The Gazette of India released on 29 March 2018 hinted about the soon introduction of Customs Electronic cash ledger similar to GST ledgers. The said amendment was mentioned in The Finance Act, 2018 under ‘Chapter VIIA – Payment through electronic cash ledger’ in the Customs Act, 1962. It was not notified then.
In this regard, The Customs Notification no. 20/2022 got released on 30 March 2022 officially which notified and explained the provisions of new Customs (Electronic Cash Ledger) Regulations, 2022. It shall be effective from 1 June 2022.
The notification explained the usage of ledger under following 5 heads using 5 different forms:
1. Manner of maintaining an e-cash ledger- Form ECL-1:
General guidelines mentions that payments made towards duty, interest, penalty, fee or any other payment under the Customs law and regulations shall be done with the ledger on the common portal.
Ledger will not accrue any interest on deposits made.
The common portal will also generate a unique identification number for any debit or credit transactions which will further be used for relevant customs declaration or official documents mentioning imports and exports.
2. Manner of making deposits in e-cash ledger- Form ECL-2:
Deposits shall be made by generating a deposit challan which shall be valid for 15 days on portal.
The manner of depositing will be allowed through- Internet banking through an authorised bank; NEFT or RTGS and Over the counter payment through an authorised bank.
Over the counter payment, cannot exceed Rs. 10,000 per day. However, such limit shall not apply to deposits made by the Government Department or where the Jurisdictional Commissioner of Customs authorises a higher amount to be deposited.
While depositing through NEFT/ RTGS or over the counter payment, one has to submit Form ECL-2 and deposit challan to the bank. When the amount is credited in the ledger, the bank will generate the unique identification number and indicate it on deposit challan as well.
3. Manner of making payment from the e-cash ledger- Form ECL-3:
There are 2 ways to make payment- By the customs automated system and by the person.
In the customs automated system, a person can give consent for auto-debit in his customs declaration. Whereby if the amount is available in e-cash ledger, payment challan will be automatically debited
The payment can be done by the person himself on the basis of his own ascertainment of duty or sum payable.
4. Manner of maintaining electronic duty payment ledger- Form ECL-4:
The debited amount will be shown in e-cash ledger, whereas the credited amount will get furnished in e-duty payment ledger
5. Refund- Form ECL-5:
The balance in the electronic cash ledger, after payment of duty, interest, penalty, fee or any other amount payable, may be applied for refund by the person on the common portal using said form.
Upon receiving the application refund is expected to be processed or decided within 30 days from the date of application. The refund will be received in the bank account of the person registered with customs automated system Please note that the portal will also facilitate registered persons with ways to send their doubts, complaints or discrepancy.
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