CUSTOMS Notification No 86 of 2018 dated 31st December, 2018

Posted on 11 June 2022 Category : Notifications

Notification no 86/2018 Customs date on 31st December, 2018

seeks to amend notification no. 296/76 dated 02.08.1976 to exempt temporary importation of private road vehicles from IGST and compensation cess.

The extract of CUSTOMS Notification No. 86/2018- CUSTOMS is given below:

Notification No. 86/2018-CUSTOMS

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

Notification No. 86/2018 – Customs

New Delhi, the 31^th December, 2018

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of Customs Tariff Act, 1975 (51 of 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. 296/76-Customs, dated the 2^nd August, 1976, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 665 (E), dated the 2^nd August, 1976, namely:-

In the said notification, -

(i) in the opening paragraph, after the words, figures and brackets, “the Customs Act, 1962 (52 of 1962)”, the words, brackets and figures, “and sub-section (12) of section 3 of Customs Tariff Act, 1975 (51 of 1975),” shall be inserted;

(ii) for the words, “additional duty” wherever they occur, the words “integrated tax and goods and services compensation cess”, shall be substituted.

This notification shall come into force with effect from the 1^st day of January, 2019. [F. No. 354/432/2018-TRU (Pt-I)]

(Gunjan Kumar Verma)

Under Secretary to the Government of India

Note: The principal notification No. 296/76- Customs, dated the 2^nd August, 1976 was published in the Gazette of India, Extraordinary vide number G.S.R. 665 (E), dated the 2^nd August, 1976 and was last amended by notification No. 101/1995-Customs, dated the 26^th May, 1995, published in the Gazette of India, Extraordinary, vide number G.S.R. 428(E), dated the 26^th May, 1995.

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