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CBIC relaxes norms for Customs Cargo Service Providers

By Economic Times - 2 weeks ago
The Central Board of Indirect Taxes and Customs (CBIC) has reduced the insurance requirement for stored customs cargo from 10 to 5 days, improving cash flow for Customs Cargo Service Providers (CCSPs). Additionally, CCSPs meeting international standards will no longer need to renew licenses for handling goods, as their licenses will align with AEO authorization, simplifying operations for logistics operators.

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