NEW DELHI : The Ministry of Finance has issued a circular notifying that importers who are registered under the Authorised Economic Operator Programme (AEO) and those importers who pay import duty more than ten thousand rupees per bill of entry should do so electronically.
As per the Customs notification no- 80/2017 dated Aug 17, 2017, the Central Government has made it mandatory for the classes of importers who should pay customs duty electronically, namely:
(i) Importers registered under Authorised Economic Operator Programme; and
This notification shall come into force with effect from September 1 of 2017.
As a part of the Ease of Doing Business focus of the Government of India, the Central Board of Excise and Customs (CBEC) has rolled out the AEO (AUTHORIZED ECONOMIC OPERATOR) programme. It is a trade facilitation move wherein benefits are extended to the entities who have demonstrated strong internal control systems and willingness to comply with the laws administered by the CBEC. Under the aegis of the flagship AEO scheme, the GoI has notified the Deferred Payment of Import Duty Rules, 2016.
The Deferred Payment of Import Duty is a mechanism for delinking duty payment and Customs clearance. It is based on the principle ‘Clear first-Pay later’. The aim is to have a seamless wharf to warehouse transit in order to facilitate just-in-time manufacturing.
This benefit is currently being extended to importers holding AEO T-2 or T-3 status. Every AEO T-2/AEO T-3 certified importer has to obtain ICEGATE Login which is essential to avail benefits envisaged in the Duty Deferment Scheme.