New Delhi, Feb. 3 -- The Centre has introduced a major simplification to customs procedures through an amendment in the Finance Bill 2025, aimed at enhancing ease of doing business for importers and exporters. The reform allows businesses to voluntarily revise customs declarations after clearance-either to pay additional duty or claim refunds-without undergoing time-consuming appeal processes.

According to Central Board of Indirect Taxes and Customs (CBIC) chairperson Sanjay Kumar Agarwal, the amendment enables businesses to self-assess their tax obligations and make corrections if they discover discrepancies. This change eliminates bureaucratic hurdles, offering a direct mechanism for compliance.

Read this | Budget lowers India's avera...