Gold Duty Shifted from Basic
to AIDC, Total Duty Remains at 14%
·
BCD Rate on Gold Imported under TRQ under
India-UAE CEPA Cut to 10% from 11.5%,
AIDC Raised to 4% from 2.5%
[Notification No. 08/2023-Customs dated
1 February 2023]
Seeks to further amend notification No.
22/2022-Customs regarding India-UAE Comprehensive Economic Partnership
Agreement.
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), the Central Government, 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. 22/2022-Customs, dated
the 30th April, 2022, published in the Gazette of India, Extraordinary,
Part II, section 3, sub-section (i), vide number
G.S.R. 328(E), dated the 30th April, 2022, namely :-
In the said
notification, in Table III, against S. No. 12, for the entries under
columns (5) and (6), the
entries, “10” and “4” shall
respectively be substituted.
2. This
notification shall come into force on the 2nd day of February, 2023.
[F. No.
334/03/2023-TRU]
Amended
entry read as below
|
SNo. |
Tariff Item |
Description |
Tariff Rate Quota Quantity |
In-quota Tariff rate |
In quota AIDC rate |
Condition |
|
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
|
12 |
71081100, 71081200, 71081300 |
All goods other than Gold Dore Bar |
120 tonnes for all goods combined |
10 |
4 |
1 and 2 |
[08/01.02.2023 – Table III, against
S. No. 12, in Column (5), and (6), the entries “10”, and “4” respectively
substituted - BCD
rate on Gold imported under TRQ of India-UAE CEPA]