The Central Board of Indirect Taxes and Customs (CBIC) issues Advisory (No. 01/2024) dated 16 January 2024, outlining crucial updates related to the Union Budget 2024-25 and its impact on the Integrated Customs and Excise System (ICES).
The forthcoming Union Budget 2024-25, slated for presentation in Parliament on 01.02.2024, prompts the Central Board of Indirect Taxes and Customs (CBIC) to issue a significant advisory (No. 01/2024) on Budget Updation. The Directorate General of Systems (DGOS), ICES, issues the advisory, highlighting key changes and their implications.
Effective from 11:00 hours on 01.02.2024, the filing of Bills of Entry (BE) will be temporarily suspended until the completion of necessary updates in ICES. Furthermore, Section 48 approvals will cease after the aforementioned time. However, all other services on the Indian Customs EDI Gateway (ICEGATE) will continue without disruption, ensuring business continuity.
The advisory outlines that the system will be reinstated for filing and processing of documents (BE) only after the requisite updates aligning with Budget 2024-25 changes are completed. This process, often concluded within 48 hours, involves collaboration with Directory Management sites and the National Informatics Centre (NIC), particularly when no substantial new levies are introduced in the Budget.
Importers, Customs Brokers, and trade members are urged to plan the clearance of their Bills of Entry considering the indicated timelines. CBIC remains committed to ensuring a smooth transition and functionality of the ICES, despite the brief suspension during the Budget updation process.
