Deferred customs payment for eligible manufacturers enables an interest free short term credit window for import duties.
The scheme permits Approved Eligible Manufacturer Importers to clear imports and discharge assessed import duty by the first day of the following month, providing up to a thirty day interest free credit period. Eligibility requires importer cum manufacturer status, valid IEC, specified EXIM filing thresholds, financial solvency, at least one GST registration declaring manufacturing activity, minimum turnover, two years' operations, up to date GSTR 3B filings, no tax collected but not deposited, and clean criminal/prosecution records for key persons. Applications are made via the AEO portal and enabled in customs automation upon approval. (AI Summary)