Cargo Breaking News
The Central Board of Indirect Taxes and Customs (CBIC) released the National Time Release Study (NTRS) 2024 report which aims to present a quantitative measure of cargo release time. It has noted that here has been 6% reduction in release time in case of Airport Cargo Complex (ACC) and 50% reduction in case of Integrated check posts (ICPs) compared to the corresponding period in 2023. On export end, the study underlined that the time of the arrival of the cargo at the customs station/port to its regulatory clearance, marked by grant of Let Export order (LEO) has reduced for ICDs and ACCs in 2024 vis a vis 2023. In absolute terms, the average release time taken in the export Customs clearance regulatory process, in 2024, stood at 22:49 hours for seaports, 30:20 hours for ICDs, 3:50 hours for ACCs and 5:28 hours for ICPs. Whereas, for imports, the study indicated that, out of the 15 ports covered under the purview of the study, 9 ports have witnessed a reduction in the average release time in 2024 vis-a-vis previous year.
