Budget 2024-25: CBIC Issues Advisory On Changes In ICES

Under the Central Board of Indirect Taxes & Customs, the Directorate General of Systems and Data Management has released an advisory regarding the impending Union Budget 2024–25.The Union Budget 2024-25 is expected to be presented in the Parliament on February 01, 2024. Consequent to the same, the exercise of updation of Notifications and Tariff Directories in ICES would be undertaken by nominated budget officers from Directory Management sites under the supervision of the Directorate General of Systems, New Delhi, after the presentation of Budget 2024- 25.Consequent to the presentation of the Budget on February 01, 2024, filing of Bills of Entry (BE) will not be available from 11:00 hours onwards on February 01, 2024, till the completion of the updation of all changes in ICES. Section 48 approvals would also be stopped after 11:00 hours on February 01, 2024. Other than the filing of BE, all other services at ICEGATE will continue as usual. The system will also be available to officers for other functions in ICES.Since Shipping Bill (SB) filing and assessment will continue as usual, in the event of changes in the Export Duty and Export Cess or other export-related levies in the forthcoming Union Budget, it is advised that the respective sites shall keep track of Let Export Order of the relevant SBs given after February 01, 2024, till the directory changes are made online. Till such time export duty or cess or any other export levies imposed, consequent to the changes owing to aforesaid Budget, should be collected manually thereon.Further, while processing of BEs filed before 11:00 hours on February 01, 2024, will continue as usual, the field formations should keep track of Prior Bills of Entry filed on or before February 01, 2024, for any change of duty liability before giving OOC.The system will be available for filing and processing of documents (BE) only after suitable updation is made in ICES according to the Budgetary changes. This is generally carried out within 48 hours in association with Directory Management sites and NIC if no substantial new levies are notified in the Budget. Importers / Customs Brokers and members of the trade may be suitably advised to schedule clearance of their BEsAdvisory No: 01/2024Click Here To Read The Advisory

Budget 2024-25: CBIC Issues Advisory On Changes In ICES

Mariya Paliwala

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Budget 2024-25: CBIC Issues Advisory On Changes In ICES

Mariya Paliwala

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