On October 16th, 2018, the CBP issued additional guidance for importers which revised previous CBP guidance on the implementation of the Craft Beverage Modernization Act (CBMA) and provided importers with pointed specifics on how to take advantage of reduced tax rates on imported alcohol beverages.   PROCEDURES AND REQUIREMENTS First, the CBMA flag should be used to identify entry lines for which the importer has received a CBMA assignment from a foreign producer/assigning entity and for which the CBMA rate is claimed.  Effective immediately, importers claiming a reduced tax rate or tax rate incorporating applicable tax credits as permitted by the CBMA (hereinafter “CBMA rate”) should do so at the time of entry summary. If and importer has not already been using the CBMA flag to flag entries, going forward, importers will use the CBMA flag to identify entry lines for which the CBMA rate is claimed and declare the lower tax rate. Additionally, importers should only use the CBMA flag when claiming the CBMA rate, whether at the time of entry summary filing or the filing of a Post Summary Corrections (“PSC”). For entries filed since January 1, 2018 that have not liquidated and for which an importer wants to make a CBMA claim, effective immediately: If not flagged, importers should file a PSC with the CBMA flag and the CBMA rate. If flagged but the CBMA rate has not been claimed, importers should file another PSC with the CBMA rate and the CBMA flag. For any entries filed since…