Which organisation launched the Indian Customs Compliance Information Portal (CIP) for providing free access to information on all Customs procedures and regulatory compliance for nearly 12,000 Customs Tariff items in the year 2021?

Key Points

• The Central Board for Indirect Taxes & Customs (CBIC) launched the Indian Customs Compliance Information Portal (CIP) in 2021.
• The portal provides free access to information on all Customs procedures and regulatory compliance for nearly 12,000 Customs Tariff items.
• This initiative aims to facilitate ease of doing business and improve transparency in customs processes.
• The CIP is a comprehensive repository that assists importers and exporters in understanding the requirements for their specific items.

Additional Information

• The Central Board for Indirect Taxes & Customs (CBIC) is a part of the Department of Revenue under the Ministry of Finance, Government of India.
• It is responsible for administering Customs, Central Excise, Service Tax, and Narcotics in India.
• The CBIC plays a crucial role in formulating policies related to the levy and collection of customs duties and central excise duties and in preventing smuggling.
• The launch of the CIP is part of the CBIC's ongoing efforts to enhance trade facilitation and ensure compliance with customs regulations.