The Central Board of Indirect Taxes and Customs (CBIC) has notified the increase of basic customs duty and AIDC on the import of platinum.
As per a notification issued on Monday, the Board said that “Goods, other than the following: – (a) Platinum and Palladium for use in the manufacture of: – (i) all goods, including Noble Metal Compounds and Noble Metal Solutions, falling under heading 2843; (ii) all goods falling under sub-heading 3815 12; (iii) catalytic convertors falling under tariff item 8421 32 00; Provided that, the importer follows the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022.”
“In the said notification, in the Table, against S. No. 364B, in column (2), for the entry “7107 00 00, 7109 00 00, 7110, 7111 00 00, 7112, 7118”, the entry “7107 00 00, 7109 00 00, 7111 00 00, 7112, 7118” shall be substituted.”
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