CBIC Extends Deposit Exemption for Certain Goods under Section 51A(4) of Customs Act until January 20, 2024. [Read Order]

The Central Board of Indirect Taxes and Customs (CBIC), vide Notification No. 88/2023-Customs (N.T.) dated November 29, 2023, extended the exemption from deposits for specified goods under Section 51A(4) of the Customs Act, 1962, till January 20, 2024.

The CBIC is in the position of implementing the different indirect tax regulations to make sure that the taxpayers comply with them. Besides, as a support to legal trade and commerce, it is also in charge of collecting and managing indirect tax revenue, combating smuggling and other types of tax evasion.

As per the Principal Notification No.19/2022-Customs (N.T.) dated the 30th March 2022, specific goods were exempted under Section 51A(4) of Customs Act, 1962. Some of them are goods imported or exported in customs stations where the customs automated system is not in place, accompanied baggage.etc.

This extension of exemption applies to following:

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

This exemption is granted by CBIC under the powers conferred by sub-section (4) of section 51A of the Customs Act, 1962, and is deemed necessary and expedient.

The current notification states as follows: “In exercise of the powers conferred by sub-section (4) of section 51A of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs, on being satisfied that it is necessary and expedient to do so, hereby makes the following further amendments to the Notification No.19/2022-Customs (N.T.) dated the 30th March, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (ii) vide S.O. 1512 (E), dated the 30th March, 2022, namely, –

In the said notification, in para 2, for the words, ‘1st December, 2023′, the words ’20th January, 2024’ shall be substituted.”

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