Central Board of Indirect Taxes and Customs has launched a revamped and streamlined programme to attract investments into India and strengthen Make in India through manufacture and other operations under the bond scheme, of Customs Act, 1962.
The Section enables conduct of manufacture and other operations in a customs bonded warehouse. The scheme has been modernized with clear and transparent procedures, simplified compliance requirements ICT-based documentation and account keeping, by the issue of Manufacture and Other Operations in Warehouse Regulations 2019.
CBIC has collaborated with Invest India to launch a dedicated microsite for providing information and promoting the scheme and for the facilitation of investors. The site can be accessed at www.investindia.gov.in/bonded-manufacturing.
Static/Current Takeaways Important For IBPS RRB Main 2019:
- Central Board of Indirect Taxes and Customs is a part of the Department of Revenue under the Ministry of Finance, Government of India.
Source: The News on AIR