customs duty changes as per budget 2017-18 for products

customs tax Changes for Products Under Indian Budget

 

customs duty changes as per budget 2017-18 for productsMajor changes in Indian Budget 2017-18 is being introduced based on the introduction of GST before September 2017 by redefining Indian Tax system.  The budget is presented along with Railway Budget and after demonetization in country. The customs tax charges for hogs’ hair etc., badger hair etc., waste hair are described below according to Indian Union Budget 2017-18.

 

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


Click here to read government notification on changes of import duty tariff rate under Indian Budget 2017-18, HSN code chapter wise.  

 

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

 

Customs Duty Changes under Indian Budget 2017-18

 

 

  Indirect Taxes

I.             PROPOSALS INVOLVING CHANGE IN DUTY / TAX RATES:

CUSTOMS:

 

   

Commodity

Rate of Duty

   

 

From

To

I.

Incentivizing domestic value addition, ‘Make in India’

A.

Reduction in Customs duty on inputs and raw materials to reduce costs

   

Mineral fuels and Mineral oils

   
 
  1.  

Liquefied Natural Gas

BCD – 5%

BCD – 2.5%

 

 

Chemicals & Petrochemicals

   
 
  1.  

Medium Quality Terephthalic Acid (MTA) & Qualified Terephthalic Acid (QTA)

BCD – 7.5%

BCD – 5%

 

 

Metals

   
 
  1.  

Nickel

BCD – 2.5%

BCD – Nil

 

 

Finished Leather

   
 
  1.  

Vegetable tanning extracts, namely, Wattle extract and Myrobalan fruit extract

BCD – 7.5%

BCD – 2.5%

 

 

Capital Goods

   
 
  1.  

Ball screws, linear motion guides and CNC systems for use in the manufacture of CNC machine tools, subject to actual user condition

Ball screws and liner motion guides

BCD – 7.5%

CNC systems

BCD – 10%

 

 

BCD – 2.5%

 

 

Renewable Energy

   
 
  1.  

All items of machinery required for fuel cell based power generating systems to be set up in the country or for demonstration purposes, subject to certain specified conditions

BCD – 10% /7.5%

 

CVD – 12.5%

BCD – 5%

 

CVD – 6%

 
  1.  

All items of machinery required for balance of systems operating on biogas/ bio-methane/ by-product hydrogen, subject to certain specified conditions

BCD – 10% /7.5%

 

CVD – 12.5%

BCD – 5%

 

CVD – 6%

 

 

Miscellaneous

   
 
  1.  

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

Applicable BCD, CVD

BCD – 5%

CVD – 6%

 
  1.  

All inputs for use in the manufacture of LED Driver and MCPCB for LED lights or fixtures, including LED lamps, subject to actual user condition

Applicable BCD

5%

B.

Changes in Customs and Excise / CV duty to address the problem of duty inversions in certain sectors

 

 

Chemicals & Petrochemicals

   
 
  1.  

o-Xylene

BCD – 2.5%

BCD – Nil

 
  1.  

2-Ethyl Anthraquinone [2914 69 90] for use in manufacture of hydrogen peroxide, subject to actual user condition

BCD – 7.5%

BCD – 2.5%

 
  1.  

Vinyl Polyethylene Glycol (VPEG) for use in manufacture of Poly Carboxylate Ether, subject to actual user condition

BCD – 10%

BCD – 7.5%

 

 

Textiles

   
 
  1.  

Nylon mono filament yarn for use in monofilament long line system for Tuna fishing, subject to certain specified conditions

BCD – 7.5%

BCD – 5%

 

 

Metals

   
 
  1.  

Co-polymer coated MS tapes / stainless steel tapes for manufacture of specified telecommunication grade optical fibres or optical fibre cables, subject to actual user condition

BCD – Nil

BCD – 10%

 
  1.  

MgO coated cold rolled steel coils [7225 19 90] for use in the manufacture of CRGO steel, subject to actual user condition

BCD – 10%

BCD – 5%

 
  1.  

Hot Rolled Coils [7208] for use in the manufacture of welded tubes and pipes falling under heading 7305 or 7306, subject to actual user condition

BCD – 12.5%

BCD – 10%

 

 

Automobiles

   
 
  1.  

Clay 2 Powder (Alumax) for use in ceramic substrate for catalytic convertors, subject to actual user conditon

BCD – 7.5%

BCD – 5%

 

 

Renewable Energy

   
 
  1.  

Solar tempered glass for use in the manufacture of solar cells/panels/modules

BCD – 5%

 

BCD – Nil

 

 
  1.  

