CBIC extends Exemption from Deposits for Specified goods u/s 51A(4) of Customs Act till 1st Dec 2023 [Read Notification]

The Central Board of Indirect Taxes and Customs (CBIC) vide notification no. No. 70/2023-Customs (N.T.) S.O. 4254(E) has extended the exemption from deposits for specified goods under Section 51A(4) of the Customs Act till 1st December 2023.

The CBIC is in the position of implementing the different indirect tax regulations to make sure that the taxpayers comply with them. Besides, as a support to legal trade and commerce, it is also in charge of collecting and managing indirect tax revenue, combating smuggling and other types of tax evasion.

As per the Principal Notification No.19/2022-Customs (N.T.) dated the 30th March 2022, specific goods were exempted under Section 51A(4) of Customs Act, 1962. Some of them are goods imported or exported in customs stations where the customs automated system is not in place, accompanied baggage.etc.

The notification states “ In exercise of the powers conferred by sub-section (4) of section 51A of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs, on being satisfied that it is necessary and expedient to do so, hereby makes the following further amendments to the Notification No.19/2022-Customs (N.T.) dated the 30th March, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide S.O. 1512 (E), dated the 30th March, 2022, namely, -

In the said notification, in para 2, for the words, '1st October, 2023', the words '1 st December, 2023' shall be substituted.”

To Read the full text of the Order CLICK HERE

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