As of March 1, 2024, a significant development unfolds as the implementation of the Electronic Cash Ledger (ECL) revolutionises the payment process for import duties on goods transported via Courier Mode.
The Electronic Cash Ledger (ECL) becomes the designated mode of payment for Import duties related to goods transported through International Courier terminals, marking a substantial shift in the payment landscape from March 1, 2024. Express Industry players can now conveniently make payments through multiple banks, utilising internet banking and NEFT/RTGS options.
This innovation allows Express Industry participants the flexibility to choose from various banks for payment transactions, expanding from the previous reliance on a single bank. Previously, the ECL was successfully introduced for Import Duties concerning cargo processed through EDI at Seaports, Airports, ICDs, and LCSs from April 1, 2023.
To ensure a smooth transition to the new system, the Directorate General of Systems, Central Board of Indirect Taxes and Customs (CBIC), conducted registration melas and webinars from October to December 2023, facilitating stakeholder familiarity.
Following a pilot phase initiation on January 15, 2024, the system’s successful operation expanded in phases to key locations such as Delhi, Bengaluru, and Mumbai, encompassing all International Courier Terminal locations since February 12, 2024. The glitch-free pilot phase confirms the readiness of the new ECL payment mode, promising increased efficiency and ease of doing business for the entire EXIM community.
