Amendment to Notification No.52/2003-Customs dated 31.03.2003 for extending exemption from IGST and compensation cess to EOUs on imports till 31.03.2021

Last updated: 27 March 2020

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This notification amends the previous customs notification 52/2003-Customs. It extends the exemption from Integrated Goods and Services Tax (IGST) and compensation cess for imports made by Export Oriented Units (EOUs). The exemption is now valid until 31st March 2021.

[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)

Notification No. 16 /2020-Customs

New Delhi, the 24th March, 2020

G.S.R. (E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, 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. 52/2003-Customs, dated the 31st March, 2003, published in the Gazette of India, Extraordinary, vide number G.S.R. 274 (E), dated the 31st March, 2003, namely:-

In the said notification, in the opening paragraph, in the proviso, for the figures, letters and words “1st day of April, 2020”, the figures, letters and words “1st day of April, 2021” shall be substituted.

[F.No. DGEP/SEZ/09/2017(Pt-2)]

(GAURAV SINGH)

Deputy Secretary to the Government of India

Note:-The principal notification No. 52/2003-Customs, dated the 31st March, 2003 was published in the Gazette of India, Extraordinary, vide number G.S.R. 274 (E), dated the 31st March, 2003 and was last amended by notification No. 09/2019-Customs, dated the 25th March, 2019, published vide number G.S.R 238(E), dated the 25th March, 2019.

FAQ :

The main purpose is to extend the exemption from IGST and compensation cess on imports for Export Oriented Units (EOUs) until 31st March 2021.

Notification No. 52/2003-Customs dated 31st March 2003 is being amended.

The end date for the exemption, previously 1st April 2020, has been changed to 1st April 2021.

Export Oriented Units (EOUs) benefit from this amendment as it extends their exemption on certain import duties.

The exemption applies to Integrated Goods and Services Tax (IGST) and compensation cess on imports.

Notification No : 16 /2020-Customs
Source : http://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2020/cs-tarr2020/cs16-2020.pdf

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