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Core Purpose

Public Notice under paragraphs 1.03 and 2.04 of the Foreign Trade Policy, 2023, amending Para 2.92 and Appendix-2A of the Handbook of Procedure 2023 to revise the ITC(HS) codes for cotton under the India-Australia Economic Cooperation and Trade Agreement Tariff Rate Quota.

Detailed Summary

Public Notice No. 21/2023, dated 10th July 2023, issued by the Ministry of Commerce and Industry, Department of Commerce, Directorate General of Foreign Trade (F. No. 01/93/180/05/AM-22/PC-2(B)/Part-I/E-35577), exercises powers under paragraph 1.03 and 2.04 of the Foreign Trade Policy, 2023, and, in continuation of Public Notice No. 46/2015-20 dated 28.12.2022, amends Para 2.92 and Appendix-2A of the Handbook of Procedure 2023 for items under the Tariff Rate Quota (TRQ) of the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA), in sync with the Ministry of Finance (Department of Revenue) Notification No. 38/2023-Customs dated 23rd May 2023. The earlier ITC(HS) code 52010020 for cotton is deleted, and the TRQ for cotton is instead reckoned under new ITC(HS) codes 52010024 and 52010025, covering cotton of minimum 28 mm staple length, at an in-quota rate of 0% duty for a TRQ quantity of 51,000 metric tonnes for calendar year 2023 onwards. The notice states it is issued to keep the ITC(HS) codes for cotton under the Ind-Aus ECTA TRQ in sync with the Ministry of Finance Customs notification of 23rd May 2023. Signed by Santosh Kumar Sarangi, Director General of Foreign Trade & Ex-officio Additional Secretary.

Full Text

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