The CBIC vide Notification No. 42/2022-Customs dated July 13, 2022 has issued amendments in its earlier issued Notification No. 51/96-Customs dated July 23, 1996 (“Exemption Notification”) which provided exemption to research equipments imported by public funded research institutions or various universities and non-commercial institutions etc., so as to withdraw the exemption of the Integrated Goods and Services Tax (“IGST”) leviable on certain goods specified therein, when imported into India, in a following manner:
- Omitted the words “and from the whole of integrated tax leviable thereon under sub-section (7) of section 3 of the said Customs Tariff Act 1975” from the Exemption Notification.
The Notification can be accessed at: https://taxinformation.cbic.gov.in/view-pdf/1009430/ENG/Notifications
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