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Date: 05-Dec-2024 Category: Extra Ordinary State: Union Government Country: India

Corrigendum to Notification No 26 of 2024 Customs ADD

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • This gazette notification is a corrigendum to an earlier notification (26/2024-Customs(ADD)) issued by the Ministry of Finance (Department of Revenue) on December 4, 2024. The original notification dealt with the imposition of additional duties on certain imported goods.
  • This corrigendum is issued to correct a specific error in the calculation of the applicable duty rate.
  • The correction pertains to the calculation of the duty rate when the landed value of the imported goods is less than the value indicated in column (7) of the original notification.

Key Changes

  • The original notification stated that the duty rate should be 'equal to the amount as specified in the corresponding entry in column (7)'.
  • The corrigendum changes this to 'rate equal to the difference between the landed value of subject goods and the amount specified as Duty amount in the corresponding entry in column (7), provided the landed value is less than the value indicated in column (7)'.
  • This means that the duty will now be calculated as the difference between the landed value and the duty amount mentioned in column (7), instead of simply being equal to the amount in column (7), but only when the landed value is lower.
  • The correction is specifically for situations where the landed value of the imported goods is less than the value specified in column (7) of the original notification.

Impact Analysis

Importers

  • Importers must now ensure that they use the corrected calculation method for future imports.

Customs Authorities

  • There may be an increase in administrative work due to processing of refunds.

Government Revenue

  • The government may need to adjust revenue projections accordingly.

Action Items

  • Training programs for customs officials should be conducted to ensure proper implementation.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The government body responsible for issuing the original notification and the corrigendum. Notification 26/2024-Customs(ADD): The original notification regarding additional duties, which is being corrected by this gazette. G.S.R. 749(E): The reference number for the original notification published in the Gazette of India. CBIC: Central Board of Indirect Taxes and Customs; indicated by the reference number F. No. CBIC-190354/182/2024-TRU
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-05122024-259193 xxxGIDHxxx CG-DLxx-xEG-I0D5E1x2x2x0 24-259193 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 689] नई दिल्ली, बृहस्ट्प जतिार, दिसम्ब र 5, 2024/अग्रहा ण 14, 1946 No. 689] NEW DELHI, THURSDAY, DECEMBER 5, 2024/AGRAHAYANA 14, 1946 जित्त ं्ं ाल (रािस्ट्ि जिभाग) िजु ि प् नई दिल् ली, 5 दिसम् बर, 2024 सा.का.जन. 751(अ).—भारत सरकार, जित् त ंं्ाल (रािस्ट्ि जिभाग) क अजधसचनना सं्‍ ा 26/2024-सींा िुल् क (एडीडी), दिनांक 4 दिसंबर, 2024, जिसे सा.का.जन. 749(अ) दिनांक 4 दिसंबर, 2024 के तहत भारत के रािप्, असाधारण, के भाग ।।, खंड 3, उप खंड (i) ंें प्रकाजित ग ा था, ं,ें पृष्ठ स्‍ं ा 2 पर, पंजि 8 और 9 ं,ें - 'उि सारणी के कॉलं (7) क तत्संबंधी प्रजिजि ं ें था जिजनर्ििि राजि के बराबर क िर स'े के स्ट्थान पर 'पर उि जिष गत ंाल के अितरण ंचल् और कॉलं (7) क तत्संबंधी प्रजिजि ं ें जिजनर्ििि उसके िुल्क राजि के अंतर के बराबर क िर से, बिते दक ऐसा अितरण ंचल् कॉलं (7) ं ें ििाि ी गई िुल्क राजि से कं हो' पढ़ें । [फा. सं. सीबीआईसी-190354/182/2024-टीआर च] अंृता टाइटस, उप सजनि 7891 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF FINANCE (Department of Revenue) CORRIGENDUM New Delhi, the 5th December, 2024 G.S.R. 751(E).—In the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 26/2024-CUSTOMS (ADD), dated the 4th December, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 749(E), dated the 4th December, 2024, on Page 4, in line 28, for “rate equal to the amount as specified in the corresponding entry in column (7)” read “rate equal to the difference between the landed value of subject goods and the amount specified as Duty amount in the corresponding entry in column (7), provided the landed value is less than the value indicated in column (7)”. [F. No. CBIC-190354/182/2024-TRU] AMREETA TITUS, Dy. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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