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After the members of the export-import commerce complained of difficulties in making obligation funds through ECL within the automated system, CBIC final week mentioned that no curiosity could be charged on customs obligation paid by means of ECL until April 10.
In a notification dated April 11, it mentioned the curiosity on obligation payable in respect of products the place fee is to be constructed from ECL might be exempt until April 13, 2023.
By means of the Customs (Waiver of Curiosity) 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 obligation is to be constructed from the quantity out there in digital money ledger.
AMRG & Associates Senior Associate Rajat Mohan mentioned technical glitches within the ECL funds for customs compelled the federal government to increase the curiosity waiver until April 13.
