Liquid bulk importers hail Customs self-assessment procedure

The Customs Department deserves to be complimented for introducing the system of self-assessment for import cargo clearance which shows that the exim trade has earned the trust of the revenue officials, Mr Nadir B. Godrej, Managing Director of Godrej Industries Ltd, said.

He was speaking as the chief guest at the recently held service recognition award function of the All India Liquid Bulk Import Export Association to celebrate 50 years of the Customs Act 1962.

The dignitaries participating in the event included Mr Rajeev Gupta, Chairman, Mumbai Port Trust, Ms Shobha Chary, Chief Commissioner of Mumbai Customs (zone I), and other high-ranking revenue officials, in addition to representatives of large corporate houses such as Hindustan Unilever, Supreme Industries, Aegis Logistics, and Kamani Oil Industries.

The recently introduced self-assessment and post-clearance audit has been hailed by the exim trade as one more measure towards trade facilitation.

India is a large importer of a wide range of commodities, including liquid bulk cargoes such as mineral oil, vegetable oil, chemicals and others.

“Once Customs were investigators; and now they deserve our plaudits for they are now facilitators with their post-clearance audits,” said Mr Godrej. He asserted that India will continue to import large quantities of mineral oil and vegetable oil to meet domestic needs.

Given this scenario, infrastructure improvements, not just within ports but also outside (like good roads for rapid movement), are necessary, according to him.

He demanded that Octroi duty should ideally be done away with or capped at 2 per cent on finished goods.

Mr Jayant Lapsia, President of the Association, pointed out that Mumbai port was the lifeline of the liquid bulk trade, and expeditious movement and clearance of goods at competitive costs would help retain the pre-eminent position of the port in handling liquid bulk cargoes.