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TMI BlogCustoms (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 notified vide Notification 74/2022 dated 9th September, 2022X X X X Extracts X X X X X X X X Extracts X X X X ..... ir, Subject: Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 notified vide Notification 74/2022 dated 9th September, 2022- regarding Reference is drawn to the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 (hereinafter referred to as IGCRS Rules, 2022) notified vide Notification No.74/2022-Customs (N.T.) dated 09.09.2022 superseding the existing Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 . These rules have come into effect from 10th September 2022. 2. CBIC had earlier introduced significant changes simplifying and automating the procedures in the (Import of Goods at Concessional Rate of Duty) Rules) IGCR, in short ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns, i.e. apart from those pertaining to manufacturing and in respect of those for providing output services. In case of end use, supply to the end use recipient and the nature of the supply is to be captured in the IGCR automated module. d. Changes in the forms to capture the details where intended purpose is the export of goods using the goods imported. e. Corresponding changes in the forms to better capture the different intended purposes (manufacturing, import for specified end use, export of goods using goods imported, supply to end use recipient or for provision of output service) and additional details such as Sl.No. of the Notification etc. f. In Rule 13 of IGCRS Rules, 2022 , it is mentioned that reference in any rule, n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ontrol. 4.2 Specified End Use: IGCRS Rule, 2022 is also expanded to include cases where the intended purpose is for putting the goods imported to specified end use and not necessarily manufacturing or for providing output services. In this regard, it is clarified that: a. Procedure of intimation, generation of a unique IGCR Identification Number (IIN), import of the goods, submission of bond, maintenance of records, filing of monthly statement or any other procedures remains the same. The Importer shall undertake compliance to the officer having jurisdiction over primary address specified in the Importer Exporter Code (IEC) issued by DGFT. b. End use may be specified by a notification under sub-section (1) of section 25 or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l be taken as per the following norms for the purpose of extending the benefit under the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022. It is also clarified that the circular No. 48/2017-cus and the circular No. 27/2016-cus stands modified to this extent Sl.no. Category of importer Quantum of Bank Guarantee/Cash security/Surety 1 All importer (s) who are either a department of Central Government or a State Government or a Union Territory or a Public Sector Undertaking, or an autonomous institute under the said governments. Bank Guarantee/Cash Security ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T returns without fail and whose annual turnover in the preceding year is above Rs. 1 crore Importers shall give surety for the amount of duty foregone. However, where the importer is not able to provide the surety, a bank guarantee/cash security equivalent to not more than 5% of bond debit value* shall be furnished. (excluding cases in sl.no. 4) 6 Importers not covered under sl.no 1,2,3,4 or 5 above Bank guarantee/Cash security- not more than 25% of the bond debit value*. * Bond debit value Duty foregone in case of concessional rate and assessable value of the goods in other cases. 4.4 UAE CEPA: The Import of Gold under the I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 05.05.2000 and 57/2000 Customs dt. 08.05.2000 governing above schemes were made through notifications 47/2022 Customs and 48/2022 Customs both dated 07.09.2022 w.e.f. 01.10.2022. Following aspects are clarified in this regard: I. The requirement of Bond / BG (Bank Guarantee) stipulated in the notifications shall be said to be have been met, if the Bond / BG prescribed under IGCR is already furnished to the jurisdictional Customs officer. The norms for BG will continue to be governed by para 6 (ii), (iii) and (iv) of Circular 27/2016 Customs. II. The importer shall maintain the records and submit monthly statement on the common portal. III. The end use recipient in these cases would be an exporter. IV. In case of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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