Under the Finance Act, 2021, the conditional exemption from customs duty extended through notifications was to have a two-year tenure unless extended. Subsequently, a periodic review was undertaken by the government in consultation with the trade and other ministries to rescind certain notifications or to notify the end date for the withdrawal of the exemption.
Source PwC
Latest Posts in "India"
- India’s GST 2.0 Sparks Concerns in Nepal Over Smuggling and Trade Deficit
- India Recognizes Intermediary Services as Exports Under GST, Aligning with Global Practices
- FISME Urges Automatic GST Refunds, Proposes 8% Concessional Rates to Support MSMEs
- India Launches GST Appellate Tribunal for Uniform Dispute Resolution Across States
- GSTN Advisory 624: New Changes in Invoice Management System Effective October 2025
