The Central Board of Indirect Taxes and Customs ( CBIC ) has amended the levy of export duty on several items in Notification No. 58/2022-Customs dated November 18, 2022, with effect from November 19, 2022.
A nil rate of duty is imposed on the export of several stainless-steel items, including flat-rolled products of stainless steel; other bars and rods of stainless steel; angles, shapes, and sections of stainless steel; bars and rods, hot-rolled, in irregularly wound coils, of other alloy steel, and so on.
“In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) 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. 27/2011- Customs dated the 1st March, 2011, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 153(E), dated the 1st March, 2011, namely :-In the said notification, in the Table,(i) after S. No. 20 and the entries relating thereto, the following S. No. and entries shall be inserted,” a notification issued by the CBIC said.
This notification shall come into force on the 19th day of November, 2022.
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