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The CBEC via Customs notification 134/2016-Customs (N.T) & 135/2016-Customs (N.T.) dated 2nd November, 2016, now permits importers certified as AEOTier 2 and AEO Tier 3 to make deferred payment of duties.

The CBEC has issued a notification No.54/2016-Customs November 22, 2016, further revising the already simplified procedure for fixation of brand rates.

With the Government aiming to drastically reduce cash transactions in the country with its recent move to demonetise currency notes of Rs.500 and Rs.1,000, and with the recent announcement by the Government to exempt central excise duty on Electronic Data Capture Machine (EDC) or Point of Sale (POS) machines, retailers big or small will now have to shift to accepting plastic money in their daily transactions.

The government has exempted the customs duty payable on the imports of cut and polished diamonds during the period from the Mar