CBIC amend Australia FTA notification to make changes in tariff preference given to Coking Coal and Raw Cotton arising out of Finance Act, 2023 vide Notification No. 38/2023-Customs, dated May 23, 2023.

Ministry of Finance in India has issued Notification No. 38/2023-Customs, dated May 23, 2023, to amend the existing notification related to the Australia Free Trade Agreement (FTA). The amendment aims to make changes in the tariff preference given to Coking Coal and Raw Cotton as a result of the Finance Act, 2023. The notification modifies Table II and Table IV of the previous notification, specifying revised entries and rates for certain goods. The amendments come into effect immediately and are deemed necessary in the public interest.

MINISTRY OF FINANCE
(Department of Revenue)

Notification No. 38/2023-Customs | Dated :  23rd May, 2023

G.S.R. 383(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. 62/2022-Customs, dated the 26th December, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 904(E), dated the 26th December, 2022, namely :-

In the said notification,

I. in Table II, –

(i) S.No. 6 and the entries relating thereto shall be omitted;

(ii) against S.No. 7, for the entries in column (2) and column (3), the entries “27011210” and “All Goods” shall be substituted respectively;

(iii) after S. No. 7 and the entries relating thereto, the following S.No. and entries shall be inserted, namely: –

(1) (2) (3) (4) (5)
“7A. 27011290 All goods 0 1.5
7B. 27011910 All goods 0 0”.

II. in Table IV, –

(i) against S. No. 1, for the entries in column (2) and column (3), the entries “52010024, 52010025” and “Cotton of minimum 28 mm staple length” shall be substituted respectively.

[F. No. CBIC-190354/62/2023-TRU]
NITISH KARNATAK, Under Secy.

Note: The principal notification No.62/2022-Customs, dated the 26th day of December, 2022 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 904(E), dated the 26th day of December, 2022, and was last amended vide notification No. 36/2023-Customs, dated the 29th day of April, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number (iii) after S. No. 7 and the entries relating thereto, the following S.No. and entries shall be inserted, G.S.R. 333(E), dated the 1st day of May, 2023.

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