Background:
Earlier, the CBIC vide Notification No. 75/2021-Customs (N.T.) dated September 23, 2021 (“NN 75/2021- Customs”) has notified Electronic Duty Credit Ledger Regulations, 2021.
Notification:
Now, the CBIC vide Notification No. 79/2022-Customs (N.T.) dated September 15, 2022 has issued amendment in NN 75/2021- Customs, in a following manner:
- Substituted the words “one year” with “two years” in Regulation 6(2):
“6. Use and validity of e-scrip. –
(2) The e-scrip shall be valid for a period of two years from the date of its creation in the ledger and any duty credit in the said e-scrip remaining unutilized at the end of this period shall lapse.”
- Substituted the words “one year” with “two years” in Regulation 7(3):
“7. Transfer of duty credit in e-scrip. –
(3) The period of validity of the e-scrip, of two years from its creation, shall not change on account of transfer of the e-scrip.”
The Notification can be accessed at: https://taxinformation.cbic.gov.in/view-pdf/1009503/ENG/Notifications
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