Revisions in BoS Publications

Study Material [November 2020 Edition] – Printed copy

Module Chapter Page No. Remarks

(printed
copy)

1 2 2.32 Clause (iii) of Explanation 1 to section 8 of the IGST Act, 2017 on said page be replaced
with following:

“an establishment in a State or Union territory and any other establishment registered
within that State or Union territory.”

5 5.7 Third bullet in Explanation 1 to section 8 of the IGST Act, 2017 on said page be replaced
with following:

“an establishment in a State or Union territory and any other establishment registered
within that State or Union territory.”

2 8 8.122 Second sentence on said page (of Question 12) be replaced with following:

“Total taxable turnover for the month of June is ` 60 lakh exclusive of tax”

9 9.35 Following words in second last para given on said page be ignored:

“Procedure relating to NRTP has been discussed subsequently, but procedure for other
three persons has been covered at the Final level.”

12 12.64 Second sentence of the example given under heading “Rate of TCS” be replaced with
following:

“The operator would collect tax @ 1% of the net value of ` 1,000/- i.e. ` 10/- in case of
inter-State supplies.”

12 12.83 “Amendments made vide the Finance Act, 2020” given at the end of the Unit II be
referred at the below-mentioned link:

https://resource.cdn.icai.org/62334bos50452-cp12u2.pdf

3 22 22.6 & Example 4 on said pages has been modified. Modified example may be referred at
22.7 below-mentioned link:

https://resource.cdn.icai.org/62420bos121220-cp22.pdf

22.23 Example 13 on said page has been modified. Modified example may be referred at
below-mentioned link:

https://resource.cdn.icai.org/62420bos121220-cp22.pdf

4 5 5.27 In the second paragraph under section 47, the words ”In this respect,……under CBIC”
be substituted with the following:-
 “In this respect, Central Government has permitted the following class of importers to
make deferred payment of import duty:-

(i) Importers certified under Authorized Economic Operator programme as AEO

(Tier-Two) and AEO (Tier-Three)

(ii) Authorised Public Undertaking

AEO means Authorised Economic Operator approved by the Directorate of International

Customs under the CBIC. Authorised Public Undertaking means Authorised Public
Undertaking approved by the Directorate of International Customs under the CBIC.”

5 5.30 To be read at the end of discussion of section 47:-

“INTRODUCTION OF FACELESS ASSESSMENT

Trade facilitation is a key enabler for simplification of procedures and reduction of barriers
to the trade. In India, CBIC has been at the forefront of taking initiatives aimed at
catalysing economic development through transparency, harmonization, predictability
and automation in trade. The aim has been to reduce time and cost for the EXIM
community. This would help them become more competitive in the international arena.

In line with this momentum, CBIC has implemented next generation reforms through
Turant Customs, strongly enabled by technology. Turant Customs is a mega reform for
the ease of doing business.

This flagship initiative stands on the pillars of – Faceless, Contactless and Paperless
Customs. This reform will help India take a substantial leap forward towards faster and
cheaper Customs clearance of imported goods.

A key enabler in Turant Customs is Faceless Assessment. It has been rolled out in
phases and covered the entire country by 31st October 2020. This would enable uniform,
anonymous Customs assessments and reduce interface between the Trade and
Customs officers.

Faceless Assessment, a component of the Turant Customs programme, is a path

breaking initiative aimed at introducing anonymity and uniformity in Customs
assessments pan India.

Journey towards Faceless Assessment

Decades ago, goods imported into India were assessed for Customs duty at the border
by jurisdictional Customs officers on the basis of physical documents. Subsequent
introduction of computers led to automation of assessment. This was followed by a robust
digital risk management system (RMS) for Customs clearance with minimal checks, while
interdicting risk-prone cargo for assessment and examination. In 2012, the Customs Act
1962, was amended to introduce self-assessment by importers/ exporters themselves.
While digitisation helped in streamlining of procedures, yet disparities in assessment
prevailed due to interpretation issues. Customs officials recognised a dire need to
provide uniformity and certainty in assessment practices. It was also clear that anonymity
in assessment and load balancing of import documents that are required to be assessed
would bring about more efficiency and help improve the speed of Customs clearances
 across India. This was the trigger for the conceptualization and development of Faceless
Assessment.

What is Faceless Assessment?

Faceless Assessment is a major Customs Reforms where a Bill of Entry that is identified
for scrutiny (non-facilitated Bill of Entry) is assigned to an assessing officer who is
physically located at a Customs station, which is not the Port of Import in the Customs
Automated System. It separates the assessment process from the physical location of
Port of Import, using a technology platform.

Faceless Assessment (also referred to as virtual assessment or anonymised

assessment) uses a technology platform to separate the Customs assessment process
from the physical location of a Customs officer at the port of arrival. This measure will
bolster efforts to ensure an objective, free, fair and just assessment.

From an importer’s perspective, there will be no changes to the process of filing a Bill of
entry. He will continue to file his documentation including bill of entry and supporting
documents on the ICEGATE portal.

Key objectives of Faceless Assessment :

i. Anonymity in assessment for reduced physical interface between trade and Customs

ii. Speedier Customs clearances through efficient utilisation of manpower

iii. Greater uniformity of assessment across locations

iv. Promoting sector specific and functional specialisation in assessment”

5 5.72 First sentence of Q.31 be replaced with following:

“Mrs. X, an Indian resident (36 years old) who was on a visit to China, returned after 6
months.”

6 6.37 In the fourth sentence of the Question 13, the word “refund” be read as “duty drawback”.

6 6.43 Fourth sentence of Answer 13 be replaced with following:

“ where in the percentage of import duty to be paid as drawback allowed is “NIL”.”

Booklet on MCQs & Case Scenarios [January 2021 Edition]– Printed copy

Page No. Remarks

(printed
copy)

26 In MCQ 52, please read the word “refund” as “ITC”.

41 In MCQ 84, word “leviable” be replaced with “payable”.

66 In MCQ 4.1, please ignore the word “outward”.

 125 In answer key, answer to Q. 20.4 be replaced as follows:

(c) ` 9,000

148 In answer key, answers to Q. 27.2 & Q. 27.3 be replaced as follows:

27.2 (a) ` 50,000 under inverted duty structure

27.3 (b) ` 50,000

Statutory Update for November 2021 examination - Web-hosted copy

Students are advised to refer the amended Chapter 10-Tax Invoice; Credit and Debit Notes of Part-I: Goods and Services
Tax and Chapter 8: Foreign Trade Policy of Part-II: Customs & FTP, at the following link:

https://resource.cdn.icai.org/64947bos52210.pdf