Amending Customs duty exemption on import of textile machineries
Amending Customs duty exemption on import of textile machineries
Seeks to amend notification No. 50/2017 -Customs dated 30.06.2017 in order to modify Customs duty exemption provided to textile machineries – NOTIFICATION No. 52/2023-Customs
G.S.R 653(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, for S.No. 460 and the entries relating thereto, the following S.No. and entries shall be substituted, namely:-
| (1) | (2) | (3) | (4) | (5) | (6) |
| “460. | 8446, 8448 | The following goods (other than old and used) for use in the textile industry, namely: – (i) Shuttleless Rapier Looms [above 650 meters per minute]; (ii) Shuttleless Waterjet Looms [above 800 meters per minute]; (iii) Shuttleless Airjet Looms [above 1000 meters per minute]; (iv) Parts and components for use in manufacturing of shuttleless looms Provided that nothing contained in this S.No. shall have effect after 31st March, 2025 | Nil Nil Nil Nil | – – – – | – – – 9”. |
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. 46/2023-Customs, dated the 26th July, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i), vide number G.S.R. 557(E), dated the 26th July, 2023.
