Government of India, Ministry of Commerce and Industry, Department of Commerce, has released Public Notice No. 21/2023 DGFT, dated 10th July 2023. This notice focuses on amendments made under Para 2.92 and Annexure-V of Appendix-2A of IIBP 2023, specifically concerning the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA). The amendments are in line with the Ministry of Finance (Department of Revenue) Notification No. 38/2023-Customs, dated 23rd May 2023.
Analysis: The public notice highlights the amendments made to Para 2.92 and Appendix-2A of the handbook of Procedure 2023. These amendments are related to the Tariff Rate Quota (TRQ) under the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA). The IIS codes for cotton under the Ind-Aus ECTA have been revised, and the in-quota rate and TRQ quantity for the calendar year 2023 onwards are specified. The public notice states the specific IIS codes and item descriptions affected by the amendments and clarifies the substitution of the earlier ITC(HS) code 52010020.
Conclusion: The Government of India, Ministry of Commerce and Industry, Department of Commerce, has issued Public Notice No. 21/2023 DGFT, dated 10th July 2023, to announce amendments to the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA). These amendments focus on Para 2.92 and Annexure-V of Appendix-2A of IIBP 2023. Importers and stakeholders involved in cotton imports are advised to review this notice to stay informed about the revised IIS codes and tariff rate quota for cotton under the Ind-Aus ECTA. Compliance with the updated regulations is crucial to ensure smooth trade operations.
Government of India
Ministry of Commerce and Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan, New Delhi
Public Notice No. 21/2023-DGFT | Dated: 10th July 2023
Subject: Amendments under Para 2.92 and Annexure-V of Appendix-2A of IIBP 2023 under India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) -reg
F. No. 01/93/180/05/AM-22/PC-2(B)/Part-I/E-3557-In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy, 2023, as amended from time to time, and in continuation to Public Notice No. 46/2015-20 dated 28.12.2022, the Directorate General of Foreign Trade hereby amends Para 2.92 and Appendix-2A of the handbook of Procedure 2023 for the following items mentioned under Tariff Rate Quota (TRQ) under India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA), in-sync with the Ministry of Finance(Department of Revenue) Notification No. 38/2023-Customs dated 23rd May, 2023 as follows
|
IIS code |
Item Description under Ind- Aus ECTA | In Quota rate (%) | TRQ Quantity Calendar Year 2023 onwards |
| 52010020 | <deleted> | ||
| 52010024 | Cotton of minimum 28 mm staple length | 0% duty | 51,000 MTs , |
| 52010025 | |||
2. Accordingly, TRQ of cotton under the India-Aus ECTA shall be considered for ffC(IIS) codes 52010024 and 52010025 substituting the earlier ITC(HS) code 52010020.
Effect of this Public Notice: ITC(‘ IS) codes for Cotton under India-Aus ECTA TRQ has been revised in-sync with Ministry of Finance (Department of Revenue) Notification No. 38/2023-Customs dated 23rd May, 2023.
(Santosh Kumar Sarangi)
Director General of Foreign Trade &
Ex- officio Addl. Secretary to the Government of India
Email: dgft@nic.in
[Issued from File No. 01/93/180/05/AM-22/PC-2(13)/Part-I/E-355771
