Ministry of Finance, Department of Revenue, has issued a significant notification, No. 68/2023-Customs, on the 29th of December, 2023, amending the Customs Act of 1962. This update, empowered by section 25(1) of the Customs Act, brings substantial changes, superseding the earlier notification No. 62/2022-Customs issued on 26th December, 2022. Stakeholders must familiarize themselves with the amended provisions outlined in TABLE I and prepare for compliance as the changes come into effect on the 1st of January, 2024.
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 68/2023-Customs | Dated: 29th December, 2023
G.S.R. 929(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. For TABLE I, the following Table shall be substituted, namely: –
2. This notification shall come into force with effect from the 1st day of January, 2024.
[F. No. CBIC-190354/236/2021-TO(TRU-I)-CBEC]
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 by notification No. 38/2023-Customs, dated the 23rd May, 2023, that was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 383(E), dated the 23rd May, 2023.
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Also Read Corrigendum
MINISTRY OF FINANCE
(Department of Revenue)
CORRIGENDUM
New Delhi, the 1st January, 2024
G.S.R. 13(E).—In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 68/2023-Customs, dated the 29th December, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 929 (E), dated the 29th December, 2023, on Page 335, in line 47, for “EL” read “0.0”.
[F. No. CBIC-190354/236/2021-TO(TRU-I)-CBEC]
NITISH KARNATAK, Under Secy
