Classification & Customs Duty Implications of Electronically Downloaded I-RECs

In re United Breweries Limited (CAAR Mumbai)

In a notable ruling by the Customs Authority for Advance Rulings (CAAR), Mumbai, the case of M/s. United Breweries Limited raises critical questions about the classification and customs treatment of International Renewable Energy Certificates (I-RECs). The ruling, sought on February 15, 2024, delves into whether I-RECs, acquired electronically, are subject to customs duties and how they should be classified under the Customs Tariff Act, 1975.

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