CBIC cuts EMI docs as scheme struggles for takers
The Central Board of Indirect Taxes and Customs (CBIC) has simplified the requirements for businesses participating in the Eligible Manufacturer Importer (EMI) scheme, following its lackluster response since its launch on April 1. Less than 1,000 businesses have enrolled for the scheme, prompting CBIC to take steps to boost its acceptance.
The CBIC announced that it will conduct outreach programs and provide support to Micro, Small, and Medium Enterprises (MSMEs) to encourage their participation in the EMI scheme. Effective September 15, the CBIC has reduced the number of documents required for enrollment, from 10 to just 3, and streamlined the necessary data submission to make the process more efficient.
CBIC officials expressed disappointment with the scheme's slow uptake and emphasized their commitment to improving its adoption. The scheme, introduced in the 2026-27 Union Budget, allows trusted manufacturers to defer payment of Customs duty for imported goods, paying the applicable duty on a monthly basis. The facility, available until March 31, 2028, aims to help manufacturers manage cash flows and working capital more effectively.
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