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  3. Govt mulling to ease process for select importers

Govt mulling to ease process for select importers

13 Jun 2016 Evaluate

To make things easier for the importers and in a bid to push its Make in India initiative, the government is likely to announce a scheme to extend single port clearance, deferred duty payment and relief from routine checks for select importers. The new scheme will have a benefits matrix, extending most of the benefits, including assured clearance from ports, to direct manufacturers in India.

The Finance Ministry expanding the scope of two existing programmes for importers, the Accredited Clients Programme (ACP) and the Authorised Economic Operator (AEO) scheme will be combining them, which will extend direct port transfers and allow members to move their cargo as it arrives at a land or sea port to a warehouse without checks. An AEO programme offers members reduced examination and inspection, higher facilitation than ACP clients, and acceptance of pre-arrival import declarations. This move is aimed to cut time and cost for importers and boost domestic production.

Importers in the revamped AEO scheme and bringing in shipments by the 15th of a month will get to make payments by a particular date of the second fortnight. Similarly, those bringing in consignments during the second fortnight will have to make payments by a specified date at the beginning of the second month. Only members of the revamped scheme will be eligible for deferred payment benefits. It has been reported that the government will be dividing a month into two.

Also, in order to encourage medium and small enterprises to be a part of the scheme, the government will probably do away with the eligibility criterion of Rs 10 crore of imports in the earlier financial year. Further, under the revamped scheme, there will be no value thresholds and minimum documentation will be required. Though manufacturers will be given preference, traders will not be barred. The government is easing the minimum import norms, without making the scheme weak as in earlier scheme the entry norms were tough and not many was able to qualify.


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