Budget 2015-16, Import duty changes under HS code Chapter 27, Mineral Fuels, Mineral Oils

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


Central Excise Duty changes as per Indian Budget 2017-18


Service Tax rate tariff Changes under Indian Budget 2017-18

 

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



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,Budget 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

 

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Budget 2015-16, Import duty changes under Chapter 27 Mineral Fuels, Mineral Oils and Products of their Distillation; Bituminous Substances; Mineral Waxes.

 

Import Excise duty changes as per budget 2015-16 under HS code Chapter (ITC) 27

1 copy1) Tariff rate of excise duty on high speed diesel (HSD) falling under tariff item 2710 19 30 is being increased from 14% + Rs.5 per litre to 14% + Rs.15 per litre. However, there is no change in the aggregate of various duties of excise on high speed diesel (HSD). Clause 104 of the Finance Bill, 2015 refers.

2) The Second Schedule to the Finance (No.2) Act, 1998 is being amended so as to increase the Schedule rate of Additional Duty of Excise and Additional Duty of Customs (commonly

known as Road Cess) on Motor Spirit commonly known as Petrol from Rs.2 per litre to Rs.8 per litre. Clause 163 of the Finance Bill, 2015 refers. The Second Schedule to the Finance Act, 1999 is being amended so as to increase the Schedule rate of Additional Duty of Excise and Additional Duty of Customs (commonly known as Road Cess) on High Speed Diesel oil from Rs.2 per litre to Rs.8 per litre.

Clause 164 of the Finance Bill, 2015 refers. Increase in Schedule rate of Additional Duty will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931. However, the effective rates of the Additional Duty of Excise (commonly known as Road Cess) levied on Petrol and High Speed Diesel Oil are being increased from Rs.2 per litre to Rs.6 per litre only. Notification No.6/2015-Customs and No.7/2015-Customs, both dated 1st March, 2015 and notification No.10/2015-Central Excise notification No.10 of 2015-Central Excise, dt. 01-03-2015.pdf and No.11/2015-Central Excise, both dated 1st March, 2015 refer Notification No.11 of 2015-Central Excise, dt. 01-03-2015.pdf  .Simultaneously, the Basic Excise Duty rates on petrol (both branded and unbranded) and diesel (both branded and unbranded) are being reduced by Rs.4 per litre. Further, Education Cess and Secondary and Higher Education Cess, presently applicable to petroleum products, including petrol and High Speed Diesel, are being exempted. On this count, rates of duty of excise (CENVAT) on Petrol and High Speed Diesel Oil (both branded and unbranded) are also being revised. In this regard, S.Nos.70 and 71 of notification No.12/2012-Central Excise dated 17th March, 2012  Notification No.12 of 2012-Central Excise, dated 17th March, 2012.pdf as amended by notification No.12/2015-Central Excise dated 1st March, 2015 refer Central excise Notification No. 12 of 2015-CE, dt. 01-03-2015.pdf . Table below summarizes the changes in various duties applicable to petrol and diesel

3) The Schedule Rate of Clean Energy Cess, levied on coal, lignite and peat, is being increased from Rs.100 per tonne to Rs.300 per tonne. Clause 188 of the Finance Bill, 2015 refers. The increase in rate of Clean Energy Cess will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931. However, the effective rate of Clean Energy Cess is being increased from Rs.100 per tonne to Rs.200 per tonne. Notification No.1/2015-Clean Energy Cess, dated 1st March, 2015 refers.

 

 

Click below for more details: 

Indian Budget 2015-16, Import Customs Duty Changes, chapter wise 


Indian Budget 2015-16, Central Excise Duty Changes, chapter wise

Service Tax Changes as per Indian Union Budget 2015-16 

 

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