CBIC extends Exemption from Deposits for Specified goods under Customs Act:

CBIC has extended the deadline for the listed goods to be exempt from deposits until July 1st 2023 in compliance with Section 51A(4) of Customs Act of 1962

Customs Exemption

Reetu

Apr 29, 2023

Last update on Apr 29, 2023

CBIC extends Exemption from Deposits for Specified goods under Customs Act The Central Board of Indirect Taxes and Customs (CBIC) has extended the deadline for the listed goods to be exempt from deposits until July 1st 2023 in compliance with Section 51A(4) of the Customs Act of 1962, which takes effect on April 26, 2023 via issuing Notification. The Notification Stated, "In exercise of the powers conferred by sub-section (4) of section 51A of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs, on being satisfied that it is necessary and expedient to do so, hereby makes the following further amendments to the notification No.19/2022-Customs (N.T.) dated the 30th March 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide S.O. 1512 (E), dated the 30th March, 2022, namely, - In the said notification, in para 2, for the words, "1st May, 2023", the words "1st July, 2023" shall be substituted." For Official Notification Download PDF Given Below:

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Reetu

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Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.