According to media sources, The Central Board of Indirect Taxes and Customs (CBIC) has introduced key relaxations for Customs Cargo Service Providers (CCSPs). The relaxations include reducing the number of days for insurance of storage goods from ten days to five days and the withdrawal of the licence renewal process for Authorized Economic Operator-compliant CCSPs. The Finance Ministry, in a statement, said that the relaxations will reduce costs and compliance burdens, improve the efficiency of export-import operations, and facilitate global trade. These relaxations have been made in line with the PM Gati Shakti National Master Plan’s goals of improving logistics infrastructure, and efficiency, and promoting sustainable development.
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