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Date: 23-Aug-2024 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by section 75 of the Customs Act, 1962 (52 of 1962) and sub section (2) of section 37 of the Central Excise Act, 1944 (1 of 1944), read with rules 3 and 4 of the Customs and Central Excise Duties Drawback Rules 2017

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • This gazette notification, issued by the Ministry of Finance (Department of Revenue), India, on August 23, 2024, further amends Notification No. 77/2023-Customs (N.T.) dated October 20, 2023. This original notification, and subsequent amendments, relate to customs duties and specifically deals with modifications to drawback rates for certain tariff items under the Customs Act, 1962 and the Central Excise Act, 1944.

Key Changes

  • The notification amends the drawback rates specified in Schedule, Chapter 71 of Notification No. 77/2023-Customs (N.T.).
  • Specific changes are made to the figures in column (4) (presumably representing drawback rates) against the following tariff items:
  • Tariff Item 711301: Drawback rate reduced from 704.1 to 335.50.
  • Tariff Item 711302: Drawback rate reduced from 8949 to 4468.10.
  • Tariff Item 711401: Drawback rate reduced from 8949 to 4468.10.

Impact Analysis

Impact on Importers/Exporters

  • Action Item: Businesses should review their import/export operations, recalculate their costs, and adjust pricing strategies accordingly. They should also analyze the impact on their profitability and explore potential mitigation strategies.

Impact on Government Revenue

  • Action Item: The government should monitor the impact of these changes on export competitiveness and overall economic activity.

Impact on Customs Officials

  • Action Item: Training and updated guidelines may be required for customs officials to ensure consistent and accurate application of the amended drawback rates.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The issuing authority of the notification. Responsible for overseeing customs and excise duties in India. Customs Act, 1962 (52 of 1962): The primary legislation governing customs duties in India. This act provides the legal basis for the notification. Central Excise Act, 1944 (1 of 1944): Legislation related to excise duties in India. Referenced in the notification in conjunction with the Customs Act. Customs and Central Excise Duties Drawback Rules, 2017: Rules that govern the calculation and payment of drawbacks on customs and central excise duties. The notification refers to rules 3 and 4 of this legislation. Notification No. 77/2023 – Customs (N.T.), dated the 20th October, 2023: The principal notification that is being amended by this gazette notification. Notification No. 33/2024- Customs (N.T.), dated the 30th April, 2024: A previous amendment to Notification No. 77/2023.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-23082024-256611 CG-DxLx-xEG-I2D3H0x8x2x0 24-256611 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 478] नई दिल्ली, िुक्रिार, अगस्ट्त 23, 2024/भाद्र 1, 1946 No. 478] NEW DELHI, FRIDAY, AUGUST 23, 2024/BHADRA 1, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) अजधसचू ना नई दिल्ली, 23 अगस्ट् त, 2024 स.ं 55/2024–सीमािल्ु क (ग.ैट.े ) सा.का.जन. 517(अ).—सीमािल्ु क एि ं केंद्रीय उत्पाि िुल्क प्रजतअिायगी जनयमािली, 2017 के जनयम 3 और 4 के साथ पठित सीमािल्ु क अजधजनयम, 1962 (1962 का 52) की धारा 75 और केंद्रीय उत्पाि िल्ु क अजधजनयम, 1944 (1944 का 1) की धारा 37 की उप-धारा (2) द्वारा प्रित्त िजियों के प्रयोग करते हुए, केंद्र सरकार, 20 अक्टूबर, 2023 की सा.का.जन. 792(अ) के तहत प्रकाजित भारत सरकार, जित्त मंत्रालय (रािस्ट्ि जिभाग) संख्या 77/2023–सीमा िुल्क (ग.ैटे.) दिनांक 20 अक्टूबर, 2023 की अजधसूचना म ेंआग े जनम्नजलजखत संिोधन करती ह,ै नामत:- उि अजधसूचना म,ें अनुसूची म,ें अध्याय – 71 म,ें - (i) टैठरफ मि 711301 के सामन,े कॉलम (4) की प्रजिजि म,ें आंकडों के जलए “704.1” के जलए “335.50” को अंत:स्ट्थाजपत दकया िाएगा; (ii) टैठरफ मि 711302 के सामन,े कॉलम (4) की प्रजिजि म,ें आंकडों के जलए “8949” के जलए “4468.10” को अंत:स्ट्थाजपत दकया िाएगा; 5400 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] (iii) टैठरफ मि 711401 के सामन,े कॉलम (4) की प्रजिजि म,ें आंकडों के जलए “8949” के जलए “4468.10” को अंत:स्ट्थाजपत दकया िाएगा। [फा. सं. 605/13/2023-(डीबीके)] कजपल प्रिापजत, अिर सजचि ठटप्पणी:- मूल अजधसूचना संख्या 77/2023–सीमा िुल्क (ग.ैटे.), दिनांक 20 अक्टूबर, 2023 जिसे भारत के रािपत्र असाधारण, भाग II, खंड 3, उप-खंड (i) म ें दिनांक 20 अक्टूबर, 2023 के सा.का.जन. 792 (अ), के माध्यम से प्रकाजित दकया गया था और इसम ें अंजतम बार अजधसूचना संख्या 33/2024–सीमा िुल्क (ग.ै टे), दिनांक 30 अप्रैल, 2024 जिसे सा.का.जन. 268(अ) दिनांक 30 अप्रैल, 2024 के तहत भारत के रािपत्र असाधारण, भाग II, खंड 3, उप-खंड (i) म ें प्रकाजित दकया गया था, के द्वारा संिोधन दकया गया था। MINISTRY OF FINANCE (Department Of Revenue) NOTIFICATION New Delhi, the 23rd August, 2024 No. 55/2024 – Customs (N.T.) G.S.R. 517(E).—In exercise of the powers conferred by section 75 of the Customs Act, 1962 (52 of 1962) and sub-section (2) of section 37 of the Central Excise Act, 1944 (1 of 1944), read with rules 3 and 4 of the Customs and Central Excise Duties Drawback Rules, 2017, the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 77/2023 – Customs (N.T.), dated the 20th October, 2023, published vide number G.S.R. 792 (E), dated the 20th October, 2023, namely:- In the said notification, in the Schedule, in Chapter -71,- (i) against tariff item 711301, in the entry in column (4), for the figures “704.1”, the figures “335.50” shall be substituted; (ii) against tariff item 711302, in the entry in column (4), for the figures “8949”, the figures “4468.10” shall be substituted; (iii) against tariff item 711401, in the entry in column (4), for the figures “8949”, the figures “4468.10” shall be substituted. [F. No. 605/13/2023-(DBK)] KAPIL PRAJAPATI, Under Secy. Note : The principal Notification No. 77/2023-Customs (N.T.), dated the 20th October, 2023 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 20th October, 2023 vide number G.S.R. 792(E), dated the 20th October, 2023 and was last amended by Notification No. 33/2024- Customs (N.T.), dated the 30th April, 2024 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 30th April, 2024 vide number G.S.R. 268(E), dated the 30th April, 2024. 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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