BED and NCCD on pan masala, tobacco products, crude petroleum, mobile phones and motor vehicles
Friday, February 17, 2017     Category : Indian Budget 2016-17

 

Customs duty tariff rate changes as per Indian Budget 2017-18

Central Excise Duty changes as per Indian Budget 2017-18

Service Tax rate Changes under Indian Budget 2017-18

 

(Updating soon after Budget 2017-18 on 1st February,2017 with  text format and pdf format)

 

 

 


BED and NCCD on pan masala, tobacco products, crude petroleum, mobile phones and motor vehiclesBudget 2016-17 changes in customs import duty tariff,excise duty and service tax

Indian Union Budget 2016-2017, changes in import customs tax tariff, chapter wise

Indian Budget 2016-17, Excise duty tariff changes, chapter wise

Changes in Service Tax as per Budget 2016-17


Budget 2016-17 clarification on BED and NCCD on  pan masala, tobacco products, crude petroleum, mobile phones and motor vehicles

 

Indian Union Budget 2016-17 clarifies on BED and NCCD on  pan masala, tobacco products, crude petroleum, mobile phones and motor vehicles as below:


NCCD is presently leviable under section 136 of the Finance Act, 2001 on pan masala, tobacco products, crude petroleum, mobile phones and motor vehicles. Rule 3(1) of the CENVAT Credit Rules provides the duties [which includes BED and NCCD] in respect of which a manufacturer or a service provider is allowed to take input credit. Further, 34 Rule 3(4) of the said Rules provides that the CENVAT credit may be utilized, inter alia, for payment, of any duty of excise. There is, however, one restriction in respect of NCCD. The 5th proviso to rule 3(4) provides that CENVAT credit of any duty except NCCD cannot be utilized for payment of NCCD on goods falling under tariff items 8517 12 10 and 8517 12 90 [mobile phones]. Thus, at present there is no restriction on utilization of credit of basic excise duty for payment of NCCD levied on other goods, namely, pan masala, tobacco products, crude petroleum, and motor vehicles. In this context, for the past period it is clarified that credit of basic excise duty can be utilized for payment of NCCD on all goods, other than those falling under tariff items 8517 12 10 and 8517 12 90 [mobile phones]. However, with effect from 01.03.2016, the 5th proviso to rule 3(4) of the CENVAT Credit Rules, 2004 is being amended so as to provide that CENVAT credit of any duty specified in sub-rule (1) except NCCD cannot be utilized for payment of NCCD leviable under section 136 of the Finance Act, 2001 on any product. Notification No.13/2016- Central Excise (N.T.) dated 01.03.2016 refers.

 

 

Direct imports by Government will attract customs duties

Exemption for disposable sterilized dialyzer and micro barrier of artificial kidney

Excise duty CENVAT is being levied on articles of jewellery under Indian Budget 2016-17

Excise duty CENVAT for readymade garments and made up articles of textiles

Tax changes in sectors of Agriculture, rural economy and environment under Indian Budget 2016-17

Indian Budget 2016-17 Tax proposals for Pensioners

Domestic incentives in addition to Make In India campaign, Indian Budget 2016-17

Nil duty for Braille paper as per Budget 2016-17

Reduces rate of refrigerated containers, Indian Budget 2016-17

Exemption of ST for General Insurance services, Indian Budget 2016-17

Service Tax changes for DUGKY as per Indian Budget 2016-17

Income tax benefits to securitization trusts including trusts of ARCs as per Budget 2016-17

Indian Budget 2016-17, benefits to researchers for patent

Indian Budget 2016-17, benefits to start up companies

Income tax exemptions for small and medium enterprises MSME

To Boost use of refrigerated containers, FM proposed to reduce the basic custom,Indian budget 2016 - 17

Import tax tariff changes for carpet and other floor coverings as per Indian Union Budget 2016-17

Import tariff changes for twine, wadding,cordage, rope and cables under HS code 56 as per new Indian budget

Duty tariff changes for import of man made staple fibers as per latest Indian Budget 2016-17

Government tax tariff changes for import of man made filaments,inclusive of yarn & woven under Indian Budget 2016-17

Import tariff changes for vegetable textile fibres and yarns and woven under HScode 53 as per new Indian budget

Duty tariff changes for import of cotton woven fabric as per latest Indian Budget 2016-17

Import tax tariff changes for wool, animal hair, woven fabric as per Indian Union Budget 2016-17

Import tariff changes for silk, silk yarn, woven fabric under HS code 50 as per new Indian budget

Duty tariff changes for import of newspapers, printed books, manuscripts, pictures as per latest Indian Budget 2016-17

How to export your product?

Click here to know HTS (Harmonized Tariff System) code of your product

What are the risks and solutions in Export Business?  

What is Bank post shipment credit to exporters? 

Types of export containers 

Measurement of export containers 

Export Import Policy of India 2015-20 

MEIS, Merchandise Exports from India Scheme 

SEIS, Service Exports from India Scheme 

Merge your Commercial Invoice and Packing List for all your future exports 

Export procedures and documentation

What is post shipment credit to exporters?

Bank financial benefits to Exporters

How does Letter of Credit work?

Comments

 

Discussion Forum


You can also share your thoughts about this article.
Any one can answer on question posted by Readers



  Your Name - required  
  Email ID will not be published - Required  
   
(Enter above code)  


 

   
Track Your Air Shipment Here 
Track Your Sea Shipment Here 
   
   
   
   
   
 
Most Recent Articles
» CFC for GST, frequently asked questions
» Difference between GSP and GSTP
» Learn GST in regional languages
» Know GST tutorial in Hindi Language
» GST in Telugu with simple language
» Explaining GST in Punjabi with simple language
» Learn GST in Oriya
» Explaining GST in Malayalam with simple language
» Learn GST in Kannada
» Learn GST in Gujarati
  Import  |
  Export  |
  For Beginners  |
  Track Your Shipment  |
  Abbreviations  |
  Inco Terms  |
  Export India  |
  Import India  |
  Import US  |
  Export Import Terms  |
  Export incentives and benefits  |
  FAQ  |
  Bill of Lading  |
  Foreign Trade Policy 2015-20  |
  Start your own Export Import Business  |
  HS code  |
  Indian Budget 2014-15  |
  Banking (India)  |
  India Trade Classification (ITC)  |
  How to Import  |
  Containers  |
  Indian Budget 2015-16  |
  Income Tax  |
  Forms  |
  How to export  |
  Foreign Trade Policy 2014-19  |
  Freight forwarding Terms  |
  Business Terms  |
  Terms in Banking  |
  Shipping Terms  |
  Import Terms  |
  Export Terms  |
  Customs Terms  |
  Excise Terms  |
  International Business Terms  |
  Notifications  |
  GST  |
  SVB  |
  Indian Budget 2016-17  |
  Income Tax  |
  HS Codes  |
  GST Law  |
  GST,FAQ  |
  HSN Codes for GST  |
  SAC for GST  |
  Indian Budget 2017-18  |
  Service Tax 2017  |
  Me  |  Privacy policy  |  Terms and conditions  
Designed and Hosted by Adsin Media