From July 1, Customs will implement additional disclosures for the export and import of pharmaceutical products
Beginning on July 1, the Customs Department will add new declarations for the export and import of pharmaceuticals in order to expedite shipment clearance.
These new disclosures may lessen the questions that Customs authorities regularly ask EXIM dealers who deal in chemicals and medicinal plants.
The CBIC said in a circular that new conditions, such as the reporting of the name of the medicinal plant for exports of plant parts, had been made essential after consultation with the Ministry of AYUSH and DGFT.
For all shipping bills submitted on or after July 1, 2023, “These additional qualifiers will be necessary for exports under the specified CTHs of the stated chapters…The Central Board of Indirect Taxes and Customs (CBIC) said that they “shall be in addition to the existing declaration being made by exporters.”
The CBIC had requested stakeholder opinions on the planned inclusion of new disclosures for export-import trade in pharmaceuticals last month.
According to the CBIC, the information currently provided by the importers and exporters of these products is insufficient and does not provide all of the necessary product details, which results in a lack of inputs for formulating policies, numerous questions during assessment and examinations, certifications from technical agencies, etc., and a delay in assessment and clearance.
