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Informist, Tuesday, Mar. 17, 2026

 

--CBIC issues norms on handling returned cargo on closure of Strait of Hormuz

--CBIC OKs temporary unloading, storage of cargo destined for foreign ports

--CBIC OKs unloading, storing cargo destined for foreign ports till Mar 31

 

NEW DELHI – The Central Board of Indirect Taxes and Customs has announced more measures to support and facilitate trade affected by the closure of the Strait of Hormuz and maritime disruptions from the West Asia war. The department Tuesday allowed temporary unloading and storage of cargo destined for foreign ports that had to be diverted to an Indian port due to maritime security concerns, disruption of international shipping routes, or other logistical exigencies.

 

According to the circular, Indian authorities will have to ensure such cargoes are unloaded and stored for the limited purpose of onward international transhipment or re-export and are not cleared for domestic consumption or diverted into the Domestic Tariff Area. The relaxation will stay in place till Mar. 31. 

 

The CBIC also eased norms for Indian vessels returning to India, with or without calling on any foreign port, due to the closure of the Strait of Hormuz or any other maritime disruption. Tweaking its previous notification, the department said that vessels departed from any Indian port will be allowed to land at a different Indian port after due verification. On Mar. 8, the department had said that vessels can only park at the same port of departure, provided they did not cross India's territorial waters and had not called any foreign ports.

 

As per the latest circular, at the request of the exporter, customs officials at the port of landing will communicate with the customs formation at the port of export to verify whether any export incentives, such as the Integrated Goods and Services Tax refund, drawback or other benefits have been disbursed. "The port of export shall also take necessary steps to ensure reversal or recovery of export incentives, if the same have already been disbursed," it said. 

 

India, along with its peers, has been facing trade constraints after Israel and the US launched joint military strikes on Iran on Feb. 28, prompting Tehran to hit back at the Jewish state and at US military installations around the Persian Gulf region. Iran has also closed the Strait of Hormuz, a narrow waterway connecting the Gulf to the Arabian Sea and the Indian Ocean, resulting in a sharp rise in crude oil and natural gas prices.

 

A fifth of global crude oil supply flows through the strait, making it a crucial trade route for both India's exports and imports. Commerce Secretary Rajesh Agrawal had Monday said that the government was planning to roll out more measures to support exporters this week in the wake of the West Asia conflict, which is affecting shipping schedules and costs, and has led to a hike in insurance premiums and bottlenecks to supply chains.  End

 

Reported by Priyasmita Dutta

Edited by Ashish Shirke

 

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