The Central Board of Indirect Taxes and Customs (CBIC) recently announced certain amendments in the First Schedule to the Customs Tariff Act, 1975 vide Notification No. 72/2023(N.T.) dated 30th September 2023. Available here
The amendments primarily focused on following two aspects :
- Spirits for industrial use– new entry with CTH 2207 10 12 has been inserted for ‘spirits for industrial use’ with a customs duty of 150%. Also, a note has been added to define ‘spirits for industrial use’
- Actionable claims related to online money gaming –
(i) Heading for Chapter 98 has been amended to include actionable claims;
(ii) A new note has been inserted defining the terms ‘Online money gaming’ and ‘Specified actionable claims’; and
(iii) Tariff item 9807 has been inserted covering various actionable claims involved in or by way of betting, casinos, gambling, horse racing, lottery, and online money gaming with a Nil Customs duty rate.
These amendments shall come into effect from 1st October 2023.