Customs (Electronic Cash Ledger) Regulations, 2022
The Finance Act, 2018 had presented the concept of electronic cash ledger under the Customs law by introducing ‘Chapter VIIA – Payment through electronic cash ledger’ in the Customs Act, 1962. This chapter contains provisions regarding payment of duty, interest, penalty, fee, or any other sum payable under the provisions of the Customs Act, 1962 or the Customs Tariff Act,1975 by way of electronic cash ledger (‘e-cash ledger’). However, the said chapter was not notified then.
In this regard, the Central Government has issued Notification S.O. 1511(E) [F. No. 442/02/2017-Cus IV (Pt)] dated March 30, 2022, specifying that the provisions of ‘Chapter VIIA – Payment through electronic cash ledger’ shall be effective June 1, 2022. As a corollary, the Central Board of Indirect Taxes and Customs (‘CBIC’) has notified the Customs (Electronic Cash Ledger) Regulations, 2022 (‘the Regulations’) which shall also be effective from June 1, 2022.
