Government evaluates easing of import duty payment timelines

New Delhi: The government is evaluating relaxation of payment timelines of import duties so that many importers can hold on to their authorised economic operator, or AEO, status, a government official told ET.

A delay in payment of the duties leads to higher interest, penalties and possibility of cancellation of the AEO certification.

Now, AEOs typically get facilities of direct port delivery of imported containers, direct port entry of their export containers, high level of facilitation in customs clearance of their consignments thereby ensuring shorter cargo release time, exemption from bank guarantees, and priority for refund, rebate or duty drawback.