Enactment of the Finance Act, 2017 - Customs - PUBLIC NOTICE NO. 05/2017

GOVERNMENT OF INDIA MINISTRY OF FINANCE, DEPARTMENT OF REVENUE OFFICE OF THE COMMISSIONER OF CUSTOMS CUSTOM HOUSE, WILLINGDON ISLAND, COCHIN-682009 F.No.C1/03/2016-TU. Cus. Dated 12th April 2017 PUBLIC NOTICE NO. 05/2017 Subject: Enactment of the Finance Act, 2017-reg. Attention is invited to the changes made in the Customs Act, 1962 subsequent to the enactment of the Finance Act, 2017 (No. 7 of 2017) which has been published in the Gazette of India (Extraordinary) Part-II Section I dated 31 March 2017. Reference is also invited to the Board Circulars No. 11 and 12/2017- Cus. dated 31.03.2017 and the Non-Tariff notifications 24 to 28/2017-Cus.(N.T) dated 31.03.2017. 2. The major changes introduced in the Customs Act, 1962 and incorporated in ICES are summarized as follows: a. Imposition of Late Presentation Charges (under Section 46- Customs Act, 1962 and Regulation 4 of Bill of Entry (Electronic Integrated Declaration): The Board has amended Regulation 4 of Bill of Entry (Electronic Integrated Declaration) stipulating that failure to file the Bill of Entry (BOE) under sub-section (1) of Section 46 within the next working day of the vehicle carrying the goods arrives at a Customs station will attract late presentation charges of ₹ 5,000 (Rupees Five Thousand) for each day of default for the first 3 (three) days and ₹ 10,000 (Rupees Ten Thousand) for each day thereafter, which will be calculated as a part of fines in ICES. The Board has also amended the Handling of Cargo in Customs Areas regulations, 2009 making it mandatory for the Customs Cargo Service providers to provide information about the arrival of the cargo to Customs. The Notification No.40/2012-Cus.(N.T.) dated 02.05.2012 has been amended to appoint Additional/ Joint Commissioner rank officer as the proper officer under sub-sections (3) and (5) of Section 46 of Customs Act, 1962. b. Changes in the relevant date for calculation of interest under Section 47-Customs Act, 1962: Sub-section (2) of Section 47 of Customs Act, 1962 has been amended to specify that importer shall pay the duty, to obviate the payment of interest on duty, on the same day in case of self-assessed BOE and within one working day after the return of BOE by the proper officer in case of re- assessment or provisional assessment. 3. All the stakeholders are advised to take note of the above to avoid inconvenience. (Pullela Nageswara Rao) Principal Commissioner