The Central Board of Indirect taxes and Customs (CBIC) has extended the exemption of Customs duty and Agriculture Infrastructure and Development Cess (AIDC) on the import of cotton till 31st October 2022.
In April this year, the Board issued a notification to declare exemption from levy of Customs Duty and Agriculture Infrastructure and Development Cess (AIDC) on import of goods namely Cotton, not carded or combed falling under HSN 5201 w.e.f. 14th April, 2022. In this regard, notification has been issued which shall remain in force up to and inclusive of 30th September, 2022.
A notification issued by the Board on Monday said that “In the said notification, in paragraph 2, for the figures, letters, and word “30th September, 2022”, the figures, letters and word “31st October, 2022” shall be substituted.”
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