The Central Board of Indirect Taxes and Customs (CBIC) amended the List of specified projects under heading 9801 of First Schedule under Customs Tariff Act.
The Board sought to further amend notification No. 42/1996-Customs, dated July 23, 1996 which notifies projects for assessment under heading 9801.
In the said notification, after serial number 42 and the project specified against it, the serial number 43 and the project shall be inserted, namely, “High Speed Rail Projects”.
The government has notified the Project Imports (Amendment) Regulations, 2021.
In the Project Imports Regulations, 1986, in the TABLE, after serial number 3FF and the entries relating thereto, the serial number 3FFF and entries shall be inserted.
The National High Speed Rail Corporation Limited will be the sponsoring authority for the High Speed Rail Projects.
This notification shall come into force on the 2nd February, 2021.
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