CBIC extends interest waiver on customs duty payable via ECL till Apr 13

New Delhi: The CBIC has extended the interest waiver on customs duty payable by importers and exporters through the Electronic Cash Ledger (ECL) till April 13. An upgraded Customs duty payments system was launched by the Central Board of Indirect Taxes and Customs (CBIC) on April 1.

'No interest would be charged on customs duty paid through ECL till April 10'

After the members of the export-import trade complained of difficulties in making duty payments via ECL in the automated system, CBIC last week said that no interest would be charged on customs duty paid through ECL till April 10.

In a notification dated April 11, it said that the interest on duty payable in respect of goods where payment is to be made from ECL will be exempt till April 13. Through the Customs (Waiver of Interest) Second Order dated April 11, the CBIC waived the whole of interest payable for the period from April 11 to April 13, in respect of such goods, where the payment of import duty is to be made from the amount available in electronic cash ledger.

AMRG and Associates Senior Partner Rajat Mohan said that technical glitches in the ECL payments for customs forced the government to extend the interest waiver till April 13.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)