Latest News | Average Time Taken for Customs Clearance of Imports Comes Down: CBIC
Get latest articles and stories on Latest News at LatestLY. The average time taken for customs clearance of imports has come down by 16 per cent at air cargo complexes and by 12 per cent across seaports, a CBIC study showed on Monday.
New Delhi, Apr 11 (PTI) The average time taken for customs clearance of imports has come down by 16 per cent at air cargo complexes and by 12 per cent across seaports, a CBIC study showed on Monday.
The National Time Release Study 2022 presents the annual report of cargo clearance process through four categories of ports -- seaport, Inland Container Depots (ICDs), Air Cargo Complexes (ACC) and Integrated Check Posts (ICPs).
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The comparative study in NTRS 2022 shows that the average import release time in 2022 has improved by 16 per cent at ACCs, 12 per cent in case of seaports and ICDs, and 2 per cent in ICPs as compared to 2021, the Central Board of Indirect Taxes and Customs (CBIC) tweeted.
"The study covered bills of entry (for import) and shipping documents (exports) filed during the first week of January 2022 for cargo clearance through 15 major customs formations," the CBIC said.
With this improvement, the ICPs have achieved the National Trade Facilitation Action Plan (NTFAP) target release time to be achieved by 2023, whereas the other three port categories have reached 75 per cent of NTFAP target, the finance ministry said in a statement.
The study covered 15 major customs formations, including four port categories -- seaports, ACCs, ICDs and ICPs -- which handle about 80 per cent of the bills of entry (imports documents) and 70 per cent of the shipping bills (export documents), and is based on the sample period between January 1 and 7 this year.
The study also reveals that there has been a 79 per cent improvement in average export release time at integrated check posts on land border.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)