The import could not be completed due to a low timeout limit on the server error

I am getting the following error message. The import could not be completed due to a low timeout limit on the server. You need to contact your hosting provider and ask them to increase it to 300 seconds.
I am managing my Linux server webserver and i have updated all values. Still not working. The problem see to be license activation. please do the needful urgently. I am stuck on it. I can not activate any prebuilt website. If you need i can give you my webserver login password too. What is causing the issue.