CBIC notifies Coastal Conversion Provisions for Foreign Vessels with Reconversion Clause within 6 months [Read Notification]

By Navasree A.M - On October 20, 2023 2:29 pm - 2 mins read

CBIC - CBIC notifies Coastal Conversion - Provisions - Foreign Vessels - r Foreign Vessels with Reconversion Clause - TAXSCAN

The central Board of Indirect taxes and Customs (CBIC) vide notification no. 60/2023-Customs issued on 19th October 2023 have notified the provisions for coastal conversion of foreign vessels with a condition of reconversion clause within 6 months with effect from October 20, 2023.

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 and sub-section (12) of section 3 of the Customs Tariff Act, 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, after the entry 551 and the entries relating thereto, the following Sl. No. and entries shall be inserted namely: –