The CBIC Increases AIDC for Importing Platinum and Rhodium

On 03rd October 2022, the Central Board of Indirect Taxes & Customs (CBIC) increased AIDC for Importing Platinum and Rhodium through the exercise of powers as conferred in Section 25, Sub-Section (1) of the Customs Act, 1962 (52 of 1962) to be read with Section 124 of the Finance Act, 2021 (13 of 2021), the Central Government of India considering the benefit of the public’s interest issued amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), Notification No. 11/2021 – Customs, issued on 1st February 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, Subs-Section (i), vide number G.S.R. 69(E). I