The Ministry of Finance (MoF) on July 23, 2024, issued a notification regarding the exemption/concessional rate of BCD and SWS to critical minerals.
The Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description specified in column (3) of the Table below, falling within the chapter or heading or sub-heading or tariff item of the First Schedule of the Customs Tariff Act, 1975 specified in the corresponding entry in column (2) of the said Table, when imported into India, from so much of the duty of customs leviable thereon under the said first schedule as is in excess of the amount calculated at the rate specified in the corresponding entry in column (4) of the said Table and from the whole of the Social Welfare Surcharge leviable thereon under section 110 of the Finance Act.
This notification shall come into force on July 24, 2024.
[Notification No. 36/2024-Customs]
