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GOVERNMENT OF INDIAMINISTRY OF FINANCE(DEPARTMENT OF REVENUE) NotificationNo. 07/2025- Customs (N.T.) New Delhi, the 1st February, 2025 G.S.R (E). In exercise of the powers conferred by section 156 of the Customs Act,1962 (52 of 1962), the Central Government hereby makes the following rules to a
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FAQ :
The amendment changes reporting frequencies from monthly to quarterly and extends certain compliance periods from six months to one year.
These rules come into force on the 2nd day of February, 2025.
A 'quarter' means a period of any three consecutive calendar months ending on the last day of March, June, September, or December of a calendar year.
Rules 3, 6, 7, 8, 9, and 10 of the principal rules have been amended, along with Form IGCR-3.
Yes, in rule 7 and rule 10, the period of 'six months' has been substituted with 'one year'.
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Notification No : Notification No. 07/2025- Customs (N.T.)Published in Custom
Source : https://www.indiabudget.gov.in/doc/cen/cus0725nt.pdf