In a notification dated April 11, it stated the curiosity on responsibility payable in respect of products the place fee is to be created from ECL shall be exempt until April 13, 2023. (Representative picture)
An upgraded Customs responsibility funds system was launched by the Central Board of Indirect Taxes and Customs (CBIC) on April 1.
The CBIC has prolonged the curiosity waiver on customs responsibility payable by importers and exporters by way of the Electronic Cash Ledger (ECL) until April 13.
An upgraded Customs responsibility funds system was launched by the Central Board of Indirect Taxes and Customs (CBIC) on April 1.
After the members of the export-import commerce complained of difficulties in making responsibility funds through ECL within the automated system, CBIC final week stated that no curiosity could be charged on customs responsibility paid by way of ECL until April 10.
In a notification dated April 11, it stated the curiosity on responsibility payable in respect of products the place fee is to be created from ECL shall be exempt until April 13, 2023.
Through the Customs (Waiver of Interest) Second Order dated April 11, the CBIC waived the entire of curiosity payable for the interval from April 11 to April 13, in respect of such items, the place the fee of import responsibility is to be created from the quantity accessible in digital money ledger.
AMRG & Associates Senior Partner Rajat Mohan stated technical glitches within the ECL funds for customs compelled the federal government to increase the curiosity waiver until April 13.
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