Ministry of Finance issues Customs Duty Interest Waiver for Goods Paid Through Electronic Cash Ledger
Government has issued the Customs (Waiver of Interest) Order, 2023, waiving the interest payable under section 47 of the Customs Act, 1962, from April 1st to 10th, 2023. The waiver applies to goods where payment of import duty is to be made from an electronic cash ledger. The waiver aims to reduce transaction costs and provide relief to traders who faced technical difficulties during the duty payment process.
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