Customs:  Central Board of Indirect Taxes and Customs (CBIC) has issued notification to  revise key provisions related to insurance costs under the Handling of Cargo in Customs Areas Regulations (HCCAR), 2009.(14.10.2024)

Daily Updates / By

Customs

 Central Board of Indirect Taxes and Customs (CBIC) has issued notification to  revise key provisions related to insurance costs under the Handling of Cargo in Customs Areas Regulations (HCCAR), 2009. The circular primarily focuses on:

 

  1. Reduction in Average Dwell Time: The average dwell time for cargo clearance has been reduced from 10 days to 5 days due to improvements in trade facilitation and quicker customs clearance. This will reduce the insurance amount payable by Customs Cargo Service Providers (CCSPs).
  2. Exclusion of DPD Containers: Containers cleared through the Direct Port Delivery (DPD) scheme are now excluded from the calculation of insurance amounts, further lowering the financial burden on CCSPs. DPD containers bypass traditional customs clearance steps, reducing storage needs and logistics costs​.

 

[Circular No. 20/2024 dated 10.10.2024]