Notification No 60/2023 Customs date on 19th October, 2023
Seeks to amend notification no. 50/2017-Customs in order to implement recommendations made by the GST Council during its 52nd Meeting with respect to GST rates on goods.
The extract of CUSTOMS Notification No. 60/2023- CUSTOMS is given below:
Notification No. 60/2023-CUSTOMS
[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification No. 60/2023-Customs
New Delhi, dated the 19th October, 2023
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 the 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. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017, namely :-
In the said notification, in the Table, after the entry 551 and the entries relating thereto, the following Sl. No. and entries shall be inserted namely: -
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1
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2
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3
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4
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5
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6
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“551 A.
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8901
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Foreign Going Vessel converted for a coastal run:
Provided that such vessel re-converts to a foreign going vessel within six months from the date of such conversion.
Explanation. - For the purpose of this entry,
(i) “Foreign going vessel” shall have the same meaning as assigned to it under clause (21) of Section 2 of the Customs Act1962.
(ii) “Conversion to coastal Vessel” shall include the vessel granted necessary license under the Merchant Shipping Act,1958
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-
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Nil
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-”;
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- in the Annexure, -
(I) in List 34A, for the entries, the following entries shall be substituted, namely:-
“1. Axis Bank Limited
2. Bank of India
3. Federal Bank Limited
4. HDFC Bank Limited
5. Industrial and Commercial Bank of China Limited
6. ICICI Bank Limited
7. IndusInd Bank Limited
8. Indian Overseas Bank
9. Kotak Mahindra Bank Limited
10. Karur Vysya Bank Limited
11. Punjab National Bank
12. RBL Bank Limited
13. State Bank of India
14. Union Bank of India
15. Yes Bank Limited”
(II) in List 34B, item number 2 and the entries relating thereto shall be omitted.
- This notification shall come into force with effect from the 20th day of October, 2023.
[F. No. CBIC-190354/195/2023-TO(TRU-II)]
Vikram Wanere
Under Secretary
Note: - The principal notification No. 50/2017-Customs, dated the 30th June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 785(E)., dated the 30th June, 2017 and was last amended vide notification No. 54/2023-Customs, dated the 14th September, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 668(E)., dated the 14th September, 2023.