Customs import duty changes under machinery and mechanical appliance, parts, Nuclear reactors, boilers, under Budget 2015-16

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)

 

 

Update on 29th February 2016, 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

 

The information provided here is part of Online export import business guide course

Reduction of Import Customs duty as per budget 2015-16 under HS code Chapter (ITC) 81.

 

As per Indian Budget 2015-16, the following customs import duty changes have been reduced  under import of Nuclear reactors, boilers, machinery and mechanical appliance, parts.

Please find below the extract of government notification:

budget 30 copy“1) Basic Customs Duty on C- Block Compressor [8414 90 11], Crank Shaft [8414 90 11] and Over Load Protector (OLP) & Positive thermal co-efficient [8536 20 90] for use in the manufacture of Refrigerator compressors is being reduced from 7.5% to 5%. Notification No.12/2012-Customs, dated 17th March, 2012 Click here to read Notification No.12/2012 Customs, dated 17th March, 2012 as amended by notification No.10/2015-Customs, dated the 1st March 2015 [new S. Nos. 399A and 399B] refers.Click here to read notification No.10/2015-Customs, dated 1st March, 2015 - notification No 10 of 2015-Customs, dated 1st March, 2015.pdf

2) Basic Customs Duty on specified components [8537 10 00] of CNC Lathe machines and Machining Centres, namely Ball screws [8483 40 00], Linear Motion Guides [8466 93 90] and CNC Systems is being reduced from 7.5% to 2.5%, subject to actual user condition. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.10/2015-Customs, dated the 1st March 2015 [new S. Nos. 406B, 406C and 406D] refers.

3) Basic Customs Duty on ceria zirconia compounds [ 2825 60 20], cerium compounds [2846 10 90] and zeolite [3824 90 90] is being reduced from 7.5% to 5% for use in manufacture of washcoat, which is used in catalytic converters, subject to actual user condition. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.10/2015-Customs, dated the 1st March 2015 [new S. Nos. 371A, 371B and 371C] refers.

4) Parts and components of cash dispenser and automatic bank note dispensers [heading 8473 40] are exempt from Basic Customs Duty. However, since the classification of parts was not mentioned in the relevant notification, there were doubts about the scope of the exemption for parts of cash dispenser and automatic bank note dispensers. As the ‘parts and components of cash dispensers and automatic bank note dispensers’ were specifically included in the

description of goods even though their classification was not, it is clarified that the benefit of exemption from Basic Customs Duty was available to parts and components of cash dispenser and automatic bank note dispensers, in accordance with CBEC circular 9/96-Customs dated 13.2.96 [F.No.528/4/96-Customs (TU)]. Prospectively, the S. No. 408 of the Notification No. 12/2012- Customs dated 17-3-2012 is being amended to include the classification [8473 40] of parts and components of cash dispensers and automatic bank note dispensers. S. No. 408 of Notification No. 12/2012-Cus, as amended vide notification No.10/2015-Customs dated 1st March, 2015 refers.

5) Basic Custom Duty is being exempted on evacuated tubes with three layers of solar selective coating for use in the manufacture of solar water heater and system, subject to actual user condition. Notification No.12/2012-Customs, dated 17th March, 2012 Click here to read Notification No.12/2012 Customs, dated 17th March, 2012 as amended vide notification No.10/2015-Customs, dated 1st March, 2015 [new S.No.399C] refers.Click here to read notification No.10/2015-Customs, dated 1st March, 2015 - notification No 10 of 2015-Customs, dated 1st March, 2015.pdf

6) Basic Custom Duty and CVD are being exempted on parts, components and accessories for use in the manufacture of tablet computer. Also, Basic Custom Duty and CVD are being exempted on sub-parts for use in manufacture of parts, components and accessories of tablet computers. Both BCD and CVD being exempt, vide S. No. 1 of notification No 21/2012-Customs, dated 17-3-2012, the SAD on these goods will also be exempt. These exemptions are subject to actual user condition. Notification No.12/2012-Customs, dated 17th March, 2012 Click here to read Notification No.12/2012 Customs, dated 17th March, 2012 as amended vide notification No.10/2015-Customs, dated 1st March, 2015 [new S.No.407A] refers.”Click here to read notification No.10/2015-Customs, dated 1st March, 2015 - notification No 10 of 2015-Customs, dated 1st March, 2015.pdf

 

The above information is a part of Guide on howtoexport and import



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 

 

Do you wish to comment about the the reduction in  import customs duty for Nuclear reactors, boilers, machinery and mechanical appliance, parts under Indian Budget 2015-16.
 

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Comments


Amit Kumar Jain : Hello I am importer. I want to know about how much change in custom duty on paper cup machine.

Karn Chauhan : I am working as a Research Analyst, majorly tracking the India mobile devices (smartphone, tablet, data card etc.). Indian smartphone market growing rapidly in all sectors from manufacturing to content ecosystem. The smartphone vendors are manufacturing in India but they all still imported the components for mobile phones. I am facing difficulty to find out the import duty of different components. As an import/export expert, Canyou help me this?

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