The Central Government has notified exemptions from customs duty in respect of the following imports under the India-Australia Economic Co-operation and Trade Agreement (Ind-Aus ECTA), in exercise of the powers conferred by Section 25(1) of the Customs Act, 1962, vide Customs Notification 62/2022 dt. 26/12/2022 – G.S.R. 904(E), applicable w.e.f. 29/12/2022.
(i) Goods and Items of the Description falling in Columns 2 and 3 of TABLE I (appended in attached Notification) and falling under Tariff item of the First Schedule to the Customs Tariff Act:
Exemption from so much of the duty of customs leviable thereon as is in excess of the amount calculated at the rate specified in the corresponding entries in column (4) of the TABLE I.
(ii) Goods and Items of the Description falling in Columns 2 and 3 of TABLE II (appended in attached Notification) and falling under Tariff Heading/ Item of the First Schedule to the Customs Tariff Act:
Exemption from so much of the duty of customs leviable thereon as is in excess of the amount calculated at the rate specified in the corresponding entries in column (4) of the TABLE II; and
Exemption from so much of the Agriculture Infrastructure and Development Cess (AIDC) leviable under section 124 of the Finance Act, 2021, as is in excess of the amount calculated at the rate specified in the corresponding entries in column (5) of the TABLE II.
(iii) Goods and Items of the Description falling in Columns 2 and 3 of TABLE III (appended in attached Notification) and falling under Tariff item of the First Schedule to the Customs Tariff Act:
Exemption in such quantity of total imports of such goods in a year, as specified in column (5) of the TABLE III, from so much of that portion of the applied rate of duty of customs leviable thereon as is specified in the corresponding entries in column (4) of the TABLE III, subject to any of the conditions specified in this regard in column (6).
Explanation.- For the purposes of this condition, “applied rate of duty” means the sum of the standard rate of duty specified in the First Schedule to the Customs Tariff Act, 1975 and the Agriculture Infrastructure and Development Cess leviable under section 124 of the Finance Act, 2021 in respect of the goods specified in the said TABLE, read in conjunction with any other notification issued in respect of such goods under sub-section (1) of section 25 of the Customs Act, 1975.
(iv) Goods and Items of the Description falling in Columns 2 and 3 of TABLE IV (appended in attached Notification) and falling under Tariff item of the First Schedule to the Customs Tariff Act:
Exemption in such quantity of total imports of such goods in a year, as specified in column (4) of the said TABLE, from so much of the duty of customs leviable thereon under the said First Schedule as is in excess of the amount calculated at the rate as specified in the corresponding entry in column (5) of the TABLE IV; and
Exemption from so much of the Agriculture Infrastructure and Development Cess (AIDC) leviable under section 124 of the Finance Act, 2021, as is in excess of the amount calculated at the rate as specified in the corresponding entry in column (6) of the TABLE IV (In-quota AIDC rate), subject to any of the conditions specified in this regard in column (6), when imported into Republic of India from Australia:
This exemption shall be available only if the importer proves that the goods are of the origin of Australia, in terms of the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 and rules as may be notified in this regard by the Central Government by publication in the official Gazette.
Explanation.- For the purposes of this notification, “year” means the period from the 1st January of any year to the 31st December of that year.
CBIC Notification 62/2022 Customs dt. 26/12/2022: Custom Duty Exemptions (Ind-Aus ECTA)