CBIC issues Circular on Classification of Laboratory Chemicals w.r.t. Notification 62/2024 [Read Circular]
The circular states that only chemicals imported in limited quantities for personal use in laboratories qualify under this heading, and those intended for commercial activities are subject to different tariff classifications under first schedule based on their properties and use
By Navasree A.M - On September 24, 2024 12:13 pm - 2 mins read
The Central Board of Indirect Taxes and Customs ( CBIC ) has issued a circular no. 18/2024 providing clarification on the classification of laboratory chemicals following the implementation of Notification No. 62/2024-Customs (N.T.), dated September 19, 2024. This notification amends Note 3 of Chapter 98 in the First Schedule of the Customs Tariff Act, 1975….
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