P&H HC: Eyewitness Account Not Credible if Eyewitness Directly Identifies Accused in Court  ||  Delhi HC: Conditions u/s 45 PMLA Have to Give Way to Article 21 When Accused Incarcerated for Long  ||  Delhi High Court: Delhi Police to Add Grounds of Arrest in Arrest Memo  ||  Kerala High Court: Giving Seniority on the Basis of Rules is a Policy Decision  ||  Del. HC: Where Arbitrator has Taken Plausible View, Court Cannot Interfere u/s 34 of A&C Act  ||  Ker. HC: No Question of Estoppel Against Party Where Error is Committed by Court Itself  ||  Supreme Court: Revenue Entries are Admissible as Evidence of Possession  ||  SC: Mere Breakup of Relationship Between Consenting Couple Can’t Result in Criminal Proceedings  ||  SC: Bar u/s 195 CrPC Not Attracted Where Proceedings Initiated Pursuant to Judicial Order  ||  NTF Gives Comprehensive Suggestions on Enhancing Better Working Conditions of Medical Professions    

Customs (Waiver of Interest) Second Order, 2023- (Ministry of Finance ) (11 Apr 2023)

MANU/CUSN/0029/2023

Customs

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.

Tags : WAIVER   INTEREST   SECOND ORDER  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved