The Union Finance Minister presented the Union Budget 2023 and proposed the Finance Bill, 2023 in the Lok Sabha on February 1, 2023. An overview of post-budget Customs and Central Excise notifications as well as changes to Customs Laws are listed below.

Legislative amendments in the Customs Act, Customs Tarff Act and Rules made thereunder:

Customs Act, 1962 

• Customs Act, 1962, section 25 has been amended to insert a Proviso to subsection (4A) to provide that the validity of two years shall not apply to exemption notifications issued in relation to multilateral or bilateral trade agreements; obligations under international agreements, treaties, conventions; UN agencies, diplomats, international organizations; privileges of constitutional authorities; schemes under Foreign Trade Policy or other Central Government schemes having a validity of more than two years; re-imports, temporary imports, goods imported as gifts or personal baggage; any duty of customs imposed under any law in force including integrated tax leviable under sub-section 7 of Section 3 of the Customs Tariff Act, 1975, other than under section 12 of the Customs Act, 1962. 

• Customs Act, 1962, section 127C has been amended to insert sub section (8A) to specify a time limit of 9 months from the date of application, for disposal of the application filed before the Settlement Commission.

Customs Tariff Act, 1975

• Customs Tariff Act, 1975, sections 9, 9A, 9C have been amended to remove ambiguity and clarify that determination and review of countervailing duty and anti-dumping duty refers to determination and review in a manner prescribed by rules under the Act. The amendments are being validated retrospectively with effect from January 1, 1995.
• Customs Tariff Act, 1975, sub-sections, 9(6) and 9(7) has been amended to clarify that determination and review for countervailing duty refers to determination and review of countervailing duty in a manner prescribed by rules under the Act.
• Customs Tariff Act, 1975, sub-sections, 9A(5) and 9A(6) has been amended to clarify that determination and review for anti-dumping duty refers to determination and review in a manner prescribed by rules under the Act.
• Customs Tariff Act, 1975, section 9C has been amended to clarify that appeals under this section lie against the determination or review thereof made by an authority in a manner as specified by rules notified under Sections 8 B, 9, 9A and 9B of the Act.