Deferred Payment of Import Duty Rules 2016

· Public Sector Allowed Deferred Payment of Customs Duty without going through AEO Approval Procedure

· Rule 4 Dropped to Avoid Approval from Customs Commissioner for Availment of Sec 47(1) Procedure, Simplification of Procedure

[Notification No.79/2020-Customs (N.T.) dated 19 August 2020]

Amendment of Notification No.134/2016-Customs (N.T.) dated 02.11.2016 for omitting Rule 4 of the Deferred Payment of Import Duty Rules, 2016

G.S.R… (E). - In exercise of the powers conferred by proviso to sub-section (1) of section 47 and section 156 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following rules further to amend the Deferred Payment of Import Duty Rules, 2016, namely:-

1. Short title and commencement:-

(1) These rules may be called the Deferred Payment of Import Duty (Amendment) Rules, 2020.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Deferred Payment of Import Duty Rules, 2016, Rule 4 shall be omitted.

3. Rules 5 to 8 shall be re-numbered as Rules 4 to 7, respectively.

[F. No 450/81/2016- Cus IV]

[Notification No.78/2020-Customs (N.T.) dated 19 August 2020]

Amendment of Notification No.135/2016-Customs (N.T.) dated 02.11.2016, for Extension of Deferred Payment of Import Duty to Authorised Public Undertakings

G.S.R… (E). - In exercise of the powers conferred by proviso to sub-section (1) of section 47 of the Customs Act, 1962 (52 of 1962), the Central Government, hereby makes the following amendment in the notification of the Government of India, Ministry of Finance (Department of Revenue) No. 135/2016-Customs (N.T.), dated the 2^nd November, 2016, published vide number G.S.R. 1038(E), dated the 2^nd November, 2016 namely:—

2. In the said notification, -

(i) after serial no. (i), the following entry shall be inserted, namely:-

“(ii) Authorised Public Undertaking. ” ;

(ii) for the “Explanation” to the said notification, the following “Explanation” shall be substituted, namely :-

“Explanation : For the purpose of this notification:-

(i) AEO means Authorised Economic Operator;

(ii) Authorised Public Undertaking means Authorised Public Undertaking,

approved by the Directorate of International Customs under the Central Board of Indirect Taxes and Customs.”

3. This notification shall come into force with effect on the date of publication in the Official Gazette.

[F. No 450/81/2016- Cus IV]