Custom Notification 29/2024

Last updated: 27 July 2024

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This notification, dated 23rd July 2024, amends the previous Customs Notification No. 154/94. Effective from 24th July 2024, the duty exemption limit has been increased from Rs. 1,00,000 to Rs. 3,00,000. This change is implemented under the powers granted by the Customs Act, 1962, and is considered necessary in the public interest.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification No. 29/2024-CUSTOMS

New Delhi, the 23rd of July, 2024

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, 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.154/94-Customs, dated the 13th July, 1994, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 583 (E),dated the 13th July, 1994, namely :-

1. In the said notification, in the TABLE, against S.No.3, in column 3, in condition (v), in clause (A), in sub clause (b), for the letters, figures, brackets and words "Rs.1,00,000 (One lakh)", the letters, figures, brackets and words "Rs.3,00,000 (Three lakhs)" shall be substituted.

2. This notification shall come into force on the 24th day of July, 2024.

[F. No.334/03/2024-TRU]

(Nitish Karnatak)
Under Secretary to the Government of India

FAQ :

The main change is the increase in the duty exemption limit from Rs. 1,00,000 (One lakh) to Rs. 3,00,000 (Three lakhs).

This notification comes into force on the 24th day of July, 2024.

This notification amends the Government of India's notification No. 154/94-Customs, dated 13th July, 1994.

The amendment is made in exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962.

The notification is issued by the Central Government, Ministry of Finance, Department of Revenue.

Notification No : 29/2024
Source : https://www.indiabudget.gov.in/doc/cen/cus292024.pdf

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