GSP Update 10-24-11
>>> GSP Alert <<<
It is now “official.” U.S. Customs & Border Protection (“CBP”) issued a memorandum dated October 24, 2011, outlining GSP update refund procedures.
Importers can again claim GSP duty free treatment on consumption entries and warehouse withdrawals made on or after Nov. 5, 2011. Though somewhat complicated, refund procedures regarding previously filed entries mirror past practice. Specifically, for ABI entries made between Jan. 1, 2011 and Nov. 4, 2011, refunds (without interest) should be automatically generated so long as the SPI “A” flag was utilized at entry. Where an automatic refund is not received within 90 days, we recommend that CBP at the port of entry be contacted…