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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> Ministry of Finance  Customs (Waiver of Interest) Second Order, 2023 MANU/CUSN/0029/2023 - (11 Apr 2023) </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE">WHEREAS, the Central Board of Indirect Taxes and Customs, had by Order No. 1/2023 - Customs (N.T.) dated 06.04.2023 made the Customs (Waiver of Interest) Order, 2023 (hereafter referred as the said Order) waiving the whole of interest payable under sub-section (2) of section 47 of the Customs Act,1962 (hereafter referred as said Act) for the period from 1st April, 2023 upto and including the 10th April, 2023, in respect of such goods, where the payment of import duty is to be made from the amount available in electronic cash ledger; 
AND WHEREAS, as mentioned in said Order, the provisions of section 51A of the said Act, read with Customs (Electronic Cash Ledger) Regulations, 2022 have been made applicable to deposits from 1st April, 2023, other than those exempted; and while implementing these, the Directorate General of Systems, is alongside revamping integration mechanisms for data exchange between ICES and ICEGATE, ICEGATE and Banks & ICEGATE with other stakeholders; and with the view that, had the certain technical difficulties, as described in said Order, not arisen, the legitimate trade would not have been subjected to calculation of interest on the Common Portal, the said Order had been made; 
AND WHEREAS, while technical difficulties continue to be resolved by Directorate General of Systems to stabilise the new framework, errors are still occurring in the System sporadically thereby affecting the timely completion, by users, of sequential procedures whereby the accounting is made in the duty payment process; 
AND WHEREAS, in the interim, because of above, the interest also accumulates daily in the technical system in giving effect to the provisions of the sub-section (2) of section 47; 
AND WHEREAS, had the said difficulties not arisen, the legitimate trade would not have been subjected to calculation of interest on the Common Portal; 
AND WHEREAS, in terms of Section 143AA of the said Act, the Board may also for the purposes of facilitation of trade take measures to reduce the transaction cost of clearance; 
NOW, THEREFORE, in exercise of the powers conferred by the third proviso below sub- section (2) of section 47 of the Customs Act, 1962, the Central Board of Indirect Taxes and Customs, being satisfied that it is necessary in the public interest so to do, hereby makes the following Order, namely,- 
1. Short title.-- 
This Order may be called the Customs (Waiver of Interest) Second Order, 2023. 
2. The Central Board of Indirect Taxes and Customs, hereby waives the whole of interest payable under sub-section (2) of section 47 of the said Act, for the period from 11th April, 2023 upto and including the 13th April, 2023, in respect of such goods, where the payment of import duty is to be made from the amount available in electronic cash ledger. 
3. This Order is in continuation of the Customs (Waiver of Interest) Order, 2023 dated the 06.04.2023 and extends the same and would be applied in the same manner.</td> </tr> <tr> <td align="left" valign="top" ></td> </tr> <tr> <td align="left" valign="top" >Tags : Waiver, Interest, Second Order</td> </tr> <tr> <td align="left" valign="top">&nbsp;</td> </tr> <tr>  <td align="left" valign="top">Source : newsroom.manupatra.com</td> </tr> <tr> <td align="left" valign="top">&nbsp;</td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top">&nbsp;</td> </tr> </table> </div> </body> </html>