CBIC Notifies Eligible Importers may Avail Benefit of Deferred Import Duty Payment without Intimation

The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday notified the Deferred Payment of Import Duty (Amendment) Rules, 2020, which seeks to amend Deferred Payment of Import Duty Rules, 2016.

In the Deferred Payment of Import Duty Rules, 2016, Rule 4, which pertains to “Information about intent to avail benefit of notification” shall be omitted.

Rule 4 says, “an eligible importer who intends to avail the benefit under sub-section (1) of section 47 of the Act shall intimate to the Principal Commissioner of Customs or the Commissioner of Customs, as the case may be, having jurisdiction over the port of clearance, his intention to avail the said benefit.

The Principal Commissioner of Customs or the Commissioner of Customs, as the case may be, shall, upon being satisfied with the eligibility of the importer to pay the duty under these rules, allow the eligible importer to pay the duty by due dates specified in rule 5.”

“Rules 5 to 8 shall be re-numbered as Rules 4 to 7, respectively,” the notification said.

The notification will be enforced from 19 August, 2020.