Electronic Duty
Credit Ledger Regulations, 2021 – Validity Period of E-scrip Extended to Two
years from One Year
[Notification
No. 79/2022-Customs (N.T.) dated 15 September 2022]
G.S.R…(E).- In exercise of the powers conferred by section 51B read
with section 157 of the Customs Act, 1962 (52 of 1962), the Central Board of
Indirect Taxes and Customs, hereby makes the following regulations to amend the
Electronic Duty Credit Ledger Regulations, 2021, namely:-
Short
title and commencement – (1) These regulations may be called the Electronic Duty
Credit Ledger (Amendment) Regulations, 2022.
(2)
They shall come into force on the date of their publication in the Official
Gazette.
In
the Electronic Duty Credit Ledger Regulations, 2021,-
in
regulation 6, in sub-regulation (2), for the words “one year”,
the words “two years”, shall be substituted;
in
regulation 7, in sub-regulation (3), for the words “one year”,
the words “two years”, shall be substituted.
[F.
No. CBIC-140605/12/2021-O/o Dir(Drawback)-CBEC]
[The
amended sub-regulations of the Notification No. 75/2021-Customs (N.T.)
dated 23 September 2021 are giving below. The portions in
strikethrough are substituted]
[Please see
BIG’s Easy Reference Customs Manual Feb 2022 Edn.
@p.259 for detail]
6. Use and validity
of e-scrip. - (1) The duty credit available in the e-scrip in the ledger shall be used for payment of duties of Customs
specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975).
(2) The e-scrip shall be valid for a period of two years one year from the date of its creation in the ledger and any duty credit in the said e-scrip remaining unutilized at the end of this period shall lapse.
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7. Transfer of
duty credit in e-scrip. - (1) Transfer of duty credit in e-scrip shall be allowed within the customs automated system from the ledger of a person to the ledger of another person who is a holder of an Importer-exporter Code
Number issued in terms of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992).
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(3) The period of validity of the e-scrip, of two
years one year from its creation, shall not change on account of transfer of the e-scrip.
**