The Central Board of Indirect Taxes and Customs (CBIC) has decided to enable Electronic Cash Ledger (ECL) in phases for importers and exporters effective April 1. However the importers faced some difficulties in making payment.
After receiving complaints from importers, the Goods and Services Tax Network (GSTN), the revenue secretary conducted a meeting asking the technology provider to fix the glitch.
Today’s circular will give relief to importers who were not able to make payment and were fearing a penalty or interest on late payment .
Abhishek Jain, partner (tax) at KPMG, said, “Importers have been facing challenges for the last couple of days owing to system glitches linked to ECL. The government has proactively taken cognisance of the issue and announced measures like waiver of demurrage and interest on such delays.”
Also the acceptance of bank confirmations for payment of duty would help clearance of urgent imports and address commercial concerns on delays.
