Major Changes in Customs and Central Excise Tariff from 1st January 2017
THE Finance Act 2016 by Sections 141 and 146 amended several entries in the Customs and Central Excise Tariffs to be effective from 1.1.2017.
The CBEC informs:
The amendments notified in Section 141 and 146 of the Finance Act 2016 regarding the changes from the WCO Harmonized System Nomenclature 2012 version to the 2017 version are to be implemented w.e.f. 00:00 hours on 01-01-2017. It includes 233 sets of amendments, divided as follows: agricultural sector 85; chemical sector 45; wood sector 13; textile sector 15; base metal sector 6; machinery sector 25; transport sector 18; other sectors 26.
Importers, Exporters and Custom House Agents are therefore requested to ensure that the classification of goods is in accordance with HSN 2017 while filing the Customs declarations for the goods to be imported or exported from 01-01-2017.
Customs RES software providers are also requested to equip their RES packages in line with the HSN 2017 version for smooth implementation w.e.f. 00:00 hrs on 01-01-2017.
The Cochin Customs has set up a Control Room operational from 31st December, 2016 to 03rd January, 2017 to guide and clarify any queries on the part of the trade, in this regard. The Commissionerate has issued a Trade Notice with the phone numbers of the officers who can be contacted for clarifications. This facility is available even during holidays and after office hours.