CBIC Relaxes EXIM Norms

The Reserve Bank of India (RBI) is likely to propose stricter regulatory norms for shadow banks in order to strengthen solvency and sustainability of a sector that has been showing signs of stress in recent years.

Through a circular, the Central Board of Indirect taxes and Customs (CBIC) has provides relaxation in Export & Import (EXIM) norms for Bangladesh and Sri Lanka. It has extended exemption from furnishing of bank guarantee to eligible carriers for transhipment of export as well as import cargo through Bangladesh and Sri Lanka.

Further, it has issued a clarification regarding requirement of filing of bill of coastal goods. It stated that there is no requirement of filing a Bill of coastal Goods, if the coastal vessels are carrying exclusively coastal goods whether berthing at coastal berth or EXIM berth.

Click here for official circular – 1:

Click here for official circular – 2:

Knowledge Source:

SEBI Holds Meeting on Business Responsibility and Sustainability Reporting

Leave a Reply

Your email address will not be published. Required fields are marked *