Navigating Customs and Trade Policy Updates: October 2024 Highlights
In the rapidly evolving landscape of international trade, staying updated on customs regulations and foreign trade policies is crucial for businesses. The October 2024 edition of CNK & Associates LLP’s Customs & FTP Quarterly Insights brings key developments impacting Indian importers, exporters, and special economic units (EOUs). These updates aim to enhance efficiency, transparency, and digital integration in trade-related processes.
This edition covers the Central Board of Indirect Taxes and Customs (CBIC)’s introduction of ICETAB devices for real-time cargo examination, the digitization of Customs Bonded Warehouse licensing via ICEGATE, and the implementation of the IGCR procedures for EOUs. Additionally, it highlights the revamped eCoO 2.0 system for streamlined certificate issuance and clarifies the extended Interest Equalization Scheme for MSMEs and exporters.
