India provides importers with ad hoc exemption on interest due to customs charges that were delayed due to a system failure. Interest payments have been suspended since the failure of the new system till today, but they are likely to be reinstated once the system fault is resolved. A data exchange issue on Icegate, the central customs network, caused import cargo backlogs at major ports, resulting in unpaid duty interest as well as carrier detention and demurrage charges. The Central Board of Indirect Taxes and Customs (CBIC) stated, however, that late fees incurred by cargo players failing to execute customs compliances will be waived. Because the technical issues continue, CBIC has temporarily restored manual “free” customs clearance options for specific goods.

Source of information – The Loadstar