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Core Purpose

Notification amending the Customs exemption Notification No. 11/2018-Customs dated 2nd February 2018 under sub-section (1) of Section 25 of the Customs Act, 1962 read with Section 110 of the Finance Act, 2018, inserting new tariff entries covering precious-metal-bearing spent catalyst/ash and coins of precious metals.

Detailed Summary

The Ministry of Finance, Department of Revenue, issued Notification No. 04/2024-Customs (G.S.R. 54(E)) dated 22nd January 2024, in exercise of powers conferred by sub-section (1) of Section 25 of the Customs Act, 1962 (52 of 1962) read with Section 110 of the Finance Act, 2018 (13 of 2018), making further amendments to Notification No. 11/2018-Customs dated 2nd February 2018 (G.S.R. 114(E), dated 2nd February 2018), which was last amended by Notification No. 4/2023-Customs dated 1st February 2023 (G.S.R. 69(E), dated 1st February 2023). The amendments in the Table of the said notification are: (i) after Sl. No. 54, insertion of new Sl. No. 54A covering "Spent catalyst and ash containing precious metals" falling under heading 7112, covered under S. No. 364A of the Table appended to Notification No. 50/2017-Customs dated 30th June 2017 (G.S.R. 785(E), dated 30th June 2017); (ii) against Sl. No. 55, substitution of the reference "S. Nos. 356, 357 and 364C" with "S. Nos. 356 and 357"; and (iii) after Sl. No. 56, insertion of new Sl. No. 56A covering "Coins of precious metals" falling under heading 7118. Signed by Rakesh Dahiya, Director [F. No. CBIC-190341/4/2024-TO(TRU-I)].

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-22012024-251556 EXTRAORDINARY PART II-Section 3-Sub-section (i) PUBLISHED BY AUTHORITY No. 48] NEW DELHI, MONDAY, JANUARY 22, 2024/MAGHA 2, 1945 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 22nd January, 2024 No. 04/2024 - Customs G.S.R. 54(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 110 of the Finance Act, 2018 (13 of 2018), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 11/2018- Customs, dated the 2nd February, 2018 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 114 (E), dated the 2nd February, 2018, namely :- In the said notification, in the Table - (i) after Sl. No 54 and the entries relating thereto, the following Sl. No. and entries shall be inserted, namely: +-----+------------------------------------------------------------------------------------------------------------------------------------+ | (1) | (2) | +=====+====================================================================================================================================+ | "54A.| Spent catalyst and ash containing precious metals, falling under heading 7112, covered under S. No. | | | 364 A of the Table appended to the notification 50/2017-Customs, dated the 30th June, 2017, | | | published in the Gazette of India, vide number G.S.R. 785(E), dated the 30th June, 2017.”; | +-----+------------------------------------------------------------------------------------------------------------------------------------+ (ii) against Sl. No. 55, in column (2), for the letters, figures and words "S. Nos. 356, 357 and 364C", the letters, figures and words "S. Nos. 356 and 357" shall be substituted; (iii) after Sl. No 56 and the entries relating thereto, the following Sl. No. and entries shall be inserted, namely: +-----+----------------------------------------------------+ | (1) | (2) | +=====+====================================================+ | "56A.| Coins of precious metals, falling under heading 7118.". | +-----+----------------------------------------------------+ [F. No. CBIC-190341/4/2024-TO(TRU-I)] RAKESH DAHIYA, Director Note: - The principal notification No. 11/2018-Customs, dated the 2nd February, 2018 was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R. 114(E), dated the 2nd February, 2018 and last amended vide notification No. 4/2023-Customs, dated the 1st February, 2023 published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R. 69 (E), dated the 1st February, 2023.

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