Introduction: The Ministry of Finance, Department of Revenue, has issued Notification No. 16/2024 dated March 12, 2024, bringing amendments to the Customs Act, 1962, and the Customs Tariff Act, 1975. These amendments are aimed at addressing public interest concerns and ensuring regulatory compliance within the customs framework.
Detailed Analysis:
1. Amendments Overview:
- The notification introduces amendments to the existing customs regulations, specifically targeting certain items for modification.
- Notable amendments include alterations in the classification and duty rates for specific goods used in the manufacture of X-ray machines for medical, surgical, dental, or veterinary purposes.
2. Key Changes:
- The notification substitutes certain items, such as the “High Frequency X-Ray Generator (>25KHz),” with updated classifications to maintain accuracy and relevance.
- Additional items are included in the notification, expanding the scope of goods covered under the customs regulations related to X-ray machine manufacturing.
- Duty rates for the specified items are revised to ensure consistency with the evolving regulatory landscape and to facilitate trade practices effectively.
3. Implications:
- These amendments aim to streamline customs procedures and promote the manufacturing of essential medical equipment, such as X-ray machines.
- By updating classifications and duty rates, the government seeks to enhance transparency and compliance while fostering growth in the healthcare sector.
- Businesses involved in the production or import of X-ray machine components must familiarize themselves with the revised regulations to avoid any disruptions in operations and ensure adherence to legal requirements.
Conclusion: The Ministry of Finance’s Notification No. 16/2024 signifies the government’s commitment to adapting customs regulations to meet evolving industry needs and public interest demands. By introducing targeted amendments, particularly in the realm of X-ray machine manufacturing, the notification aims to facilitate smoother trade processes while supporting the healthcare sector’s growth agenda. Businesses and stakeholders are encouraged to stay informed and compliant with these regulatory changes to navigate the customs landscape effectively.
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MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 16/2024 – Customs | Dated : 12th March, 2024
G.S.R. 183.(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 30th June, 2017, 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, namely :-
In the said notification, in the Table, –
(i) against S. No. 563A, in column (3), in entry (ii), for item (e), the following item shall be substituted, namely: –
“(e) High Frequency X-Ray Generator (>25KHz) (9022 14 10);”
(ii) after S. No. 563A, the following S. Nos. and entries shall be inserted, namely: –
|
(1) |
(2) | (3) | (4) | (5) | (6) |
| “563B | 9022 14 10 | High Frequency X-Ray Generator (>25KHz, >=500mA) for use in manufacture of X-ray machines for medical, surgical, dental or veterinary use (9022 14 20 or 9022 14 90) | 10% | – | 9 |
| 563C | 9022 90 90 | The following goods for use in manufacture of X-ray machines for medical, surgical, dental or veterinary use (9022 14 20 or 9022 14 90), namely: –
(i) Vertical Bucky; (ii) X-Ray Tube Suspension; (iii) X-Ray Grid; |
10% | – | 9 |
| 563D | 9022 29 00 or 9022 90 90 | Multi Leaf Collimator/ Iris for use in manufacture of X-ray machines for medical, surgical, dental or veterinary use (9022 14 20 or 9022 14 90) | 10% | – | 9” |
(iii) against S. No. 564, in column (3), for item (e), the following item shall be substituted, namely: –
“(e) High Frequency X-Ray Generator (>25KHz) (9022 14 10);”
2. This notification shall come into force on the 1st day of April, 2024.
[F. No. CBIC-190354/15/2023-TRU Section-CBEC]
VIKRAM VIJAY 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. 13/2024-Customs, dated the 6th March, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 158 (E), dated the 6th March, 2024.
