Government extends deferred customs duty payment to authorised PSUs

The scheme of deferred payment of customs duties was first introduced in November 2016 for top importers, certified as Authorized Economic Operators (AEOs)

In an effort to expedite the clearance of imports by public sector undertakings, the government has extended the deferred customs duty payments facility to them. The PSUs will be allowed to pay customs duty within 14 days of imports.
 

“This measure is expected to result in speedier clearance of goods imported by the PSUs, thereby helping them in their activities. In general, the duty payment is deferred by 15 days,” the Central Board of Indirect Taxes and Customs (CBIC) said in a release on Tuesday.
 

The scheme of deferred payment of customs duties was first introduced in November 2016 for