Time limit for depositing bill of entry

Within 90 days

Originally posted by : Vikash Kumar
	Three months from the date of remittance.

Are there any penalties for not late deposit / Non deposit?

In the link below, it is only stated that the authorised dealers(banks) shall followup with the Importers

https://www.rbi.org.in/scriptts/ECMUserParaDetail.aspx?Id=97&CatID=14

In case of late deposit, generally bank charges some penalty after reminder & in case of non filing you may face various inquires upon filing of non-submission report  by concerned bank with RBI.

Agreed with  above answers