CBIC notifies fourth tranche of India-Mauritius CECPA

CBIC amends notification No. 25/2021- Customs dated 31.03.2021 vide Notification No. 18/2024-Customs | Dated: 14th March, 2024, in order to notify fourth tranche of India-Mauritius CECPA

The Central Board of Indirect Taxes and Customs (CBIC) has recently issued Notification No. 18/2024-Customs on 14th March 2024, amending the previous Notification No. 25/2021-Customs dated 31st March 2021. This amendment has been made in exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962. The purpose of this amendment is to notify the fourth tranche of the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) in the interest of the public.

The key amendments made in the notification include changes in the tariff rates for various goods as listed in Table 1 and Table 2 of the notification. Table 1 provides details of tariff items along with their descriptions and the applicable rates of duty, unless otherwise specified. Meanwhile, Table 2 outlines the extent of tariff concessions, expressed as a percentage of the applied rate of duty, for specific tariff items.

Table 1 has been updated with revised tariff rates for a wide range of goods, including fish body oil, food preparations, chemicals, textiles, and various other products. Notably, these amendments aim to streamline the tariff structure to facilitate trade between India and Mauritius and promote economic cooperation between the two countries. The adjustments in tariff rates are intended to create a conducive environment for bilateral trade and investment, benefiting businesses and consumers in both nations.

Similarly, Table 2 reflects the extent of tariff concessions granted for specific tariff items, further enhancing trade relations between India and Mauritius. These concessions are aimed at promoting the export and import of goods between the two countries, thereby fostering economic growth and development.

It’s essential to note that the amendments outlined in Notification No. 18/2024-Customs will come into effect from the 1st day of April 2024. This gives stakeholders, including importers, exporters, and customs authorities, adequate time to prepare for the implementation of the revised tariff rates and concessions.

In conclusion, the latest amendment by CBIC to the customs notification signifies a significant step towards strengthening trade ties between India and Mauritius. By incorporating the fourth tranche of the India-Mauritius CECPA, these amendments are poised to facilitate smoother trade operations, promote investment flows, and contribute to the overall economic prosperity of both nations.

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MINISTRY OF FINANCE
(Department of Revenue)
New Delhi

Notification No. 18/2024-Customs | Dated: 14th March, 2024

G.S.R. 196(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, Ministry of Finance (Department of Revenue), No.25/2021-Customs, dated the 31^st March, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 241 (E), dated the 31^st March, 2021, namely :-

In the said notification, –

(i) for TABLE 1, the following Table shall be substituted, namely: –

“TABLE 1

(ii) for TABLE 2, the following Table shall be substituted, namely: –

“TABLE 2

2. This notification shall come into force on the 1^st day of April 2024.

[F. No. CBIC-190354/49/2021-TRU]

VIKRAM VIJAY WANERE, Under Secy.

Note : The principal notification No. 25/2021-Customs, dated the 31^st March, 2021, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 241(E), dated the 31^st March, 2021, and was last amended vide notification No. 36/2023-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 333(E), dated the 29^th April, 2023.