The CBIC vide Notification No. 58/2023-Customs (N.T.) dated August 03, 2023 has amended the Deferred Payment of Import Duty Rules, 2016, using the powers granted by the Customs Act, 1962. The amendment, titled the Deferred Payment of Import Duty (Amendment) Rules, 2023, takes effect upon publication in the Official Gazette.
Under these new rules, two provisos are introduced:
Rule 4:
“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.”
Rule 6:
“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 the 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).
The Notification can be accessed at: https://taxinformation.cbic.gov.in/view-pdf/1009816/ENG/Notifications
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