The Central Board of Indirect Taxes (CBIC) on Wednesday notified the amendment in the notification of the Government of India, Ministry of Finance (Department of Revenue) No. 135/2016-Customs (N.T.), dated the 2nd November 2016 which elaborates on importers certified under Authorized Economic Operator programme as AEO (Tier-Two) and AEO (Tier-Three), as eligible importers for the deferred payment of duty scheme.
In the said notification, after serial no. (i), the “(ii) Authorised Public Undertaking” entry shall be inserted.
Further, for the “Explanation” to the said notification, “AEO means Authorised Economic Operator; Authorised Public Undertaking means Authorised Public Undertaking”, Explanation shall be substituted, approved by the Directorate of International Customs under the Central Board of Indirect Taxes and Customs.”
The notification shall come into force on August 19, 2020.
Read full text of the Notification Click here.