Customs Duty Amendment: Condition 84 Removed for Vessel Import and Breaking Up Under Section 25(1)

Central Government amended Notification No. 50/2017-Customs by removing condition no. 84 for entries under S.No. 551 and 555 in exercise of powers under Section 25(1) of Customs Act, 1962 and Section 3(12) of Customs Tariff Act, 1975. The amendment affects customs duty and IGST rates for imported goods, specifically excluding vessels and floating structures imported for breaking up. The modification replaces the entry "84" with "-" in column (6) for the specified serial numbers. The notification takes immediate effect as per Ministry of Finance's directive through Notification No. 15/2025-Customs dated February 20, 2025. .....

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