Eligible Importers may avail benefit of Deferred Payment of Import Duty without intimation. Amendment to Deferred Payment of Import Duty Rules 2016
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
Notification No.79/2020-Customs (N.T.)
New Delhi, the 19th August, 2020
G.S.R. 514(E).—In exercise of the powers conferred by proviso to sub-section(1) of section 47 and section 156 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following rules further to amend the Deferred Payment of Import Duty Rules, 2016, namely : —
1. Short title and commencement :-(1) These rules may be called the Deferred Payment of Import Duty (Amendment) Rules, 2020.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Deferred Payment of Import Duty Rules, 2016, Rule 4 shall be omitted.
3.Rules 5 to 8 shall be re-numbered as Rules 4 to 7, respectively.
[F. No.450/81/2016-Cus IV]
ANANTH RATHAKRISHNAN, Dy. Secy.(Customs)
Note: The principal Notification No.134/2016-Customs(N.T.) dated the 2nd of November, 2016 was published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i), vide number G.S.R. 1037(E), dated the 2nd November 2016, and was last amended by Notification No.28/2017-Customs(N.T.) dated the 31st of March, 2017, vide number G.S.R. 321(E) dated the 31st March 2017.
Mere CBDT Instructions cannot absolve individuals of their obligation to explain the source and nature of their gold holdings, even…
Empanelment of General Observers for ICSI Examinations December 2026 ICSI has invited interested members to enroll as General Observers for…
ITAT answers some important and inter-related issues relating to deduction u/s 80IA In a recent judgment, ITAT has dealt with…
Carry forward of loss can not be denied for belated return, it is only the set off in subsequent year…
Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse…
Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business…