Reetu | Dec 8, 2023 |
CBIC exempts Imports of Yellow Peas from applicable BCD and AIDC
The Central Board of Indirect Taxes and Customs (CBIC) has notified exemption on the customs duty and Agriculture Infrastructure and Development Cess for the import of Yellow Peas (0713 10 10) into India via issuing a Notification.
With effect from December 8, 2023, to March 31, 2024, this exemption is considered necessary in the public interest under the powers granted by the Finance Act of 2021 and the Customs Act of 1962.
The Notification Stated:
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with section 124 of the Finance Act, 2021 (13 of 2021), the Central Government, on being satisfied that it is necessary for the public interest so to do, hereby exempts the goods of the description specified in column (3) of the Table below, falling under the tariff item of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the ‘Customs Tariff Act’), specified in the corresponding entry in column (2) of the said Table, when imported into India, from the whole of the duty of customs leviable thereon under the First Schedule to the Customs Tariff Act and from the whole of the Agriculture Infrastructure and Development Cess leviable thereon under the said section of the Finance Act, 2021(13 of 2021), namely:-
This notification shall come into force with effect from the 8th day of December, 2023, and shall remain in force up to and inclusive of the 31st day of March, 2024.
For Official Notification Download PDF Given Below:
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