Seeks to amend notification No. 50/2017-Customs, dated 30.06.2017 so as to exempt BCD on paper based taggants, including M-Feature.

Last updated: 07 September 2020

Save Share

Quick Summary

This notification amends the existing Customs Notification No. 50/2017. Specifically, it updates the entry for S. No. 258 to exempt 'Paper Based Taggant, including M-feature' from Basic Customs Duty (BCD). This change aims to provide relief and streamline processes for these specific items.

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

Notification No. 33/2020–Customs

New Delhi, the 7 September, 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) 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 Table, against S. No. 258, in column (3), for the word “M-feature”, the words “Paper Based Taggant, including M-feature,” shall be substituted.

[F. No. 354/100 /2020- TRU]

(J S Kandhari)

Deputy Secretary to the Government of India

Note: The principal notification No. 50/2017- Customs, dated the 30th June, 2017 was 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 and last amended vide notification No.32/2020- Customs, dated the 7 th August, 2020, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i), vide number G.S.R. 494 (E), dated the 7th August, 2020.

FAQ :

This notification amends Notification No. 50/2017-Customs, dated 30.06.2017.

Paper based taggants, including M-feature, are now exempt from BCD.

The previous description for S. No. 258 was 'M-feature'.

The new description for S. No. 258 is 'Paper Based Taggant, including M-feature'.

This notification is dated 7 September, 2020.

Notification No : Notification No. 33/2020–Customs
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2020/cs-tarr2020/cs33-2020.pdf;jsessionid=B656BD31B792F3190FE8E50FD5DC705C

173 Views Comment Share Custom Report

Notification posted by

CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Comments