In line with India’s commitments under the India–EFTA Trade and Economic Partnership Agreement (TEPA), particularly with Iceland, the Central Government has notified amendments to the customs duty structure on specified goods.
The changes have been notified vide CBIC’s Notification No. 53/2025–Customs dated 30th December, 2025, issued under sub-section (1) of Section 25 of the Customs Act, 1962, amending Notification No. 43/2025–Customs dated 30th September, 2025.
Key Features of the Notification
- The notification substitutes the existing tariff table in the earlier customs notification with a revised table of Basic Customs Duty (BCD) rates.
- The amendments are aimed at operationalising India’s tariff concessions under the India–EFTA framework, with specific relevance to trade with Iceland, a key EFTA partner, particularly in the marine and fisheries sector.
- The revised tariff schedule covers a large number of tariff lines, including:
- Fish and marine products, both fresh and processed
- Live animals and animal products
- Agricultural and horticultural produce
- Seeds, plants and related products
- Several tariff lines provide for nil or concessional Basic Customs Duty, facilitating preferential market access for imports originating from EFTA countries, including Iceland.
- Additional Duty of Customs (AIDC) and Health Cess continue to remain nil, unless otherwise specified.
Objective and Impact
The notification is expected to:
- Enhance bilateral trade and economic engagement between India and Iceland under the EFTA framework,
- Support India’s commitments under the India–EFTA TEPA, particularly in sectors of Iceland’s export strength,
- Provide greater certainty and transparency to trade and industry, and
- Ensure stable and predictable tariff treatment for eligible imports.
The notification has been published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) and comes into force from the date of its publication.
Detailed tariff-wise changes are available in the official notification.
The Notification can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/12/CBIC-India-EFTA-Iceland-No.-53-2025-Customs.pdf
