Eligible Importers may avail benefit of deferred import duty payment without intimation

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.

Download Notification Click Here >>

• FDCM invites application for empanelment of practising CAs/ Chartered Accountant Firms
• PGRI invites application for CAs for empanelment for Circulation Verification work
• CBDT notifies revised Form for registration as valuer & authorised income tax practitioner
• Curtailing time to file reply to notice u/s 148A(b) from 30 days prejudiced assessee’s right – HC
• For registration u/s 12AB, applicability of proviso to section 2(15) can’t be adjudicated