Central Excise Taxes for import of clocks, watches and parts under Indian Budget

Latest Indian budget 2017-18 changes Excise duty for import of clocks, watches and parts

 

 

 

Central Excise Taxes for import of clocks, watches and parts under Indian BudgetIndian Budget 2017-18 is remarkable, as GST is being implemented before September, 2017.  Indian Budget 2017-18 is presented along with Railway Budget.   The details about changes in Central Excise duty for clocks, watches as per Budget 2017-18 is given under:

 

No changes in Customs Duty rates as per Indian Budget 2017-18 under this HSN chapter


Click here to read government notification on changes in Excise tax tariff rate under Indian Budget 2017-18, HSN code chapter wise.  

 

 

EXCISE RATE CHANGES AS PER BUDGET 2017-18   Click here to download in pdf format

 

   

Commodity

Rate of Duty

   

 

From

To

I.

Public Health

A.

Tobacco and Tobacco Products

 
  1.  

Cigar and cheroots

12.5% or Rs.3755 per thousand, whichever is higher

12.5% or Rs.4006 per thousand, whichever is higher

 
  1.  

Cigarillos

12.5% or Rs.3755 per thousand, whichever is higher

12.5% or Rs.4006 per thousand, whichever is higher

 
  1.  

Cigarettes of tobacco substitutes

Rs.3755 per thousand

Rs.4006 per thousand

 
  1.  

Cigarillos of tobacco substitutes

12.5% or Rs.3755 per thousand, whichever is higher

12.5% or Rs.4006 per thousand, whichever is higher

 
  1.  

Others of tobacco substitutes

12.5% or Rs.3755 per thousand, whichever is higher

12.5% or Rs.4006 per thousand, whichever is higher

 
  1.  

Paper rolled biris – handmade

Rs.21 per thousand

Rs.28 per thousand

 
  1.  

Paper rolled biris – machine made

Rs.21 per thousand

Rs.78 per thousand

II.

Incentivizing domestic value addition, ‘Make in India’

A.

Renewable Energy

 
  1.  

All items of machinery required for balance of systems operating on biogas/ bio-methane/ by-product hydrogen

12.5%

6%

B.

Miscellaneous

 
  1.  

Membrane Sheet and Tricot/Spacer for use in the manufacture of RO membrane element for household type filters, subject to actual user condition

12.5%

6%

 
  1.  

All parts for use in the manufacture of LED lights or fixtures, including LED lamps, subject to actual user condition

Applicable duty

6%

 
  1.  
    1. Waste and scrap of precious metals or metals clad with precious metals arising in course of manufacture of goods failing in Chapter 71
    2. Strips, wires, sheets, plates and foils of silver
    3. Articles of silver jewellery, other than those studded with diamond, ruby, emerald or sapphire
    4. Silver coin of purity 99.9% and above, bearing a brand name when manufactured from silver on which appropriate duty of customs or excise has been paid
 

 

 

 

Nil

Nil, subject to the condition that no credit of duty paid on inputs or input services or capital goods has been availed by manufacturer of such goods

III.

Promotion of cashless transactions and promote domestic manufacturing of devices used therefor

 
  1.  

a)        Miniaturized POS card reader for m-POS (not including mobile phones or tablet computers),

b)       micro ATM as per standards version 1.5.1,

c)        Finger Print Reader / Scanner, and

d)       Iris Scanner

Applicable duty

Nil

 
  1.  

Parts and components for manufacture of:

a)        Miniaturized POS card reader for m-POS (not including mobile phones or tablet computers),

b)       Micro ATM as per standards version 1.5.1,

c)        Finger Print Reader / Scanner, and

d)       Iris Scanner

Applicable duty

Nil

 

Note:    “Basic Excise Duty” means the excise duty set forth in the First Schedule to the Central Excise Tariff Act, 1985.

 

 

CHANGES IN RATE OF ADDITIONAL DUTY LEVIED UNDER SECTION 85 OF THE FINANCE ACT, 2005

 

   

Commodity

Rate of duty

   

 

From

To

A.

Pan Masala

 
  1.  

Pan Masala

6%

9%

B.

Tobacco and Tobacco Products

 
  1.  

Unmanufactured tobacco

4.2%

8.3%

 
  1.  

Non-filter Cigarettes of length not exceeding 65mm

Rs.215 per thousand

Rs.311 per thousand

 
  1.  

Non-filter Cigarettes of length exceeding 65mm but not exceeding 70mm

Rs.370 per thousand

Rs.541 per thousand

 
  1.  

Filter Cigarettes of length not exceeding 65mm

Rs.215 per thousand

Rs.311 per thousand

 
  1.  

Filter Cigarettes of length exceeding 65mm but not exceeding 70mm

Rs.260 per thousand

Rs.386 per thousand

 
  1.  

Filter Cigarettes of length exceeding 70mm but not exceeding 75mm

Rs.370 per thousand

Rs.541 per thousand

 
  1.  

Other Cigarettes

Rs.560 per thousand

Rs.811 per thousand

 
  1.  

Chewing tobacco (including filter khaini)

6%

12%

 
  1.  

Jarda scented tobacco

6%

12%

 
  1.  

Pan Masala containing Tobacco (Gutkha)

6%

12%

 

 

GST rate for clocks, watches also is expected to declare once after introduction of GST this year, before September, 2017.

 

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 under text format and pdf format)

Also read:

Find HSN code of your product

All about GST Registration process in India

How to Export your commodity? 

Learn GST easily in simple understanding

How to start an Export Business in India?

How to get Export Order?

Learn Imports and Exports online free

Financial schemes for Exporters in India

How to open Letter of Credit?

Types of Export Containers

How to Import goods to India?

How to overcome Negative thoughts in export business

How to prepare an Export Invoice. Contents of Export commercial Invoice:

How to prepare an Export Packing list. Contents of Export Packing list

How to prepare Purchase order

Transferability of Bill of Lading

Transhipment - A redefinition

Travelers to India under import duty exemption, Frequently Asked Questions Part 2

Triangular export

Triangular shipment

Types of Insurance Documents.

How to protect parties each other in triangular exports

How to re-construct EP copy of shipping bill

How to send export samples to foreign buyer? Tips to send samples to foreign buyer

How to set up an export import firm in India

What is VACIS exam in US import customs clearance

 

Excise duty for clock or watch parts in Indian Budget 2017-18

Rate of Excise tax for watch bands, straps and bracelets as per Indian Budget

Central Excise tax charges payable for clock complete, movements & assembled in India under recent Budget

Present Central Excise taxes for watch parts and cases under new India Budget

Is Excise tax applicable for complete clock or watch in India Budget

Excise duty charges for clocks with watch movement, excluding inset panel clock under recent India Budget

Excise tax charges for time switches w clock as per Budget 2017-18

Excise duty to be paid for watch movements, assembled & complete in India as per new Budget 2017-18

Any changes in Central Excise tax for clock cases & cases for other goods under recent Indian Budget

Percentage of Excise tax for time of day recording appear in Indian Budget 2017-18


Discussion Forum

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