24 July 2021: PIB Summary & Analysis

TABLE OF CONTENTS

1. Ashadha Purnima-Dhamma Chakra Day
2. INS AIRAVAT
3. Central Board of Indirect Taxes and Customs (CBIC)

1. Ashadha Purnima-Dhamma Chakra Day

Context:

PM addressed the nation on Ashadha Purnima-Dhamma Chakra Day.

Details:

• Observed on full moon day in Ashadha month of the Hindu calendar, the Dhamma Chakra day is celebrated all over the world to commemorate the first sermon that Gautama Buddha gave to his five ascetic disciples.
• This day is also aptly observed as Guru Purnima by both Buddhists and Hindus as a day to mark reverence to their gurus.

Read more on Buddhism in the link.

2. INS AIRAVAT

Context:

INS Airavat reaches Jakarta with covid relief supplies to Indonesia.

Details:

• Indian Naval Ship Airavat arrived at the Port of Jakarta, Indonesia carrying essential COVID-19 relief supplies. 

INS Airavat:

• INS Airavat is a Landing Ship Tank (Large) type of ship with a primary role to carry out amphibious operations and is capable of carrying multiple tanks, amphibious vehicles and other military cargo. 
• The ship is also deployed for HADR relief operations and has been a part of various relief efforts across the Indian Ocean Region.

3. Central Board of Indirect Taxes and Customs (CBIC)

Context:

CBIC reduces compliance burden by abolishing renewals of licenses/registrations.

Details:

• The Central Board of Indirect Taxes and Customs (CBIC) has w.e.f. 23.07.2021 abolished the requirement of periodic renewals of Licence/Registration issued to Customs Brokers and Authorised Carriers. 
• This would greatly help reduce the compliance burden cast on the trade, which had to otherwise make applications and submit numerous documents to renew their licenses/registrations.
• The net effect of the amendments carried out to the Customs Brokers Licensing Regulations, 2018 and Sea Cargo Manifest and Transhipment Regulations, 2018, is that the existing licenses/registration would have a lifetime validity.
• Another change that has been introduced is to allow a licensee/registration holder to voluntarily come forward to surrender his license/registration if s/he wishes. 
• Also, a provision has been made to invalidate licences/registrations that are inactive for more than a year. 
• These steps would prevent misuse of dormant licences/registrations by unscrupulous persons who misdeclare import or export or wrongly obtain export refunds/incentives and when caught, put the burden on the original license/registration holder. 
• At the same time, the interest of genuine trade is safeguarded by empowering the Commissioners of Customs to revalidate the licence/registration in case the inactivity is for genuine reasons.

Read previous PIB here.

July 24th, 2021, PIB:- Download PDF Here