Monday, February 28, 2011

Customs Modernisation – Self-Assessment to be Introduced Jodhpur to be Included for Development of Handicraft Mega Cluster

Presenting the General Budget 2011-12 here today, Shri Pranab Mukherjee, Finance Minister said that to quicken the clearance of the cargo by Customs authorities and further modernize the customs administration, it has been proposed to introduce self-assessment in Customs. Under this scheme, the importers and exporters will themselves asses their duty liabilities while filing their declarations in the EDI system. The department will verify such assessments on a selective system driven basis.

The Finance Minister Shri Mukherjee said that a new scheme has also been proposed under which SEZs will be able to obtain tax-free receipt of services wholly consumed within the zone and get their refunds in a much easier manner.

It has also been proposed to extend the mega cluster scheme for development of leather products. Seven mega leather clusters have been proposed to be set up during 2011-12. Jodhpur has been proposed to be included for the development of a Handicraft Mega Cluster.

No comments: