Central Board of Indirect Taxes and Customs notifies Electronic Duty Credit Ledger Regulations, 2021
The Notification bearing 75/2021-Customs (N.T.) dated 23rd September 2021 issued by the Central Board of indirect Taxes and Customs (CBIC) under section 51B, read with section 157 of the Customs Act, 1962 (52 of 1962) formulated the Electronic Duty Credit Ledger Regulations, 2021. The said regulations have been notified for providing credit under the Remission of Duties and Taxes on Exported Products (RoDTEP) and the Rebate of State and Central Taxes and Levies (RoSCT). Regulation 3 allows for processing of shipping bill or bill of export under section 50 of the Customs Act, 1962 having claim of duty of credit under the two schemes that is presented on or after 1st January 2021 in the customs automated system. The Regulation further explains the process of creation of e-slip in the ledger and states that the registration of said e-scrip shall be automatic.