|
In pursuance of the key trade facilitation initiative announced in the Union Budget 2026-27, the Central Board of Indirect Taxes & Customs (CBIC) organised a hybrid outreach programme in New Delhi on the Duty Deferment Scheme for Eligible Manufacturer Importers (EMI) in New Delhi, today, according to a statement by the Ministry of Finance.
Yogendra Garg, Member (Customs), CBIC; Manish Kumar, Chief Commissioner, Delhi Customs; Sanjay Gupta, Chief Commissioner, Delhi Customs (Preventive) Zone; Akhil Kumar Khatri, Chief Commissioner, DIC; representatives from trade bodies, industry, and key stakeholders also participated and deliberated upon the benefits and modalities of the EMI Scheme. The session included a detailed presentation followed by an interactive segment to address the queries from trade and industry. Addressing the participants, Yogendra Garg stated that the scheme adopts a trust-based approach aimed at facilitating faster clearances and reducing dwell time. He emphasised that the initiative seeks to minimise the trust deficit and promote a more efficient and collaborative compliance environment. Garg also encouraged stakeholders to avail the benefits of the scheme and provide feedback. Manish Kumar highlighted that the scheme enhances the commercial viability of manufacturer importers by enabling better import scheduling and more efficient working capital management. The EMI Scheme enables deferred payment of import duties, allowing eligible manufacturer importers to clear goods without upfront duty payment. Duties are to be paid on a monthly basis. The scheme is inclusive and extends to MSMEs. It aligns with the Government's Make in India initiative and aims to strengthen domestic manufacturing by improving liquidity and expediting cargo clearance. Some of the key benefits of the scheme include improved liquidity for manufacturers, faster clearance and reduced dwell time, better import planning and inventory management, strengthened payment discipline, enhanced global competitiveness and improved supply chain efficiency. The eligibility criteria for this scheme is that the manufacturer importer should have a valid Import-Export Code (IEC). The other criterion is to have a minimum of 25 Export-Import Bank (EXIM) documents filed in the preceding financial year (10 for MSMEs) The manufacturer should also be GST compliant with no pending returns and must have a demonstrated financial solvency, along with a clean compliance track record. Applications can be submitted online through the AEO portal (www.aeoindia.gov.in), operational since March 1 2026. The process is fully digital and does not require any physical interface. Approved applicants may avail the scheme across all Customs formations from April 1 2026. The scheme will remain valid for a period of two years, up to March 31 2028. (ANI)
|
