Import duty changes for Mineral Fuels,Products of their Distillation, Bituminous Substances, Mineral Waxes, Indian 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)



The information provided here is part of Export import business Course online

 

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

 

 

Learn Exports and Imports free  Click here to read.

 

Import Customs duty changes as per budget 2015-16 under HS code Chapter (ITC) 27 Mineral Fuels,Products of their Distillation; Bituminous Substances; Mineral Waxes

 

As per Indian Budget 2015-16, the following customs import duty changes have been declared under import of Mineral Fuels,Products of their Distillation; Bituminous Substances; Mineral Waxes


Please find below the extract of government notification:

budget4 copy “1) The tariff rate of Basic Customs Duty on Bituminous coal [2701 12 00] is being reduced from 55% to 10%. A suitable amendment has been proposed in the Customs Tariff Act, 1975. Clause 89 of the Finance Bill, 2015 refers. However, the effective rate of Basic Customs Duty on Bituminous coal continues to be 2.5%.

2) Basic Customs Duty on metallurgical coke [2704 00] is being increased from 2.5% to 5%. S.No.125 of 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 1st March, 2015 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

3) Special Additional Duty (SAD) on Naphtha [2710] for use in manufacture of excisable goods is being reduced from 4% to 2%. Notification No.21/2012-Customs, dated 17th March, 2012 as amended by notification No.11/2015-Customs, dated the 1st March, 2015 [new S.No.45A] refers.

4) Basic Customs Duty on liquefied butanes [2711 13 00] is being reduced from 5% to 2.5%. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.10/2015-Customs, dated the 1st March, 2015 [new S.No.142C] refers.

5) Scheduled rate of Additional Duty of Customs levied on imported Motor Spirit [Petrol] and High Speed Diesel Oil [commonly known as Road Cess] is being increased from Rs.2 per litre to Rs.8 per litre. A suitable amendment has been proposed in the Second Schedule to the Finance (No.2) Act, 1998 and Second Schedule to the Finance Act, 1999. Clause 163 and 164 of the Finance Bill, 2015 refer. By virtue of declaration under the Provisional Collection of Taxes Act, 1931, these changes will come into force with immediate effect. However, the effective rate of Additional Duty of Customs levied on imported Motor Spirit [Petrol] and High Speed Diesel Oil [commonly known as Road Cess] is being increased from Rs.2 per litre to Rs.6 per litre. Notification No.6/2015-Customs and notification No.7/2015-Customs both dated the 1st March, 2015 refer.”

 

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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