CBIC notifies Amendment of Deferred Payment of Import Duty Rules 2016:

CBIC notifies Amendment of Deferred Payment of Import Duty Rules 2016 The Central Board of Indirect Taxes and Customs (CBIC) has notified the amendment of Deferred Payment of Import Duty Rules 2016 via issuing Notification. The Notification Stated, "In exercise of the powers conferred by proviso to sub-section (1) of section 47 and section 156 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following rules further to amend the Deferred Payment of Import Duty Rules, 2016." These rules may be called the Deferred Payment of Import Duty (Amendment) Rules, 2023. They shall come into force on the date of their publication in the Official Gazette. In the Deferred Payment of Import Duty Rules, 2016, (hereinafter referred to as the said rules), in rule 4, 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 the said rules, in rule 6, 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 the duty for a bill of entry within due date in terms of rule 4; and (ii) paid the differential duty for the same bill of entry along with the interest on account of reassessment within one day (excluding holidays).” For Official Notification Download PDF Given Below: