On Friday, March 23, 2018, H.R. 1625 (Consolidated Appropriations act, 2018) was enacted.
The bill includes the renewal of the Generalized System of Preferences (GSP) retroactive to January 1, 2018. The new expiration date will be December 31, 2020.
The law was enacted on the 23rd of March, 2018 and will become effective on the 22nd of April, 2018. After the effective date, US Customs will begin to process refunds of GSP duties levied during the lapse period.
As in the past renewals with GSP:
- For claims on imports with an entry date prior to expiration, US Customs will continue to accept post-import GSP claims via Post Summary Corrections (PSC) and protest.
- For imports with an entry date during the lapse and transmitted without the GSP indicator, importers may request liquidation or re-liquidation no later than 180 days after the date of the enactment.
Additional information will be forthcoming. However, US Customs does note that post-importation GSP claims on these entries may not be made via PSC or protest and failure to request GSP within the 180-day period is not remediable via protest.
For a full read of H.R. 1625 go here
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