Page 111 - MA - May 2017

TAX UPDATES

Customs  Seeks to amend Notification No.12/2012-Customs,
dated the 17th March, 2012, so as to allow duty free
Notifications: import of raw sugar upto a quantity of 5 lakh MT
under Tariff Rate Quota (TRQ) upto and inclusive
Tariff:
of 12th June 2017
[Notification No. 12/2017-Cus,dt. 05-04-2017]
 Seeks to exempt goods, falling under the First
Schedule to the Customs Tariff Act, 1975, when  Seeks to amend Notification No. 69/2011-Customs,
imported into India by or along with a unit of dated 29th July, 2011 so as to provide deeper tariff
the Army, the Navy, the Air Force or the Central concessions in respect of specified goods imported
Paramilitary Forces on the occasion of its return under the India-Japan Comprehensive Economic
to India after a tour of service abroad, from basic Partnership Agreement (IJCEPA), w.e.f. 1st of April,
customs duty (BCD), CVD and SAD subject to the 2017.
specified conditions. [Notification No. 11/2017-Cus,dt. 31-03-2017]
[Notification No. 17/2017-Cus,dt. 21-04-2017]
 Amendment to Notification No.12/2012-Customs,
 Seeks to exempt goods falling under chapter 30 dated the 17th March, 2012, so as to impose basic
of first schedule of Customs tariff Act 1975, for customs duty of 10% on wheat and Tur, with
supply under Patient Assistance Programme run immediate effect.
by specified pharmaceutical companies [Notification No. 10/2017-Cus,dt. 28-03-2017]
[Notification No. 16/2017-Cus,dt. 20-04-2017]
 Amendment to Notification No.12/2012-Customs,
 Seeks to amend 8/2011 dated 14.2.2011 so as to so as to reduce the basic customs duty from 30%
extend the exemption of additional duty of Customs to 10% on sunflower seeds falling under tariff item
to specified jute products imported from Nepal 1206 00 90 [i.e. other than of seed quality] for the
[Notification No. 15/2017-Cus,dt. 20-04-2017] purposes extraction and refining of oil subject to
actual user condition, for the period from 1st April,
 Amendment to Notification No.41/1999-Cus to 2017 to 30th September, 2017
align the said notification with para 4.36 of FTP [Notification No. 09/2017-Cus,dt. 01-03-2017]
2015-20 by omitting the word ‘for export’ in the
proviso to the notification  Inclusion of Hazira (Surat) Port in the list of ports
[Notification No. 14/2017-Cus,dt. 18-04-2017] mentioned in Export Promotion (EP) Schemes
Notifications
 seeks to further amend notification No.12/2012- [Notification No. 08/2017-Cus,dt. 23-03-2017]
Customs, dated 17.03.2012 so as to allow the
following changes regarding duty free import Non-Tariff:
of raw sugar [1701], allowed vide notification
No.12/2017-Customs dated 5th, April, 2017:  Rate of exchange of conversion of the foreign
1. Time line for availing TRQ benefit (duty currency with effect from 21st April, 2017
free) for import of raw sugar [1701] has been [Notification No. 40/2017-Cus (NT),dt. 20-04-2017]
extended from 12.06.2017 to 30.06.2017.
2. Actual user condition has been prescribed for  Tariff Notification in respect of Fixation of Tariff
importing raw sugar at Nil rate, availing TRQ Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca
benefit for manufacture of white/ refined sugar. Nut, Gold and Sliver
3. A time line of 2 months, from the date of filing of [Notification No. 39/2017-Cus (NT),dt. 13-04-2017]
bill of entry or the date of entry inwards, whichever
is later, is being prescribed to convert raw sugar into  Amendment to notification no. 78/2014-Customs
white/ refined sugar. (N.T.) dated 16.09.2014
[Notification No. 13/2017-Cus,dt. 13-04-2017] [Notification No. 38/2017-Cus (NT),dt. 13-04-2017]

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