Key points of Amendments to Customs Tariff Act w.r.t. Online Gaming
➡️ 1. The Central Government, under the authority of the Customs Tariff Act, 1975, is making further amendments to the First Schedule of the Act.
➡️ 2. In Chapter 22:
✔️ A new Supplementary Note is added, defining “Spirits for industrial use” as rectified spirits for non-alcoholic industrial purposes.
✔️ A new tariff item 2207 10 12 is introduced for “Spirits for industrial use” with a duty rate of 150%.
➡️ 3. In Chapter 98:
✔️The Chapter heading is revised to include various categories like project imports, laboratory chemicals, passengers’ baggage, personal importations, ship stores, and actionable claims.
✔️ A new Note 8 defines “Online money gaming” and “specified actionable claim” according to the Central Goods and Service Tax Act, 2017.
➡️ 4. Under heading 9807, various tariff items for different types of “actionable claims” are introduced, each with a Nil duty rate.
➡️ 5. These amendments are set to take effect from October 1, 2023.
✔️ Notification No. 72/2023 – Customs (N.T) dated September 30, 2023
