GST implementation has brought multi fold changes in the Indirect Tax regime. GST has also impacted the considerable changes in the custom duties as well as procedures therein. Though the Government has released the GST law / rules / procedure in advance but the Government did not release the associated changes in the custom law / rules made thereunder or Foreign Trade policy. On late night on 30.06.2017, guidelines for changes in Customs Act and FTP under GST regime where brought in the public domain by way of various Notification, circulars and trade notice. It would be unfair on EOUs to note, understand and implement the changes as suggested in documents released by the Government. If these changes would have intimated earlier, the Unit could have developed their internal system for these compliances at the same time when they developed systems for embracing of GST.
Nevertheless, now it is important to understand the changes proposed for import of the goods by EOUs and listing down the actions to be taken immediately so as to avoid any stoppage of business processes.
