Amendment in Notification No. 50/2017

Last updated: 08 May 2024

Notice Date : 06 May 2024

Quick Summary

This notification introduces amendments to the existing Customs Notification No. 50/2017. Specifically, it updates Lists 34A and 34B within the Annexure to the Table. These revised lists, which include various banks, are effective from 1st April 2024 and will remain valid until 31st March 2025. The changes are made in the public interest under the powers granted by the Customs Act, 1962 and the Customs Tariff Act, 1975.

MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 6th May, 2024
No. 25/2024 -Customs

G.S.R. 270(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 makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 50/2017- Customs, dated the 30th June, 2017, published in the Gazette of India , Extraordinary , Part II, Section 3 , Sub-section (i), vide number G.S.R 785 (E), dated the 30th June 2017, namely:-

In the said notification, in the Annexure to the Table, for List 34A and List 34B, and the entries relating thereto, the following Lists and entries shall respectively be substituted, namely:

List 34A (See S. No. 359A of the Table) - with effect from 1st April, 2024 and valid upto 31st March, 2025:

Axis Bank Limited
Federal Bank Limited
HDFC Bank Limited
Industrial and Commercial Bank of China Limited
ICICI Bank Limited
IndusInd Bank Limited
Kotak Mahindra Bank Limited
Karur Vysya Bank Limited
RBL Bank Limited
State Bank of India
Yes Bank Limited

List 34B (See S. No. 359A of the Table) - with effect from 1st April, 2024 and valid upto 31st March, 2025:

Indian Overseas Bank
Punjab National Bank
Union Bank of India”.

[F. No. CBIC-190354/35/2023-TO(TRU-I)]
VIKRAM VIJAY WANERE, Under Secy.

FAQ :

This notification amends Notification No. 50/2017-Customs by substituting the existing entries for List 34A and List 34B in the Annexure to the Table.

The new Lists 34A and 34B are effective from 1st April 2024.

These new lists are valid up to 31st March 2025.

The updated List 34A includes Axis Bank Limited, Federal Bank Limited, HDFC Bank Limited, Industrial and Commercial Bank of China Limited, ICICI Bank Limited, IndusInd Bank Limited, Kotak Mahindra Bank Limited, Karur Vysya Bank Limited, RBL Bank Limited, State Bank of India, and Yes Bank Limited.

The updated List 34B includes Indian Overseas Bank, Punjab National Bank, and Union Bank of India.