The Central Board of Indirect Taxes and Customs (CBIC) has introduced a deferred Customs Duty payment facility for Eligible Manufacturer Importers. CBIC today also notified the eligibility and guidelines for the scheme.
Under this initiative, eligible manufacturer importers will be able to clear imported goods without paying Customs duty at the time of clearance. Instead, the applicable duty can be paid on a monthly basis, helping manufacturers better manage cash flows and working capital. The facility will be available between the 1st and the 31st of next month.
The Ministry of Finance said that applications under the scheme can be submitted online from 1st March at www.aeoindia.gov.in . It added that the scheme is expected to improve ease of doing business, strengthen compliance culture, and boost domestic manufacturing.
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