Moneycontrol PRO
HomeNewsBusinessEconomyCustoms duties to soon be payable via UPI, debit and credit cards: Revenue Secretary

Customs duties to soon be payable via UPI, debit and credit cards: Revenue Secretary

Currently, customs duties in India can be paid through net banking, over-the-counter payments, etc.

November 29, 2024 / 16:42 IST
India is committed to building a fully digital customs ecosystem.

In a move toward digital transformation and trade facilitation, India will soon allow the payment of customs duties through UPI, debit cards, and credit cards, making the process faster and more convenient for traders, Revenue Secretary Sanjay Malhotra said on November 29.

The new initiative extends beyond duty payments to include faster processing of refunds and incentives under schemes like Remission of Duties and Taxes on Exported Products (RoDTEP) and Rebate of State and Central Taxes and Levies (RoSCTL), he said.

Currently, customs duties in India can be paid through net banking, over-the-counter payments, etc.

“Now we are going to make available payments of customs duties through UPI, credit cards, and debit cards. Our aim is to digitise and streamline all refunds and related processes, such as customs drawbacks, duties paid in excess, refunds, RoDTEP, and RoSCTL, making them accessible online,” Malhotra said.

He was speaking at the valedictory session of the Global Authorised Economic Operator (AEO) Conference, titled 'India AEO Dialogue: Enhancing Global Trade Partnerships'.

Malhotra highlighted India’s commitment to building a fully digital customs ecosystem, where all ports operate 24x7 with electronic and online facilities. “Our endeavour is to make all our ports automated and custom clearances electronic. We aim to provide seamless trade services at all our major ports round the clock, making India a more efficient and competitive trading hub,” he added.

To ensure both facilitation and security, the customs framework is being strengthened with advanced risk management technologies. Malhotra said that processes have been reorganised to distinguish between low-risk and high-risk traders. “Facilitation levels have significantly improved for non-risky traders, while risky traders are being detected more effectively using better risk management systems,” he further said.

“Our tax strategy is based on two pillars: technology and trust,” the revenue secretary added.

Meghna Mittal
Meghna Mittal Deputy News Editor at Moneycontrol. Meghna has experience across television, print, online and wire media. She has been covering the Indian economy, monetary and fiscal policies, Finance and Trade ministries. She tweets at @Meghnamittal23 Contact: meghna.mittal@nw18.com
first published: Nov 29, 2024 04:42 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347