New Delhi, June 8 (KNN) The Ministry of Finance's Central Board of Indirect Taxes & Customs (CBIC) has announced the implementation of new mandatory requirements in import/export declarations for specific products.

As per Circular No. 15/2023-Customs issued on June 7, 2023, these changes will come into effect from July 1, 2023. The objective of this measure, as stated in the circular, is to improve efficiency, minimize delays, and support policy-making efforts.

Previously, importers were encouraged to voluntarily provide comprehensive details of imported goods, including scientific names, brand names, and other relevant parameters.

Following a recent review conducted in consultation with the Department of Chemicals and Petrochemicals, the Ministry of AYUSH, and the Directorate General of Foreign Trade (DGFT), it was concluded that furnishing more complete product information could facilitate assessment, reduce queries, and expedite clearance processes.

To that end, the introduction of mandatory additional qualifiers has been mandated for imports falling under chapters 28, 29, 32, 38, and 39 of the Customs Tariff Act, 1975. Importers will need to declare the IUPAC name and CAS number of constituent chemicals alongside existing declaration requirements. These additional qualifiers must be included in all bills of entry filed on or after July 1, 2023.

Regarding exports, a similar requirement has been imposed for parts of plants falling under chapter 12. Exporters must declare the name of the medicinal plant for such exports. Additionally, for exports falling under chapter 84, the declaration of the surface material that comes into contact with the chemical is now mandatory.

These new qualifiers will be compulsory for all shipping bills filed on or after July 1, 2023, in addition to the existing declaration requirements.  (KNN Bureau)