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Regularization of Bills of Entry and Waiver of Interest in Indian Customs

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.... of ECL facility since April 01, 2023-reg Trade Notice<br>Customs<br>Circulars<br>Dated:- 16-1-2024<br>Circular No. PUBLIC NOTICE NO. 63 / 2023 - Dated: 30-7-2023 - Advisory for operationalisation of the Customs (Waiver of Interest) Third Order, 2023 dated April 17, 2023 and the consequential regularisation of electronic Bills of Entry in case of manual Out of Charge (OOC) given in the wake of gli....

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....s, exporters, or anyone liable to pay duty fees to make non-interest-bearing deposits with the government for payment purposes. * Challenges in ECL Functionality: Post-implementation, grievances were reported regarding the non-reflection of duty payments in the ICES system, leading to the adoption of a manual Out of Charge (OOC) process until ECL&#39;s integration with ICES, ICEGATE, and banks....

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....s. Impact and Implications The introduction of ECL and the subsequent regulations significantly impact the operational dynamics of India&#39;s customs processes. These changes aim to streamline and digitize the customs duty payment process, enhancing efficiency and transparency. However, the transition phase has presented challenges, particularly regarding the integration of payments and system ....

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