CBIC notifies amendments in wake of FTP 2023

The Central Board of Indirect Taxes and Customs(CBIC) has notified amendments in wake of Foreign Trade Policy 2023 via issuing Notification.

The Notification Stated, “In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby directs that each of the Notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in hereto annexed shall be amended or further amended, as the case may be, in the manner specified in the corresponding entry in below.”

Notification and Amendments:

Notification: 41/99 – Customs dated 28.04.1999 [G.S.R. 289 (E), dated the 28th April, 1999]

Amendments:

In the said Notification, for the words, letters, and figures “Replenishment Authorisation referred to in para 4.36 of the Foreign Trade Policy, 2015 – 2020 notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), vide notification No. 01/2015-2020, dated the 1st April, 2015”, the following words, letters, and figures shall be substituted, namely: –

“Replenishment Authorisation referred to in para 4.35 of the Foreign Trade Policy, 2023 notified by the Government of India, Ministry of Commerce and Industry, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), vide Notification No 1/2023, dated the 31st March, 2023”.

Notification: 42/99-Customs, dated the 28th April, 1999 [G.S.R. 290(E), dated the 28th April, 1999]

Amendments:

In the said Notification: –

(1) in the opening paragraph,

a. for the figures “4.35”, the figures “4.34” shall be substituted;

b. in condition (i), for the figures “3.5.2” the figures “1.26”, and for figures “9.5” the figures “11.03” shall be substituted.

(2) in the Explanation, –

a. for clause (i), the following clause shall be substituted, namely: –

“(i) ‘Foreign Trade Policy’ means Foreign Trade Policy, 2023 notified by the Government of India, Ministry of Commerce and Industry, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub- section (ii) vide Notification No 01/2023, dated the 31st March, 2023.”;

b. for clause (ii), the following clause shall be substituted, namely: –

“(ii) ‘Handbook of Procedures’ means Handbook of Procedures, 2023 notified by the Government of India, Ministry of Commerce and Industry, published in the Gazette of India, Extraordinary, Part I, Section-I vide Public Notice No 1/2023, dated the 1st April, 2023.”

Notification: 56/2000- Customs, dated the 5th May, 2000 [G.S.R. 399 (E), dated the 5th May, 2000]

Amendments:

In the said Notification,

(1) in the opening paragraph, for the words, and figures “paragraph 4.45” the words, and figures “paragraph 4.44” shall be substituted;

(2) in the Explanation, –

i. for clause (a), the following clause shall be substituted, namely: –

“(a) ‘Foreign Trade Policy’ means Foreign Trade Policy, 2023 notified by the Government of India, Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub- section (ii) vide Notification No 01/2023, dated the 31st March, 2023.”;

ii. for clause (b), the following clause shall be substituted, namely: –

“(b) ‘Handbook of Procedures’ means Handbook of Procedures, 2023 notified by the Government of India in the Ministry of Commerce and Industry published in the Gazette of India, Extraordinary, Part-I, Section-I vide Public Notice No 1/2023, dated the 1st April, 2023.”;

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