[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. 55/2018 –Customs
New Delhi, the
26th July, 2018
G.S.R......(E).- In exercise of the powers conferred
by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and
sub-section (12) of section 3 of Customs Tariff Act, 1975, (51 of 1975), the
Central Government, being satisfied that it is necessary in the public interest
so to do, hereby exempts the Integrated Goods and Services Tax, leviable under
subsection (7) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), as in
excess of the amount calculated over and above the value at which Ministry of
Chemical and Fertilizers/Department of Fertilizers sells urea, falling under
tariff item 3102 10 00 of the First Schedule of the Customs Tariff Act, 1975
(51 of 1975), to Fertilizer Marketing Entities (FMEs) on high sea sale basis
(commonly known as “Pool Issue Price”).
2. This
notification shall come into force on the 27th July, 2018.
[F.No.354/255/2018-TRU]
(Gunjan Kumar
Verma)
Under Secretary to the Government of India
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