Syncing of ITC (HS), 2022- Schedule-1 with Finance Act 2024

Syncing of ITC (HS), 2022- Schedule-1 (Import Policy) with Finance Act 2024 (No.2 of 2024) dated 16.08.2024 -Notification No. 40 /2024-25

S.O. (E): In exercise of powers conferred by Section 3 read with Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (as amended from time to time) read with paragraph 1.02 and 2.01 of the Foreign Trade Policy 2023, the Central Government hereby amends ‘ITC (HS) 2022, Schedule-I (Import Policy)’ in sync with the Finance Act 2024 (No.2 of 2024) as follows –

• The      List          of       ITC (HS)       codes       and       related       Policy Conditions
  inserted/deleted/amended/split/merged under ITC(HS) 2022, Schedule-I (Import Policy) in sync with the Finance Act, 2024 is annexed herewith (Annexure-I).
• The amendments in the Section Notes, Chapter-wise Main Notes, Supplementary Notes, Chapter heading, sub-headings and description of ITC (HS) codes in sync with the Finance Act, 2024 are annexed herewith (Annexure-II).
• The updated ITC (HS) 2022 shall be available on the website of DGFT.
  (https://dgft.gov.in).

Effect of this Notification: ITC (HS) 2022, (Schedule-I) Import Policy is amended in sync with the Finance Act, 2024 (No.2 of 2024) dated 16.08.2024. This shall come into force with immediate effect. This issues with the approval of Minister of Commerce & Industry.

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