CBIC Engages Industry Stakeholders on Duty Deferment Benefits

New Delhi, March 28: The Central Board of Indirect Taxes and Customs conducted an outreach session in the national capital to familiarise manufacturer importers with the advantages of the Duty Deferment Scheme, aiming to streamline import processes and improve liquidity for businesses.

Officials explained that the initiative is designed to allow eligible importers to delay payment of customs duties, thereby easing financial pressure and enhancing working capital management. The programme brought together representatives from various manufacturing sectors who were briefed on operational aspects and eligibility criteria.

During the session, experts from the board addressed queries related to compliance procedures, digital filing systems, and the overall framework of the scheme. Participants were also guided on how to integrate the facility into their existing supply chain practices without disruptions.

The board emphasised that such engagements are part of its broader effort to promote trade facilitation and encourage domestic production by reducing procedural hurdles. Industry members welcomed the initiative, noting that improved awareness can help more businesses take advantage of government backed schemes.

The outreach concluded with assurances from officials that further interactions will be organised to ensure smoother implementation and wider participation among importers across the country.