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of <h1>Finance Bill 2018: Chapter VIIA Adds Electronic Cash Ledger to Customs Act for Advance Payments and Refunds</h1> Clause 78 of the Finance Bill, 2018, proposes the addition of Chapter VIIA to the Customs Act, introducing an electronic cash ledger for payments. This system allows individuals to deposit funds in advance for duties, interest, penalties, fees, or other sums under the Customs Act or related laws. The deposited amounts can be credited to the electronic cash ledger and used for future payments. Any remaining balance in the ledger can be refunded as prescribed. The Board may exempt certain persons or goods from these provisions through notification if deemed necessary.
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