01/2024-Customs : Seeks to amend Second Schedule to the Customs Tariff Act to prescribe export duty of 50% on exports of Molasses (HS 1703).

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[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. 01/2024-Customs New Delhi, the 15th January, 2024 G.S.R. ......(E). - Whereas, the Central Government is satisfied that export duty should be levied on certain articles and that circumstances exist which render it necessary to take immediate action. Now, therefore, in exercise of the powers conferred by sub-section (1) of section 8 of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), the Central Government, hereby directs that the Second Schedule to the Customs Tariff Act shall be amended in the following manner, namely: - In the Second Schedule to the Customs Tariff Act, after S. No. 9A and the entries relating thereto, the following Sl. No. and entries relating thereto shall be inserted, namely: - (1) (2) (3) (4) “9B. 1703 Molasses resulting from the extraction or refining of sugar 50%”; 2. This notification shall come into force on the 18th of January, 2024. [F. No. CBIC-190354/9/2024-TO(TRU-I)] (Amreeta Titus) Deputy Secretary