Amendment to Notification No. 50/2017-Customs: Prescribing BCD for LPG

The Ministry of Finance, Department of Revenue, has issued a notification to amend Notification No. 50/2017-Customs. The amendment aims to introduce a new entry prescribing a Basic Customs Duty (BCD) for Liquified Petroleum Gas (LPG).

Amendment Details: The notification amends Notification No. 50/2017-Customs, which was originally published on June 30, 2017. The amendment adds a new entry, S. No. 155A, to the table in the notification. This new entry pertains to Liquified Petroleum Gas (LPG) and prescribes a Basic Customs Duty (BCD) rate of 5%.

Effective Date: The amendment shall come into force on July 1, 2023. Importers and stakeholders involved in LPG trade should take note of this effective date for compliance purposes.

MINISTRY OF FINANCE
(Department of Revenue)

Notification No. 41/2023-Customs | Dated: 30th June, 2023

G.S.R. 470(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 30^th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub­section (i), vide number G.S.R. 785(E), dated the 30^thJune, 2017, namely:-

In the said notification, –

in the Table, after S. No. 155 and the entries relating thereto, the following S. No. and entries shall be inserted, namely: –

2. This notification shall come into force on the 1^st day of July, 2023.

[F. No. 349/01/2023-TRU]

AMREETA TITUS. Under Secy.

Note : The principal notification No. 50/2017-Customs, dated the 30^th 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 30^thJune, 2017and was last amended vide notification No. 35/2023-Customs, dated the 29^th April, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.331 (E), dated the 1st May, 2023