Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

ICES Advisory 13/2019 dated 29.05.2019 and 20/2019 dated 09.09.2019- Introduction of Project Imports Module in ICES

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of Systems, New Delhi. 2. As per the ICES Advisory No. 13/2019 dated 29.05.2019, a holistic Project Imports Module has been developed in ICES system replacing the manual process which is currently being in use for Project Imports. The Project Imports Module developed in ICES now is aimed at covering the following processes: A. Registration of a Project and generation of a Project number B. Bond Registration for Project Imports C. Filing of provisional BES with project number and bond details. Item wise debits in the project/bond for every BE D. Finalization of the Provisional BES and re-crediting of the Bond A. Registration Project Registration functionality has been developed on the lines of license registration. The regi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s of REB and ACB. Only when a PI bond is registered can project be registered quoting the same in registration form. C. Filing of import declarations Once a project (license) number is generated, the same can be used to file import declarations similar to how declarations with EP licenses are filed. The BES will have to be filed with PI as the scheme code and the serial numbers of the items of import will also have to be quoted as per the project registration along with the Project number in the license table. The bond details will reflect similarly at the time of assessment and with the corresponding debit value. The project ledger will also be maintained the same way as the license ledger in the System with both item quantity and valu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e details are declared, the Bill of Entry jobs will get rejected. 7. Once the BES are filed successfully with project and bond details, the project license ledger and bond ledger will be automatically maintained by System for each debit. The same will be accessible from the already available menu in the license management and bond management options. Similarly, for imports at ports other than the port of registration, online TRA can be issued in the System at the port of registration from the license management option, the same way it is issued for EP licenses. 8. Difficulties faced, if any, may be brought to the notice of Joint Commissioner of Customs, ACC (Imports), New Customs House, New Delhi. This issues with the approval of the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates