Reetu | Apr 6, 2023 |
GSTN Update: Know the 2 New ECL updates made by CBIC
The Central Board of Indirect Taxes and Custom(CBIC) has notified the latest updates on Electronic Cash Ledger (ECL) via their official twitter account.
As per the new updates, Two enablements have been made available for users:
On the Contrary, CBIC has notified the phased implementation of Electronic Cash Ledger in the Customs w.e.f 1st April.
Electronic Cash Ledger (ECL) functionality is envisaged in Section 51A of the Customs Act, 1962. It provides enabling provision whereby the importer, exporter or any person liable to pay duty, fees etc., under the Customs Act, has to make a non-interest bearing deposit with the Government for the purpose of payment.
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