The Central Board of Indirect Taxes and Customs (CBIC) on August 03, 2023, published the Deferred Payment of Import Duty (Amendment) Rules, 2023 to further amend the Deferred Payment of Import Duty Rules 2016.
This shall come into force on August 03, 2023.
The following has been amended namely: -
• in rule 4 which states “Information about intent to avail the benefit of notification” 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 rule 6 which states “Manner of Payment” 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 duty for a bill of entry within the due date in terms of rule 4.
(ii) Paid the differential duty for the same bill of entry along with the interest on account of reassessment within one day (excluding holidays)
[Notification No. 58/2023]
