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of <h1>Finance Bill 2020 Introduces Duty Credits via Section 51B for Export Manufacturers Under Customs Act</h1> Clause 110 of the Finance Bill, 2020 proposes the insertion of section 51B into the Customs Act. This section authorizes the Central Government to issue duty credits via notifications in the Official Gazette. These credits can be issued in lieu of remission of duties or other financial benefits for materials used in manufacturing or processing goods for export. The duty credits will be recorded in an electronic duty credit ledger within the customs automated system. Recipients can use or transfer these credits to pay duties under the Customs Act or the Customs Tariff Act, 1975, subject to prescribed conditions and restrictions.
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