NEW DELHI: Systems-related glitches, following the mixing of two platforms, resulted in double counting of gold and silver shipped from particular financial zones (SEZs) to the home space, inflating the import of yellow metallic by $5 billion in Novemer, an issue. which has largely been fastened, the federal government mentioned on Thursday.
While round 2.5 lakh export and import associated knowledge is reported to the Directorate General of Commercial Intelligence & Statistics (DGCI&S) from wherever between 300 and 500 places day by day, the mixing of Indian Customs Electronic Gateway or ICEGATE with NSDL platform, that offered knowledge on SEZs triggered the error.
NSDL knowledge was despatched to DGCI&S straight till July, when knowledge from 110 places was despatched to ICEGATE. Following the mixing, the payments of entry when gold and silver entered an SEZ and an element of it being offered to the home tariff space have been captured individually, leading to double counting. Even now all items in SEZs haven’t absolutely migrated to the brand new system.
In an announcement, the commerce division mentioned revisions are performed periodically, as is the case for all statistics. “The revision is based on data that’s received late, amendments in the respective months and qualitative corrections wherever required,” it mentioned.
Besides, a panel comprising officers from DGCI&S and DG Systems from the customs facet has been tasked with making certain a sturdy system for knowledge assortment and collation. While commerce numbers have been revised for April-Nov 2024, govt is checking if revision from April 2023 is required when the change started.
