incentives discouraging the export of empty containers. Under the current structure, retention of containers beyond a period of six months results in an import duty as deemed importation. (ANI)
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