India’s government issued Notification No. 56/2018-Customs and thereby, as expected, delayed imposing retaliatory import duties for certain U.S. products until 18 September 2018.
The tariffs were originally scheduled to be effective 4 August 2018.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue) Notification No. 56/2018-Customs
New Delhi, the 3rd August, 2018
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number G.S.R. 785(E), dated the 30th June, 2017, namely:-
In the said notification, with effect from the 4th day of August, 2018 the following proviso shall be inserted after the second proviso, namely:-
“Provided also that the,-
(a) entries against serial number 14A, and
(b) the second proviso,
shall come into effect from the 18th day of September, 2018”
For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact:
John L. McLoughlin
Luis (Lou) Abad
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