Clause 123 - Amendment of section 25. - Finance Bill, 2023

CHAPTER IV INDIRECT TAXES Customs Amendment of section 25. 123. In the Customs Act, 1962 (52 of 1962) (hereinafter referred to as the Customs Act), in section 25, in sub-section (4A), after the proviso, the following proviso shall be inserted, namely: . Provided further that nothing contained in this subsection shall apply to any such exemption granted to, or in relation to, (a) any multilateral or bilateral trade agreement; (b) obligations under international agreements, treaties, conventions or such other obligations including with respect to United Nations agencies, diplomats and international organisations; (c) privileges of constitutional authorities; (d) schemes under the Foreign Trade Policy; (e) the Central Government schemes having validity of more than two years; (f) re-imports, temporary imports, goods imported as gifts or personal baggage; (g) any duty of customs under any law for the time being in force, including integrated tax leviable under sub-section (7) of section 3 of the Customs Tariff Act,1975 (51 of 1975), other than duty of customs leviable under section 12. .