The CBIC vide Notification No. 75/2021-Customs (N.T.) dated September 23, 2021 has notified Electronic Duty Credit Ledger Regulations, 2021 (“the Regulation”) specifying the manner in which it shall issue duty credit for the Scheme for Remission of Duties and Taxes on Exported Products or the Scheme for Rebate of State and Central Taxes and Levies (“RoDTEP/RoSCTL” or “the Schemes”).
(a) in lieu of remission of any duty or tax or levy, chargeable on any material used in the manufacture or processing of goods or for carrying out any operation on such goods in India that are exported; or
(b) in lieu of such other financial benefit subject to such conditions and restrictions as may be specified therein.
Few major highlights of the Regulation are as under:
Regulation 3: Issuance of duty credit in the scroll. – (1) A shipping bill or a bill of export, presented on or after the January 01, 2021 and having a claim of duty credit under RoDTEP or RoSCTL, shall be processed in the customs automated system.
Once the claim is allowed, a scroll for duty credit will be generated by the proper officer in the customs automated system. Separate scrolls will be generated for each Scheme.
The scroll details, including the details of shipping bill or bill of export, duty credit allowed and date of generation of scroll, shall be visible in the customs automated system to the exporter who is the recipient of such duty credit.
Regulation 4: Creation of e-scrip in the ledger. – The exporter shall have the option to combine the duty credits under a particular Scheme, allowed to him in one or more shipping bills or bills of export, and to carry forward the said duty credits to create an e-scrip for that Scheme in the ledger, customs station-wise according to the customs station of export, within a period of one year from the date of generation of the scroll in the customs automated system.
Provided that if the exporter does not exercise the said option of creating the e-scrip within the said period of one year, duty credit in each scroll will be combined customs station-wise for each Scheme and will be automatically created by the customs automated system as a single e-scrip for duty credit for that Scheme, for each customs station, in the ledger of the said exporter.
Regulation 6: Use and validity of e-scrip. – The duty credit available in the e-scrip in the ledger shall be used for payment of duties of Customs specified in the First Schedule to the Customs Tariff Act, 1975.
The e-scrip shall be valid for a period of one year 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.
The Notification can be accessed at: https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-nt2021/csnt75-2021.pdf