Syncing of ITC (HS), 2022- Schedule-1 (Import Policy) with Finance Act 2024 (No. 2 of 2024) dated 16.08.2024
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Import policy amendment aligning ITC harmonised system with finance act updates, altering tariff codes and notes with immediate effect.
Amendment of ITC (HS) 2022 Schedule I aligns import policy entries with the Finance Act 2024 by inserting, deleting, splitting, merging and reclassifying specific tariff codes, prescribing item level import policy status and policy conditions; Annexure I enumerates code changes and policy conditions, Annexure II amends item descriptions and Section, Chapter and Supplementary Notes (including definitions for blended aviation turbine fuel, natural menthol, special finishes and e bicycle specifications), and the updated Schedule is made available online with immediate effect.