CBIC withdraws IGST Exemption on Import of certain specified goods by Research Institutions

CBIC withdraws IGST Exemption on Import of certain specified goods by Research Institutions The Central Board of Indirect Taxes and Custom(CBIC) vide Notification No. 42/2022-Customs dated 13th July 2022 Notifies withdrawn of IGST Exemption on import of certain specified goods by Research Institutions. The Notification is Given Below: G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3, of Customs Tariff Act, 1975 (51 of 1975), 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. 51/96-Customs, dated the 23rdJuly, 1996, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 303(E), dated the 23rdJuly, 1996, namely :-

In the said notification, the words, brackets and figures, “and from the whole of integrated tax leviable thereon under sub-section (7) of section 3of the said Customs Tariff Act”, shall be omitted.

2. This notification shall come into force on the 18th day of July, 2022. For Official Notification Download PDF Given Below: