With the GST set to be rolled out on 1st July, 2017, the notice was issued by the special secretary and member , Central Board of Excise and Customs for changes in customs laws in the early phase of implementation of GST.
Changes in the Customs law and procedure are accompanied by changes in the EDI system so as to effectively implement the IGST law from 1st July 2017. The changes are as follows:
- Levy of Duties– IGST and Compensation Cess to be levied on imports
- Changes in Bill of Entry and Shipping Bill forms– To capture additional details required for validation with GSTN in case of IGST refund claims (export) or availability of IGST credit(Imports)
- Procedure in respect of manual filing of Bill of Entry and Shipping Bills- To electronically capture basic data require for validation with GSTN on imports and exports
Readiness of the customs administration and the trade shall be crucial for the implementation of GST.