Customs Duty, IGST and Cess leviable on goods re-imported for repairs
The CBIC vide Notification No. 36/2021-Customs, dated July 19, 2021 has issued an amendment in Notification No. 45 in order to notify that Customs Duty, IGST, and Compensation Cess would be leviable on goods exported for repairs abroad and cut, polished precious and semi-precious stones exported for treatment abroad, in the following manner:
- The words ‘Duty of customs’ has been substituted with the words ‘Said duty, tax or cess’
- Further, an Explanation (d) is inserted to clarify that IGST and Compensation Cess would be leviable beside the Customs Duty, and the exemption is only from the amount of tax, cess and duty over and above the amount so calculated.
