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Core Purpose

Two Ministry of Finance (Department of Revenue) Customs notifications dated 15th January 2024: Notification No. 01/2024-Customs levying a 50% export duty on molasses by amending the Second Schedule to the Customs Tariff Act, 1975, and Notification No. 02/2024-Customs amending Notifications No. 48/2021-Customs and No. 49/2021-Customs to extend and modify related timelines.

Detailed Summary

Notification No. 01/2024-Customs, G.S.R. 39(E), issued 15th January 2024 by the Department of Revenue, Ministry of Finance, under sub-section (1) of section 8 of the Customs Tariff Act, 1975 (51 of 1975), inserts new Serial No. 9B (Heading 1703, 'Molasses resulting from the extraction or refining of sugar') into the Second Schedule to the Customs Tariff Act at an export duty rate of 50%, effective from 18th January 2024, under F. No. CBIC-190354/9/2024-TO(TRU-I), signed by Amreeta Titus, Deputy Secretary; the same day, Notification No. 02/2024-Customs, G.S.R. 40(E), issued under sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with section 124 of the Finance Act, 2021 (13 of 2021), amends two prior notifications: Notification No. 48/2021-Customs dated 13th October 2021 (G.S.R. 733(E), last amended by Notification No. 39/2023-Customs dated 14th June 2023) is amended in paragraph 2 by substituting the figures '2024' with '2025'; and Notification No. 49/2021-Customs dated 13th October 2021 (G.S.R. 734(E), last amended by Notification No. 65/2023-Customs dated 21st December 2023) is amended by omitting a proviso that had excluded goods at serial numbers 1, 2 and 3 of its Table from the notification's benefit on or after 1st April 2024.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-15012024-251356 EXTRAORDINARY PART II-Section 3-Sub-section (i) PUBLISHED BY AUTHORITY No. 34] NEW DELHI, MONDAY, JANUARY 15, 2024/PAUSHA 25, 1945 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 15th January, 2024 No. 01/2024-Customs G.S.R. 39(E).—Whereas, the Central Government is satisfied that export duty should be levied on certain articles and that circumstances exist which render it necessary to take immediate action. Now, therefore, in exercise of the powers conferred by sub-section (1) of section 8 of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), the Central Government, hereby directs that the Second Schedule to the Customs Tariff Act shall be amended in the following manner, namely: - In the Second Schedule to the Customs Tariff Act, after S. No. 9A and the entries relating thereto, the following Sl. No. and entries relating thereto shall be inserted, namely: - +-----+-------------------------------------------------------+---------------------------------------------+----------+ | (1) | (2) | (3) | (4) | +=====+=======================================================+=============================================+==========+ | "9B. | 1703 | Molasses resulting from the extraction or | 50%"; | | | | refining of sugar | | +-----+-------------------------------------------------------+---------------------------------------------+----------+ 2. This notification shall come into force on the 18th of January, 2024. [F. No. CBIC-190354/9/2024-TO(TRU-I)] AMREETA TITUS, Dy. Secy. NOTIFICATION New Delhi, the 15th January, 2024 No. 02/2024-Customs G.S.R. 40(E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with section 124 of the Finance Act, 2021 (13 of 2021), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby amends the following notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table below, to the extent specified in the corresponding entries in column (3) of the said Table, namely:- TABLE +-----+-----------------------------------------------------------------------------------------------------------------------+--------------------------------------------------------------------------------------------------------------------+ | S. No. | Notification No. and Date | Amendments | +=====+=======================================================================================================================+====================================================================================================================+ | (1) | (2) | (3) | +-----+-----------------------------------------------------------------------------------------------------------------------+--------------------------------------------------------------------------------------------------------------------+ | 1. | 48/2021-Customs, dated the 13th October, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, | In the said notification, in paragraph 2, for the figures "2024", the figures "2025" shall be substituted; | | | Sub-section (i), vide number G.S.R. 733(E)., dated the 13th October, 2021 | | +-----+-----------------------------------------------------------------------------------------------------------------------+--------------------------------------------------------------------------------------------------------------------+ | 2. | 49/2021-Customs, dated the 13th October, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, | In the said notification, in paragraph 2, the words, figures, and letters “Provided that nothing contained in this | | | Sub-section (i), vide number G.S.R. 734(E)., dated the 13th October, 2021 | notification shall apply to the goods specified against serial numbers 1, 2 and 3 of the Table above on or after | | | | the 1st day of April, 2024." shall be omitted. | +-----+-----------------------------------------------------------------------------------------------------------------------+--------------------------------------------------------------------------------------------------------------------+ [F. No. CBIC-190354/9/2024-TO(TRU-I)] AMREETA TITUS, Dy. Secy. Note: 1. The principal notification No. 48/2021-Customs, dated the 13th October, 2021, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 733(E), dated the 13th October, 2021, and was last amended vide notification No. 39/2023-Customs, dated the 14th June, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 439(E), dated the 14th June, 2023. 2. The principal notification No. 49/2021-Customs, dated the 13th October, 2021, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 734(E), dated the 13th October, 2021, and was last amended vide notification No. 65/2023-Customs, dated the 21st December, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i), vide number G.S.R. 904(E), dated the 21st December, 2023. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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