The Central Board of Indirect Taxes and Customs (CBIC) has notified amendments to Notification No. 55/2019-Customs (N.T.) dated August 1, 2019, under the powers conferred by Section 14 of the Customs Act, 1962.
The amendments, effective from August 6, 2019, revise the entries specified under Serial No. 01 of Schedule-II of the notification. The revised provisions replace the existing entries and will be applicable for customs valuation purposes from the effective date.
The notification has been issued by CBIC to update the relevant customs provisions in accordance with the prescribed statutory framework under the Customs Act, 1962.
