CBIC continues exemption from deposits into ECL under Customs Act Section 51A(4) until february 29th 2024

The Central Board of Indirect Taxes and Customs ( CBIC ) has extended the period the exemption from deposits into the Electronic Cash Ledger ( ECL ) under Section 51A(4) of Customs Act, 1962 until February 29th 2024. The same has been officially conveyed through the notification no. 05/2024-Customs (N.T.) dated January 19, 2024,

This extension of exemption applies to:

1. Goods imported or exported in customs stations where customs automated systems are not in place.
2. Goods imported or exported in International Courier Terminals.
3. Accompanied baggage.
4. Deposits other than those used for making electronic payments of:
5. Any duty of customs, including cesses and surcharges levied as duties of customs.
6. Integrated tax.
7. Goods and Service Tax Compensation Cess.
8. Interest, penalty, fees, or any other amount payable under the Act or Customs Tariff Act, 1975 ( 51 of 1975 ).

The Section 51A of Customs Act discusses ways to pay taxes, interest, penalties, and other fees. The central board has the authority to make essential changes as needed under section 51A(4). The current notification was sent out in the same circumstance.

The board has also notified the extension of the exemption period for the specified goods deposits under the Section 51A(4) of Customs Act until March 1st 2024.

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