Introduction: The Ministry of Finance, Department of Revenue, has introduced crucial amendments through Notification No. 10/2024-Customs, dated 19th February, 2024. This notification seeks to modify the existing provisions laid down in the original Customs Notification No. 50/2017-Customs, dated 30th June, 2017.
Detailed Analysis: The amendments focus on several key aspects, primarily affecting tariff rates. New entries, such as S. No. 3AA, introduce a 5% tariff on frozen meat and edible offal of turkeys. Additionally, under S. No. 32AA, 32AB, and 32AC, fresh, frozen, and dried cranberries and blueberries now carry a 10% tariff rate. Further, S. No. 90A and 90B bring in a 5% and 10% tariff on cranberries and blueberries otherwise prepared or preserved.
Changes against specific serial numbers include the substitution of the entry “2202 99” for S. No. 100. Noteworthy is the exemption of staple length exceeding 32.0 mm from tariffs under S. No. 304B.
The effective date for these amendments is 20th February, 2024, as indicated in the notification, allowing stakeholders time for adaptation.
Conclusion: Notification No. 10/2024-Customs represents a significant shift in tariff rates, impacting various commodities. Stakeholders, including importers and exporters, should diligently review and comprehend these changes to ensure compliance. The amendments aim to align with public interest and enhance trade dynamics. Stay informed for a seamless transition into the new regulatory framework.
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MINISTRY OF FINANCE
(Department Of Revenue)
Notification No. 10/2024-Customs | Dated: 19th February, 2024
G.S.R. 115(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), notification No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i), vide number G.S.R. 785(E), dated the 30th June, 2017, namely:-
In the said notification, in the Table, –
(1) after S. No. 3 and the entries relating thereto, the following S. No. and entries shall be inserted, namely: –
| (1) | (2) | (3) | (4) | (5) | (6) |
| “3AA. | 0207 25 00;
0207 27 00 |
Meat and edible offal, of turkeys, frozen | 5% | – | -”; |
(2) after S. No. 32A and the entries relating thereto, the following S. Nos. and entries shall be inserted, namely: –
| (1) | (2) | (0) | (0) | (1) | (2) |
| “32AA. | 0810 40 00 | Cranberries, fresh; Blueberries, fresh |
10% | – | – |
| 32AB. | 0811 90 | Cranberries, frozen; Blueberries, frozen |
10% | – | – |
| 32AC. | 0813 40 90 | Cranberries, dried; Blueberries, dried |
10% | – | -”; |
(3) after S. No. 90 and the entries relating thereto, the following S. Nos. and entries shall be inserted, namely: –
|
(1) |
(2) | (3) | (4) | (5) | (6) |
| “90A. | 2008 93
00 |
Cranberries, otherwise prepared or preserved, whether or not containing added sugar or other sweetening matter or spirit, not elsewhere specified or included | 5% | – | – |
| 90B. | 2008 99 | Blueberries, otherwise prepared or preserved, whether or not containing added sugar or other sweetening matter or spirit, not elsewhere specified or included | 10% | – | -”; |
(4) against S. No. 100, in column (2), for the entry, the entry “2202 99” shall be substituted;
(5) after S. No. 304A and the entries relating thereto, the following S. No. and entries shall be inserted, namely: –
| (1) | (2) | (3) | (4) | (5) | (0) |
| “304B. | 5201 00 25 | Other: of staple length exceeding 32.0 mm | Nil | – | -”. |
2. This notification shall come into force on the 20th of February, 2024.
[F. No. CBIC-190354/166/2023-TO(TRU-I)]
VIKRAM WANERE, Under Secy.
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 was last amended vide notification No. 08/2024-Customs, dated the 30th January, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 78(E), dated the 30th January, 2024.
