CBIC amends Import Duty Rate of Liquified Propane and Butane [Read Notification]
CBIC amends Import Duty Rate of – Liquified Propane and Butane – TAXSCAN
CBIC amends Import Duty Rate of – Liquified Propane and Butane – TAXSCAN
The Central Board of Indirect Taxes and Customs (CBIC) amended the import duty rate of the Liquified Propane and Liquified Butane vide notification No. 43/2023-Customs, 44/2023-Customs and 45/2023-Customs issued on 1st July 2023. The notification shall come into force on immediate effect.
The board not only increased the import rate duty to 15%, but also inserted new entries after S.No. 153 of the First Schedule to the Customs Tariff Act, 1975.
The Central Government, after being content with the current import duty imposed on Liquified Propane (classified under CTH 2711 12 00) and Liquified Butane (classified under CTH 2711 13 00) as stated in the First Schedule of the Customs Tariff Act, 1975 (51 of 1975), has recognized the need to increase it. Furthermore, the government has identified circumstances that require immediate action to be taken in this regard.
According to the notification No. 43/2023-Customs “NOW, therefore, in exercise of the powers conferred by sub-section (1) of section 8A of the said Customs Tariff Act, the Central Government, hereby directs that the First Schedule to the said Customs Tariff Act, shall be amended in the following manner, namely:-
In the First Schedule to the said Customs Tariff Act, in Chapter 27, for the entry in column (4) occurring against tariff items 2711 12 00 and 2711 13 00, the entry “15%” shall be substituted.”
In accordance with the Notification no. 44/2023-Customs, in the Table, after Sl. No. 153 and the entries relating thereto, the following S. No. and entries shall be inserted.
| (1) | (2) | (3) | (4) | (5) | (6) |
| “153A | 27111200, 27111300 | Liquified Propane Liquified Butane | 2.5% | - | - |
Further, new entries after Sl. No. 10, and the entries relating thereto, the following Sl. No. and entries shall be inserted in pursuance with the Notification No. 45/2023-Customs.
| (1) | (2) | (3) | (4) |
| “10AA | 27111200, 27111300 | Liquified Propane Liquified Butane | 15% |
It was also added in the notification that After the TABLE the following provisos shall be inserted,-
“Provided that nothing contained in S.No 10AA shall apply to imports of Liquified Propane and Liquified Butane mixture , Liquified Propane and Liquified Butane by the Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited or Bharat Petroleum Corporation Limited for supply to household domestic consumers or to Non-Domestic Exempted Category (NDEC) customers;
Provided further that nothing contained in Sl. No 10 B shall apply to imports of Liquified Petroleum Gas by the Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited or Bharat Petroleum Corporation Limited for supply to household domestic consumers or to Non-Domestic Exempted Category (NDEC) customers;”
To Read the full text of the Order CLICK HERE
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