Customs (Waiver of Interest) Order, 2023

Ref. No.: GJEPC/MEMBER/2023-24/ 10th April, 2023

To,

All Members of the Council

Sub : Customs (Waiver of Interest) order, 2023

Dear Members,

This has reference to Customs order No.01/2023-customs dtd 6th April 2023 issued in regard
Customs (waiver of Interest) order, 2023

As per Electronic cash ledger (ECL) regulation 2022 notified vide No. 20/2022-Customs (N.T) dt. 30.03.2022 importer, exporter or any person liable to pay duty, fees etc., under the Customs Act, has to make a non-interest-bearing deposit with the Government for the purpose of payment, the Board has decided to enable ECL from 01.04.2023.

Due to technical difficulties on the common portal and with the authorised banks from 1.4.2023 onward the interest was arising on the Bill of Entry filed from 01.04.2023. The members may be noted that the Central Board of Indirect Taxes and Customs, hereby waives the whole of interest payable for the period from 1st April 2023 upto and including the 10th April, 2023, in respect of such goods, where the payment of import duty is to be made from the amount available in electronic cash ledger. In respect of Bills of Entry for which import duty payment has already occurred and integrated in ICES during the said period, a claim for refund of interest shall be subject to the provisions of Section 27 of the said Act.

The Members can download the circular from the below mentioned link regarding Electronic cash ledger and customs (waiver of interest) order2023

Thanking you.

Yours sincerely,

Sd/- SABYASACHI RAY EXECUTIVE DIRECTOR

Encl:
CUSTOMS ORDER NO.01/2023-CUSTOMS (N.T.) https://gjepc.org/download/Custom_Order_01_2023_dtd-06Apr23-(waiver%20of%20interest).pdf

Circular No.09 /2023-Customs dtd 30th March 2023 https://gjepc.org/download/Circular-No-09-2023(Phased%20implementation%20of%20ECL).pdf