Notification No. 2/2016, Dated 5th August 2016

[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. 2/2016-Customs (SG)

New Delhi, the 5 th August, 2016

G.S.R.             (E). - In exercise of the powers conferred by sub-section (1) of section 8B of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act) read with rules 12, 14 and 17 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, the Central Government, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.1/2016-Customs (SG), dated the 29th March, 2016, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.363(E), dated the 29th March, 2016, namely:-

In the said notification, for paragraph 2, the following paragraph shall be substituted, namely:-

“2. The safeguard duty shall not be imposed on the subject goods, falling under tariff item of the First Schedule to the Customs Tariff Act as specified in the corresponding entry in column (2) of the Table below, when imported into India, at or above the import price on CIF basis as mentioned in the corresponding entry in column (3), in the currency as specified in the corresponding entry in column (5) and as per unit of measurement as specified in the corresponding entry in column (4) of the said Table, namely :-

Explanation. – For the purpose of this notification “import price on CIF basis” means the assessable value as determined under section 14 of the Customs Act, 1962 (52 of 1962).”.

[F.No.354/219/2015-TRU]

(Mohit Tiwari)
Under Secretary to the Government of India

Note: The principal notification No.1/2016-Customs (SG), dated the 29th March, 2016, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.363(E), dated the 29th March, 2016.