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Relaxation of KYC norms- (Ministry of Finance ) (26 Apr 2016)

MANU/CUCR/0014/2016

Customs

The Central Board of Customs and Excise continued easing ‘Know Your Customer’ requirements for individuals. In its latest update, the Board received representations on problems when the document for proof of identity mentions an address other than the one at which the individual is residing.

As such, where the proof of present address is not available with the individual, the proof of identity collected at the time of delivery along with the address recorded for the delivery purpose by the courier companies would suffice for KYC verification.

Tags : CBEC CUSTOMS KYC ADDRESS

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