Attention of all stakeholders is invited to the Board’s Circular No.22/2024-Customs dated 08/11/2024; relating to reduction in average dwell time for calculation of insurance amount under Regulation 5(l)(iii) of HCCAR, 2009 and Notification No. 75/2024-Customs (N.T.) dated 07.11.2024 regarding appointment of AEO-LO CCSPs as custodian, till such time their AEO authorisation is valid.
2. As a measure of Ease of Doing Business, it has been decided by the Board to partially modify the earlier Circular No. 2212024-Customs dated 10/10/2024 with regard to Regulation 5(l)(iii) of HCCAR, to laydown that the amount of insurance to be provided by CCSPs should be equal to the average value of goods likely to be stored in the Customs area for a period of 5 days (based on projected capacity) and for an amount as Commissioner of Customs may specify having regard to the goods that are already insured by the importers or exporters. Corresponding changes have also been carried out in Regulation 5(3) of HCCAR, 2009 vide Notification No. 75/2024-Customs (N.T.) dated 07.11.2024 to reduce the value of custodian bond being furnished in respect of imported/export goods to the extent of 5 days storage from the current 10 days as stipulated in Notification No. 115/2016-Customs (N.T.) dated 26.08.2016.
3. The Notification No. 75/2024-Customs (N.T.) dated 07.11.2024 also amends Regulation 10 of HCCAR, 2009 providing that the approval for appointment of AEO-LO CCSPs as custodian has been made valid, till such time their AEO authorisation is valid and not suspended or revoked in terms of Regulation 12 of HCCAR, 2009. Accordingly, in terms of clarification provided in Circular No.32/2013-Customs dated 16.08.2013, the custodian bond executed by CCSPs i.e. ICDs/CFSs etc who are AEO-LO shall have the validity same as the validity of approval granted under Regulation 10 of HCCAR, 2009.
4. Further, Public Notice No. 91/2024 dated 24/10/2024 issued by JNCH stands withdrawn, as Board’s Circular No. 20/2024-Customs dated 10/10/2024 has already been withdrawn.
Difficulty, if any, faced in this regard may be brought to the notice of this office.
Sd/-
D. S. Garbyal
Commissioner of Customs, Nhava Sheva (Gen),
JNCH, Mumbai Customs-II