Ministry of Finance, Department of Revenue, New Delhi, has issued Notification No. 43/2023-Customs on 1st July 2023, announcing an increase in import duty on Liquified Propane and Liquified Butane.
The notification issued by the Ministry of Finance states that the Central Government has decided to increase the import duty leviable on Liquified Propane classified under CTH 2711 12 00 and Liquified Butane classified under CTH 2711 13 00 of the First Schedule to the Customs Tariff Act, 1975. The amendment involves substituting the current entry in column (4) against tariff items 2711 12 00 and 2711 13 00 with a new rate of “15%.”
The effective date of the amendment is immediate, which means the increased import duty rate of 15% on Liquified Propane and Butane will be applicable from the date of the notification i.e. 1st July, 2023..
MINISTRY OF FINANCE
(Department of Revenue)
New Delhi
Notification No. 43/2023-Customs | Dated 1st July, 2023
G.S.R. 473(E).– WHEREAS, the Central Government on being satisfied that the import duty leviable on Liquified Propane classifiable under CTH 2711 12 00 and Liquified Butane classifiable under CTH 2711 13 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), should be increased and that circumstances exist which render it necessary to take immediate action.
NOW, therefore, in exercise of the powers conferred by sub-section (1) of section 8A of the said Customs Tariff Act, the Central Government, hereby directs that the First Schedule to the said Customs Tariff Act, shall be amended in the following manner, namely:-
In the First Schedule to the said Customs Tariff Act, in Chapter 27, for the entry in column (4) occurring against tariff items 2711 12 00 and 2711 13 00, the entry “15%” shall be substituted
2. This shall come into force with immediate effect.
[F. No. 349/01/2023-TRU]
(Amreeta Titus)
Deputy Secretary to the Government of India
