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21(RE-2012)/2009-14, Dated: 11/10/2012

Effect of Notification No. 7 (RE - 2012)/2009-2014 dated 23.7.2012

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-II,
SECTION - 3, SUB-SECTION (II)
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE & INDUSTRY
DEPARTMENT OF COMMERCE
UDYOG BHAWAN
NOTIFICATION NO. 21 (RE – 2012)/2009-2014
NEW DELHI, DATED: 11 October, 2012

Subject: - Effect of Notification No. 7 (RE – 2012)/2009-2014 dated 23.7.2012

S.O. (E) In exercise of powers conferred by Section 5, read along with Section 3(2) of the Foreign Trade (Development and Regulation) Act, 1992, read with paragraph 2.1 of Foreign Trade Policy, 2009-14, the Central Government hereby makes an amendment in the Schedule 1 – Import Policy of the ITC (HS), 2012.
2. The Notification No. 7 (RE – 2012)/2009-2014 issued on 23.7.2012 incorporated the changes in the descriptions of tariff lines in Chapters 24,26,74,75,76,78 and 79 in accordance with the changes in the Finance Bill 2012-13. This notification was silent on the date on which these changes were to take effect. Accordingly, some interpreted the changes to take effect from the date of notification i.e., 23/07/2012 and some others from the date on which Finance Bill 2012 was passed i.e., 17/03/2012. Therefore, this amendment is being made to impart greater clarity.

3. Accordingly, para 10 of the Notification No. 7 (RE – 2012)/2009-2014 dated 23.7.2012 is amended to add the phrase “and will take effect from 17.03.2012 (the date on which the Finance Bill was passed)” after the existing provision. Therefore, the amended para 10 would read as under:

“Amendments carried out in the Budget have been incorporated in the ITC(HS) 2012 and will take effect from 17.03.2012(the date on which the Finance Bill was passed)”.

4. Effect of this Notification:
It is clarified that the Notification No. 7 (RE – 2012)/2009-2014 dated 23.7.2012 takes effect from 17.03.2012

(Anup K. Pujari)
Director General of Foreign Trade
E-mail: dgft@nic.in

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GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .