Regulation 7 - Transfer of duty credit in e-scrip - Electronic Duty Credit Ledger Regulations, 2021

7. Transfer of duty credit in e-scrip. - (1) Transfer of duty credit in e-scrip shall be allowed within the customs automated system from the ledger of a person to the ledger of another person who is a holder of an Importer-exporter Code Number issued in terms of the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992) . (2) The duty credit available in an e-scrip shall be transferred at a time for the entire amount in the said escrip to another person and transfer of the duty credit in part shall not be permitted. (3) The period of validity of the e-scrip, of 1 [ two years ] from its creation, shall not change on account of transfer of the e-scrip. (4) The ledger of the transferee, including e-scrip and the transactions made therein, shall be visible in the customs automated system to the transferee and the Customs. ************* NOTES:- 1. Substituted vide NOTIFICATION NO. 79/2022-Customs (N.T.) dated 15-09-2022 before it was read as, one year