CBIC Waives Interest On Customs Duty Payable By Importers And Exporters Through ECL Till April 13, 2023

The Central Board of Indirect Taxes and Customs (CBIC) has extended the interest waiver on customs duty payable by importers and exporters through the Electronic Cash Ledger (ECL) till April 13, 2023.

The Board has notified the Customs (Waiver of Interest) Third Order, 2023.

The waiver contained in the order shall take effect if the three conditions are fulfilled.

Firstly, the duty and interest have been paid within 3 days (including holidays) from the date of the removal of such system inability at the Common Portal, which shall be certified by the DG Systems.

Secondly, the importer undertakes at the port of import not to pass on the incidence of such interest paid.

Lastly, the provisions of Section 27 of the Customs Act of 1962 shall govern the consequential refund of such interest paid.

The waiver was extended due to technical issues with the authorized banks and the Common Portal, which were resolved as they arose by the Directorate General of Systems, and the new framework stabilized.

The Board stated that technical difficulties had, to a large extent, been resolved by April 13, 2023.

Order No. 3/2023-Customs (N.T.)

Date: 17th April 2023

Click Here To Read The Order