Implementation of Electronic Cash Ledger for payment of Import duties

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	Blog Categories All Notification and amendments (4) Invoicing (2) Eway Bill (1) Income Tax (1) Case Law (2) GST Returns (4) Implementation of Electronic Cash Ledger for payment of Import duties Category: Notification and amendments, Posted on: 02/03/2024 , Posted By: Adv Akshay Havaldar Visitor Count:79 The Electronic Cash Ledger (ECL) shall be the mode of payment of Import duties for goods imported through International Courier terminals from 01 March 2024. With the introduction of ECL, Express Industry can make payment through multiple banks as per convenience by internet banking and NEFT/RTGS from the existing one bank. Earlier, the Electronic Cash Ledger was implemented for payment of Import Duties for cargo processed through EDI at Seaports, Airports, ICDs and LCSs from 01 April 2023. For implementing the new payment system by use of ECL, hand holding of the trade was done by means of registration mela and webinars conducted by DG Systems, CBIC, from October to December, 2023 to familiarise different stakeholders before the launch of ECL for Express Cargo Industry. A pilot phase was started on 15.01.2024 and the same was expanded in phases to Delhi, Bengaluru,Mumbai and all other International Courier Terminal locations. Since 12.02.2024, the pilot has been running successfully in all the locations without any glitches in the system. The new ECL mode of payment is now available for all EXIM and it would facilitate ease of doing business to the trade. Posted On: 29 FEB 2024 8:23PM by PIB Delhi Disclaimer: The content of the blog does not create any responsibility of the firm / its authorized persons whose website is being accessed. The blog is not for legal use. Kindly verify the correctness of data/contents from your own sources. This is only for information purpose. To Activate comments you need to provide details for google authentication and facebook authentication

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