The Cochin Chamber of Commerce & Industry is organizing a Virtual Meeting on the “Latest changes under Customs Law”, on the 17th of September, 2020 between 11 a.m. and 1 p.m. The Speakers for this session will be Mr. Prabhakaran P M - Partner & Head of Kochi Office, Lakshmi Kumaran & Sridharan; Ms. Lakshmi Menon – Partner – Customs and International Trade Team, Lakshmi Kumaran & Sridharan; and Mr. Karthik Nair, Joint Partner – Kochi Office, Lakshmi Kumaran & Sridharan.
The topics that will be covered in this Session are as follows.
To achieve the goal of a strong self-reliant India, Atmanirbhar Bharat Abhiyan has been initiated by the Government with encouraging slogans of ‘Vocal for local’ and Make in India, Make for the World. With a view to promote manufacturing in India, Section 65 of the Customs Act has been amended over a period of time to promote the initiative of manufacturing in-bond to an importer who can import raw materials and capital goods without payment of duty for manufacturing and other operations in-bond and export.
This webinar will analyse:
· Nuances of bonded manufacturing
· Types of beneficiaries
· Benefits of bonded manufacturing
· Procedure for clearance of manufacture and capital goods
· Accounts and records maintenances
· Open issues and challenges in bond manufacturing
Faceless Assessment under Customs Laws
· To promote the ease of doing business, CBIC has implemented faceless assessment which is similar to the e-assessment (faceless assessment) under Income Tax law in a phased manner. Presently, it has been launched in Bangalore and Chennai Customs Zones and will be extended to all airports, ports, inland container depots throughout India by the end of the year.
· The webinar will examine the objectives and aspects of the Scheme of Assessment proposed to be undertaken through the Customs Automated System.
CAROTAR 2020:New face of FTA and Country of Origin benefits
The Ministry of Finance has issued the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (“CAROTAR, 2020”) effective from 21st September, 2020 which prescribes various obligations and guidelines, for claiming the origin based Customs duty exemptions and concessions.
The Webinar will examine:
· Declaration in the BoE
· Information on origin of goods
· Claim of preferential rate of duty under a Trade Agreement
· Responsibility of Importers
· Verification by Customs Authority
This is a free session for the Members of the Cochin Chamber of Commerce & Industry. Non-members will be required to pay a fee of Rs.500/- (Incl. 18%GST) to attend this Session.
Online registration is mandatory for this session.
Please feel to contact us for more details on 9744629992 (Thomas Sebastian) or WhatsApp us on 6238383922