Customs Alert: Pay Deferred Customs Duties for April returned BoE Today to Avoid Interest
The Importers are advised to settle these dues on time to avoid further financial obligations. The CBIC has pointed out that delay in payment after the due date will automatically invite interest, according to the relevant provisions
The Central Board of Indirect Taxes and Customs ( CBIC ) has issued an important reminder to eligible importers availing the deferred payment facility for customs duty. As per the official notice, all deferred customs duty payments for Bills of Entry (BoE) returned for payment between April 16, 2025, and April 30, 2025, must be cleared by May 1, 2025, to avoid the accrual of...
The Central Board of Indirect Taxes and Customs ( CBIC ) has issued an important reminder to eligible importers availing the deferred payment facility for customs duty. As per the official notice, all deferred customs duty payments for Bills of Entry (BoE) returned for payment between April 16, 2025, and April 30, 2025, must be cleared by May 1, 2025, to avoid the accrual of interest charges.
The Importers are advised to settle these dues on time to avoid further financial obligations. The CBIC has pointed out that delay in payment after the due date will automatically invite interest, according to the relevant provisions.
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This notice is a final reminder for importers utilizing the deferred payment facility to check their pending duties and settle the same by the end of the day. As per rule 5 of Deferred Payment of Import Duty Rules rules, if the last day is a holiday, then the due date would be the next day following the holiday.
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Deferred Duty Payment
Postponed duty payment is a mechanism to delink payment of duty from Customs clearance. It's in line with the principle 'Clear first-Pay later'. It's proposed for ensuring hassle-free wharf to warehouse movement for the convenience of just-in-time manufacturing.
The pre-condition for availing this benefit is to declare D in the Bill of entry (B/E). Further, there should be no default in 90 days/no arrear. In case of default, this facility shall not be restored unless the eligible importer has paid the duty in full along with the interest.
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