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Core Purpose

Notification No. 14/2024-Customs exempting gold imported into India by the Reserve Bank of India from customs duty and the Agriculture Infrastructure and Development Cess.

Detailed Summary

The Department of Revenue, Ministry of Finance, in exercise of powers under sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), issued Notification No. 14/2024-Customs, G.S.R. 180(E), dated 12th March 2024, exempting gold falling under Customs Tariff Heading 7108 of the First Schedule to the Customs Tariff Act, 1975, when imported into India by the Reserve Bank of India, from the whole of the customs duty leviable under the First Schedule to the Customs Tariff Act, 1975 and from the whole of the Agriculture Infrastructure and Development Cess leviable under section 124 of the Finance Act, 2021 (13 of 2021), on grounds of public interest; the notification is issued under F. No. CBIC-190354/79/2023-TO(TRU-I) and signed by Vikram Vijay Wanere, Under Secretary.

Full Text

1859 GI/202 4 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( i) PUBLISHED BY AUTHORITY No. 168] NEW DELHI , TUESDAY , MARCH 12, 2024 /PHALGUNA 22, 1945 CG-DL-E-12032024-252893 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 12th March , 2024 No. 14/2024 -Customs G.S.R. 180(E).—In exercise of the powers conferred by sub -section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub -section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts gold falling under Customs Tariff Heading 7108 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) , when imported into India by Reserve Bank of India , from the whole of the duty of customs leviable thereon as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and from the whole of Agriculture Infrastructure and Development Cess, leaviable under Sectio n 124 of the Finance Act, 2021 (13 of 2021). [F. No. CBIC -190354/79/2023 -TO(TRU -I)] VIKRAM VIJAY WANERE , Under Sec y. Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Pub lished by the Controller of Publications, Delhi -110054.

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