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of <h1>India Amends Customs Rules: New Duties on Aircraft Parts, Exemptions for RAMA Equipment Until 2026.</h1> The Government of India has issued Notification No. 28/2024-Customs, amending Notification No. 50/2017-Customs to implement recommendations from the 53rd GST Council meeting. Effective from July 15, 2024, the amendments include new entries for customs exemptions. Entry 544A introduces a 5% duty on certain aircraft components imported for maintenance, while entry 613 provides a nil duty for equipment related to the RAMA program until July 31, 2026. Condition 118 outlines requirements for importers to furnish certificates and bonds, ensuring re-export within two years, extendable by one year, with penalties for non-compliance.
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