The Central Board of Indirect Taxes and Customs (CBIC) has notified the amendment affecting the customs duty and Integrated Goods and Service Tax (IGST) rates for imported goods, specifically excluding vessels and floating structures imported for breaking up.Â
The Ministry of Finance (Department of Revenue) has released Notification No. 15/2025-Customs, dated February 20, 2025, under the Customs Act, 1962, and the Customs Tariff Act, 1975. This latest notification introduces crucial amendments to the previously issued Notification No. 50/2017-Customs, originally published on June 30, 2017.
The amendment specifically impacts the table entries under Serial Numbers 551 and 555, replacing the prior entry “84”in Column (6) with a blank entry (“-“). These changes have been implemented with immediate effect.
It’s worth noting that the principal notification has undergone several amendments, with the most recent update being Notification No. 05/2025-Customs, dated February 1, 2025.
For more details and official documentation, stakeholders are advised to refer to the latest Customs notifications on the official website.
Notification Details
Notification No. 15 /2025-Customs
Date: 20/02/2025
Read More: DRI Busts 7 Fake Indian Currency Note Modules Across India; 9 Arrested
