CBIC Extends Exemption From Maintaining Deposits In ECL Under Customs Act Till 31st March, 2023
The Central Board of Indirect Taxes and Customs (CBIC) has extended the exemption from maintaining deposits in the Electronic Cash Ledger (ECL) under the Customs Act till March 31, 2023.The Board, empowered under section 51A of the Customs Act, 1962, has amended notification No. 47/2022-Customs (NT) dated May 31, 2022.The CBIC exempted deposits from the provisions of Section 51A of the...
The Central Board of Indirect Taxes and Customs (CBIC) has extended the exemption from maintaining deposits in the Electronic Cash Ledger (ECL) under the Customs Act till March 31, 2023.
The Board, empowered under section 51A of the Customs Act, 1962, has amended notification No. 47/2022-Customs (NT) dated May 31, 2022.
The CBIC exempted deposits from the provisions of Section 51A of the Customs Act until November 29, 2022, according to notification No. 47/2022-Customs (NT) dated May 31, 2022.
As per Section 51A of the Customs Act, 1962, every assessee has to maintain an electronic cash ledger in the customs portal. Every deposit made using an authorized mode of payment towards duty, interest, penalty, fee, or any other sum payable by a person under the provisions of the Customs Act, the Customs Tariff Act, 1975, or any other law in force or the rules and regulations made thereunder shall be credited to that person's ECL, subject to conditions and restrictions.
Notification No. 98 /2022-Customs (N.T.)
Date: 29.11.2022
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