Earlier, the provisions of section 51A of the Customs Act, 1962 read with Customs (Electronic Cash Ledger) Regulations, 2022 were made applicable to deposits from 1stApril, 2023, otherthan those exempted by virtue of notification no.18/2023-Customs (N.T.) dated 30^th March, 2023 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide number S.O. 1528(E) dated the 30^th March, 2023;

The trade, in a large number of cases, faced the difficulty of being unable to complete the process whereby accounting is made in the duty payment process initiated by them because of unanticipated technical difficulties on the Common Portal and with the authorized banks, from 01.04.2023 onward, as a result whereof, the interest was arising.

CBIC, being satisfied that it was necessary in public interest so to do, made the order to waive the interest.

Highlights of the order is given below:

1. The Central Board of Indirect Taxes and Customs waived the whole of interest payable under sub-section (2)of section 47 of the said Act, for the period from 1^st April, 2023 upto and including the 10^th April, 2023, in respect of such goods, where the payment of import duty is to be made from the amount available in electronic cash ledger:
2. The waiver would be applied on the Common Portal. In respect of Bills of Entry for which import duty payment has already occurred and integrated in ICES during the said period, a claim for refund of interest shall be subject to the provisions of Section 27 of the said Act.