CBIC Introduces EMI Scheme: Key FAQs for Manufacturer-Importers Explained:

CBIC Introduces EMI Scheme: Key FAQs for Manufacturer-Importers Explained The Central Board of Indirect Taxes and Customs (CBIC) has recently issued a Frequently Asked Questions (FAQs) clarifying the newly launched Eligible Manufacturer Importer (EMI) scheme for trade and industry. According to CBIC, the EMI Scheme is a trade facilitation initiative designed to expand the duty deferral framework to a new category of manufacturer-importers.

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Introduction of EMI Scheme The government is backing its Make in India programme with a new class of "Eligible Manufacturer Importers". The CBIC hopes this will lower compliance costs, improve cash flow by delaying payments, and push manufacturers toward Authorised Economic Operator (AEO) status. Benefits of the EMI Scheme One of the main advantages of the EMI scheme is the ability to defer import duty payments, meaning goods can be cleared without paying the duty upfront. The payment is required to be made on a monthly basis instead of transaction-wise. The FAQs are divided into three sections. Section 1: Introduction, Section 2: Eligibility Criteria, Section 3: Application Process and Manner of Filing.

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It includes all important information, such as who is eligible under the scheme, whether providers can apply for the EMI scheme, whether there is a turnover threshold for the applicants and more. To know more details about the Eligible Manufacturer Importer (EMI) scheme, refer to the mentioned PDF:-