The Central Board of Indirect Taxes and Customs (CBIC) vide notification No. 58/2023-Customs (N.T.) issued on 3rd August 2023 has notified the amendment of Deferred Payment of Import Duty Rules, 2016.
The Central Government, using the authority granted by the proviso to sub-section (1) of Section 47 and section 156 of the Customs Act, 1962, has introduced the subsequent regulations as an amendment to the Deferred Payment of Import Duty Rules, 2016.
In the Deferred Payment of Import Duty Rules, 2016, (hereinafter referred to as the said rules), in rule 4, the following proviso shall be inserted, namely: –
“Provided that, where the Central Government considers it necessary and expedient, it may, under exceptional circumstances, and for reasons to be recorded in writing, allow payment to be made on a different due date.”
In the said rules, in rule 6, the following proviso shall be inserted, namely: –
“Provided further that the eligible importer shall be permitted to make the deferred payment if he has-
(i) paid the duty for a bill of entry within due date in terms of rule 4; and
(ii) paid the differential duty for the same bill of entry along with the interest on account of reassessment within one day (excluding holidays).”
The amendment came into force on 3rd August 2023.
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