| Date: |
26-07-2018
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| Notification No: |
Notification No. 55/2018 –Customs
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| Issuing Authority: |
Indian Customs
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| Type: |
Tariff
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| File No: |
F.No.354/255/2018-TRU |
| Subject: |
Seeks to exempt IGST calculated on the assessable value over and above the value (Pool in Price) at which Urea is sold by Department of Fertilizers to Fertilizer Marketing Entities on high sea sale basis.
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GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 55/2018 –Customs
New Delhi, the 26th July, 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 Customs Tariff Act,
1975, (51 of 1975), the Central Government, being satisfied that it is necessary in the public
interest so to do, hereby exempts the Integrated Goods and Services Tax, leviable under subsection
(7) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), as in excess of the
amount calculated over and above the value at which Ministry of Chemical and
Fertilizers/Department of Fertilizers sells urea, falling under tariff item 3102 10 00 of the
First Schedule of the Customs Tariff Act, 1975 (51 of 1975), to Fertilizer Marketing Entities
(FMEs) on high sea sale basis (commonly known as “Pool Issue Price”).
2. This notification shall come into force on the 27th July, 2018.
[F.No.354/255/2018-TRU]
(Gunjan Kumar Verma)
Under Secretary to the Government of India
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