Helpful changes in Customs and GST procedures

The Finance Ministry has issued instructions for smooth implementation of the revised Customs rules that facilitate availing of end-use based notifications. The regulations to streamline the procedures for conversion of shipping bills from one export promotion scheme to another have been notified. Under the goods and services tax (GST) laws, e-inv­oicing is made mandatory for all the taxpayers with a turnover exceeding Rs 20 crore from the beginning of next month.

Many Customs notifications allow imports at lower or nil rates of duty, specified goo­ds for use in the manufacture of specified products. To ens­ure that the goods imported under such