The Finance Bill, 2021 seeks to amend the timelines for filing the Bill of Entry to a day before the arrival of Imported Goods.
CUSTOMS ACT, 1962
In terms of the Customs Act, 1962, the time limit for filing Bill of Entry is set out under sub-section 3 of section 46. The extract of Section 46 of the Customs Act, 1962 is as under:
“(3) The importer shall present the bill of entry under sub-section (1) before the end of the next day following the day (excluding holidays) on which the aircraft or vessel or vehicle carrying the goods arrives at a customs station at which such goods are to be cleared for home consumption or warehousing:
Provided that a bill of entry may be presented within thirty days of the expected arrival of the aircraft or vessel or vehicle by which the goods have been shipped for importation into India:
Provided further that where the bill of entry is not presented within the time so specified and the proper officer is satisfied that there was no sufficient cause for such delay, the importer shall pay such charges for late presentation of the bill of entry as may be prescribed”
(emphasis supplied)
The bill of entry for home consumption was to be filed within one day of arrival of imported goods.
FINANCE BILL, 2021
An amendment to the provisions mentioned above have been introduced in the Finance Bill, 2021, which seeks to recontour the timelines for filing the Bill of entry. The relevant extract of the Finance Bill, 2021 is as follows:
“In section 46 of the Customs Act, in sub-section (3), ––
- in the opening portion, for the words and brackets “before the end of the next day following the day (excluding holidays)”, the words and brackets “before the end of the day (including holidays) preceding the day” shall be substituted.
- for the words “Provided that”, the following shall be substituted, namely: –– “Provided that the Board may, in such cases as it may deem fit, prescribe different time limits for presentation of the bill of entry, which shall not be later than the end of the day of such arrival: Provided further that”.
- for the words “Provided further that”, the words “Provided also that” shall be substituted.”
The said amendment mandates that the bill of entry is to be filed one day before the arrival of Imported goods. The amendment empowers the board to prescribe a different time-limit for presenting Bill of Entry, in cases where they deem fit, but not beyond the end of the day of arrival of Imported goods.