 "Govt to liberalise plan for some importers")
The Customs department is set to revamp the decade-and-a-half-old Accredited Client Programme (ACP) for importers, liberalising the strict pre-requisites to join the scheme, such as no tax show-cause notice in the past three years, a requirement most importers would fail to meet.
Members of the scheme would enjoy benefits such as no routine checks for consignments.
More From This Section
Importers would face only risk-based checks of consignments.
"We will allow payments after 10 days, although selectively," said an official.
The deferred payment scheme was announced in the Budget this year.
Despite India being an import-dependent nation, the ACP has only 300 members.
"Introduction of the deferred Customs duty scheme possibly under the programme is keenly awaited and will definitely be a move towards ease of doing business in India," said Saloni Roy, senior director, Deloitte. Currently, to be a member of ACP, one should have imported goods valued at Rs 10 crore in the previous financial year or paid duty more than Rs 1 crore. They should have filed at least 25 bills of entry in the previous financial year. Besides, if one has a pending tax show-cause notice in the past three years, he will be ineligible to avail of the scheme.
Close to 13 per cent of import cargo is cleared under the programme each year in value terms.
"The revamp is in line with the tax department moving to post-assessment audit, where you clear goods, pay tax, and get audited later," said Bipin Sapra, tax partner, EY. "Allowing clearance as soon as possible and doing assessment later will be a big initiative as port capacity across the country is limited," he added.
The other trade-friendly measures include the government launching a 24x7 single-window interface for facilitating trade at Customs ports from April 1. With this, importers and exporters will have to fill just one form at Customs ports for clearance from all agencies including the Food Safety and Standards Authority of India, Drug Controller General of India, Plant Quarantine and Wildlife Crime Control Bureau.
- The government will liberalise a programme to allow select importers to make deferred payments and extend to them easier Customs clearance
- The move is expected to lower the cost and time for importers
- The Customs department is set to revamp the decade-and-a-half-old Accredited Client Programme (ACP) for importers, liberalising strict pre-requisites to join the programme