Notification No. 01/2024-Customs Dated 15/01/2024-Seeks to amend Second Schedule to the Customs Tariff Act to prescribe export duty of 50% on exports of Molasses (HS 1703).

Notification No. 01/2024-Customs Dated 15/01/2024

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

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 18^th of January, 2024.

[F. No. CBIC-190354/9/2024-TO(TRU-I)]

(Amreeta Titus)

Deputy Secretary