The CBIC vide Notification No. 13/2023- Customs dated February 23, 2023 has issued amendments in its earlier Notification No. 50 /2017 –Customs dated June 30, 2017 (“Notification No. 50”), which notified the effective rates of Customs Duty and Integrated Goods and Services Tax (“IGST”) for goods imported into India, in order to exempt the Basic Customs Duty (“BCD”) leviable on ‘vessels and other floating structures for breaking up’ falling under Tariff Item 8908 00 00, w.e.f. February 24, 2023 till March 31, 2025, by inserting the following entry in Notification No. 50: …
Source a2ztaxcorp
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