NEW DELHI: With a view to reduce transaction cost and time during customs clearance, the government has made it mandatory for importers to use the e-payment mode for duty payments of above Rs 1 lakh.
In a circular, the Central Board of Excise and Customs (CBEC) also said that in case of accredited importers the e-payment method would be applicable irrespective of the amount of duty.
"...in order to reduce the transaction cost of the importers and expedite the time taken for customs clearance the Board has decided to make e-payment of duty mandatory for the importers paying an amount of Rs one lakh or more per transaction," it said.
The board (CBEC) said the date from which e-payment will be made mandatory will be notified separately.
"Additionally, for accredited clients under the Customs Accredited Client Programme irrespective of any amount of duty, the customs duty will have to be paid through e-payment mode only," the notification said.
The board has called on the Customs department to take steps for sensitising its officers, importers, trade and industry regarding the e-payment system.
E-payment facility at Customs locations was introduced in 2007 and is available through certain authorised bank at major Customs locations.
"Though voluntary, the facility has been made use of by numerous importers. Besides expediting the process of payment of duty and clearance of imported goods, the facility of e-payment has resulted in reduction of transaction costs," the CBEC said.
The latest move comes at a time when the government is looking to increase income from customs to Rs 1,51,700 crore this fiscal compared to Rs 1,31,800 crore.
Source : timesofindia.indiatimes.com