Indian Government Introduces Phased Implementation of Electronic Cash Ledger in Customs from April 1, 2023
The Indian Government has announced the phased implementation of the Electronic Cash Ledger (ECL) in Customs starting April 1, 2023. The ECL, introduced under Section 51A of the Customs Act, 1962, will allow importers, exporters, and other stakeholders to make non-interest-bearing deposits with the government for the purpose of payments. The move is aimed at leveraging technology and streamlining the payment process related to the clearance of goods. The first phase will begin on April 1, while the second phase will start on May 1, 2023, when payments related to courier shipments will be required to be made through the ECL.
Recent Comments