OLP and PTCR for manufacture of refrigerator compressor exemption clarification
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 under text format and pdf format)



OLP and PTCR for manufacture of refrigerator compressor exemption clarificationBudget 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 clarification on OLP and PTCR for manufacture of refrigerator compressor exemption

 

Indian Budget 2016-2017 explains:

S.No. 399B of notification No. 12/2012-Customs prescribes 5% concessional BCD was prescribed on Over Load Protector (OLP) and positive thermal coefficient relays for use in the manufacture of refrigerator compressor. Classification mentioned in this entry is 8536 20 90. As Positive Thermal Coefficient (relays) are classified under 8536 49 00, trade has represented that concessional BCD was being denied on them. In this context, it is clarified that since Positive Thermal Coefficient (relays) were specifically covered by description in the said S. No. 399B of notification no. 12/2012-customs dated 17.03.2012, and therefore be eligible for the exemption for the past period. Prospectively, tariff item 8536 49 00 is being included in aforesaid S. No. 399B. [S.No. 399B of notification No. 12/2012-Customs as amended by Notification No. 12/2016-Customs refers]

 

 

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