Home India Ministry of Finance In exercise of the powers conferred by subsection 1 of secti...
Date: 2018-01-05 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by subsection 1 of section 25 of the Customs Act, 1962

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

This notification, No. 02/2018-Customs, published in the Gazette of India as G.S.R. 15(E) on January 5, 2018, announces amendments to Notification No. 50/2017-Customs, dated June 30, 2017 (G.S.R. 785(E)). The Central Government, under the powers conferred by Section 25(1) of the Customs Act, 1962, and Section 3(12) of the Customs Tariff Act, 1975, modifies the entry in column 3 against serial number 147 in the table of the principal notification. The revised entry specifies that "All goods including naphtha, other than goods mentioned at S. No. 148, 149, 150, 151, 153, petroleum coke falling under tariff item 2713 11 00 or 2713 12 00" shall be substituted. The amendment is deemed necessary in the public interest. The notification was prepared by Ruchi Bisht, Under Secretary, F. No. 3543612017-TRU. The principal notification was last amended by Notification No. 93/2017-Customs, dated December 21, 2017 (G.S.R. 1533(E)).

Key Entities Referenced

Customs Act, 1962: A legal act that empowers the government to levy and collect customs duties, and to regulate import and export procedures. Customs Tariff Act, 1975: A legal act related to customs tariffs and duties. Central Government: The executive authority responsible for the governance of India. Ministry of Finance, Department of Revenue: A government ministry responsible for financial matters, including revenue collection and taxation. New Delhi: The capital city of India. G.S.R. 785E: A Gazette of India notification number related to customs. G.S.R. 1533 E: A Gazette of India notification number related to customs. petroleum coke: A carbonaceous solid that is the final carbon-rich solid material derived from oil refining, and is one type of many fuels referred to as coke. It falls under tariff item 2713 11 00 or 2713 12 00
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