The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification 64/2022, implementing the second tranche of tariff concessions under the India-Australia Economic Cooperation and Trade Agreement (ECTA). This notification outlines the specific tariff reductions agreed upon in the bilateral trade agreement.
These tariff concessions could impact import duties on various goods traded between India and Australia. Importers and exporters dealing with Australian goods should review the notification to understand which tariff lines are affected. The changes might influence the cost structure and competitiveness of certain products, affecting sectors like agro products, textiles, and general trade.
1) Open the official notice here
2) Check whether your CTH, documents or policy line is touched
3) Ask Neo's CHA before changing Bill of Entry or Shipping Bill practice