Tax Dept to Start Talks on Cus­toms Act Changes

The Economic Times - - Economy: Macro, Micro & More -

Tax depart­ment has asked of­fi­cials to start an outreach pro­gramme with stake­hold­ers and make sys­temic changes to im­ple­ment pro­posed mod­i­fi­ca­tions in Cus­toms Act aimed at de-clut­ter­ing ports and en­hanc­ing rev­enue. The Fi­nance Bill 2017 pro­poses to mod­ify the Cus­toms Act for fil­ing of bill of en­try the same day on which the ves­sel, air­craft or ve­hi­cle car­ry­ing the goods ar­rives at a cus­toms sta­tion. Changes have also been pro­posed re­lat­ing to the pay­ment of duty and in­ter­est.

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