The Ministry of Finance (MoF) on July 26, 2023, issued a notification to amend Notification No. 27/2018- Integrated Tax (Rate), dated December 31, 2018, related to the exemption of integrated tax on the supply of gold by nominated agencies to registered persons.
The following amendment has been stated:
• In the opening paragraph, for the phrase “paragraph 4.41”, the phrase “paragraph 4.40”, shall be substituted, in the Explanation, -
o For clause (a), the following clause shall be substituted, namely: —
“(a) “Foreign Trade Policy” means the Foreign Trade Policy, 2023, notified by the Government of India in the Ministry of Commerce and Industry vide notification No. 1/2023 dated March 31, 2023, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-Section (ii) vide S.O. 1565 (E). dated March 31, 2023;”
o For clause (b), the following clause shall be substituted, namely: —
“(b) “Handbook of Procedures” means the Handbook of Procedure, notified by the Government of India in the Ministry of Commerce and Industry vide Public Notice No. 01/2023 dated April 01, 2023, Extraordinary, Part-I, Section 1 vide F. No. 01/75/171/00016/AM-23/FTP Cell dated April 01, 2023;”
This notification shall come into force on July 27, 2023.
[Notification No. 10/2023-Integrated Tax (Rate)]
