Revenue Secretary Sanjay Malhotra announced that India will soon let the payment of customs taxes using UPI, debit cards, and credit cards, making the procedure quicker and easier for businesses in an effort to facilitate commerce and undergo a digital transformation.
According to him, the new program goes beyond duty payments to expedite the processing of refunds and incentives under programs like Rebate of State and Central Taxes and Levies (RoSCTL) and Remission of Duties and Taxes on Exported Products (RoDTEP).
In India, customs duties can currently be paid over-the-counter, through net banking, etc.
He was delivering a speech at the ‘India AEO Dialogue: Enhancing Global Trade Partnerships’, the closing session of the Global Authorized Economic Operator (AEO) Conference. Malhotra emphasized India’s dedication to creating a completely digital customs ecosystem, in which all ports have online and electronic amenities and are open around-the-clock. “We are working to automate all of our ports and electronic customs clearances. In order to make India a more effective and competitive trading hub, we want to offer smooth trade services at all of our key ports 24/7,” he continued.
The customs framework is being reinforced with cutting-edge risk management technologies to guarantee both security and ease. According to Malhotra, procedures have been rearranged to differentiate between traders who pose a low and high risk. He added, “While risky traders are being detected more effectively using better risk management systems, facilitation levels for non-risky traders have significantly improved.” The revenue secretary went on to say, “Technology and trust are the two pillars on which our tax strategy is built.”