Parts/raw materials for use in the manufacture of solar tempered glass for use in solar photovoltaic cells/modules, solar power generating equipment or systems, flat plate solar collector, solar photovoltaic module and panel for water pumping and other applications, subject to actual user condition

CVD – 12.5%

CVD – 6%

 
  1.  

Resin and catalyst for use in the manufacture of cast components for Wind Operated Energy Generators [WOEG], subject to actual user condition

BCD – 7.5%

CVD – 12.5%

SAD – 4%

BCD – 5%

CVD – Nil

SAD – Nil

 

 

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

CVD – 12.5%

CVD – 6%

C.

Changes in Customs duty to provide adequate protection to domestic industry

   

Food Processing

   
 
  1.  

Cashew nut, roasted, salted or roasted and salted

BCD – 30%

BCD – 45%

 

 

Electronics / Hardware

   
 
  1.  

Populated Printed Circuit Boards (PCBs) for use in the manufacture of mobile phones, subject to actual user condition

SAD – Nil

SAD – 2%

   

Miscellaneous

   
 
  1.  

RO membrane element for household type filters

BCD – 7.5%

BCD – 10%

D.

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 computer),

b)  Micro ATM as per standards version 1.5.1,

c)   Finger Print Reader / Scanner, and

d)  Iris Scanner

Applicable BCD, CVD SAD

BCD – Nil

CVD – Nil

SAD – Nil

 
  1.  

Parts and components for manufacture of:

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

b)  micro ATM as per standards version 1.5.1,

c)   Finger Print Reader / Scanner, and

d)  Iris Scanner

Applicable BCD, CVD SAD

BCD – Nil

CVD – Nil

SAD – Nil

II.

Imposition of export duty to conserve domestic resources

 
  1.  

Other aluminium ores, including laterite

Nil

15%

III.

Improving ease of doing business and Export Promotion

 
  1.  

De-minimis customs duties exemption limit for goods imported through parcels, packets and letters

Duty payable not exceeding Rs.100 per consignment

CIF value not exceeding Rs.1000 per consignment

 
  1.  

Limit of duty free import of eligible items for manufacture of leather footwear or synthetic footwear or other leather products for use in the manufacture of said goods for export

3% of FOB value of said goods exported during the preceding financial year

5% of FOB value of said goods exported during the preceding financial year

IV.

Anti-avoidance measure

 
  1.  

Silver medallion, silver coins, having silver content not below 99.9%, semi-manufactured form of silver and articles of silver

CVD – Nil

CVD – 12.5%

 

Note:  (a)  “Basic Customs Duty” means the customs duty levied under the Customs Act, 1962.

              (b)  “CVD” means the Additional Duty of Customs levied under sub-section (1) of section 3 of the Customs Tariff Act, 1975.

              (c)   “SAD” means the Special Additional Duty of Customs levied under sub-section (5) of section 3 of the Customs Tariff Act, 1975.

              (d)  “Export duty” means duty of Customs leviable on goods specified in the Second Schedule to the Customs Tariff Act, 1975.

 

GST rate for hogs’ hair etc., badger hair etc., waste hair also is expected to declare once after introduction of GST this year, before September, 2017.

 

 

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 amend measurements in IGM (Import General Manifest) in India

How to amend number of packages in Import General Manifest (IGM)

How to amend quantity of goods in Import General Manifest (IGM)

How to amend shipper name in Import General Manifest (IGM)

How to amend spelling error in IGM. in India

How to avoid delay in receiving OBL Original Bill of Lading?

How to avoid two import DO charges at destination

Transferability of Bill of Lading

Transhipment - A redefinition

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

Triangular export

Types of Insurance Documents.

What is LC Letter of Credit in export import business

What is legalization of documents by embassy?

What is LET EXPORT order in export trade?

How to book empty container for factory/CFS/ICD/port stuffing

 

Import customs tax for human hair, unworked and waste of human hair in Indian Budget 2017-18

customs duty for import of hogs’ hair etc., badger hair etc., waste hair under Indian Budget

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Comments


pramod: Dear Sir, Is there any ristrication to import Oxygen cylinder in India and advice if any licence or certification / N.O.C required from any Authority for the import of the above.please advise A.S.A.P.

anil kumar: is there any change in the rate of custom duty or additional duty or SAD in this budget 2017-18

Ankita Jajodia : I would like to request you to reply to below mentioned query: 1) In case of import, whether 100 % CVD and 100% SAD paid during 01.07.2016 to 30.06.2017 can be claimed after 01.07.2017 2) Is there any time period to claim the above said duty. 3) How to adjust sales return if made after 01.07.2017 against sales in FY 2016-17.

sunder: CVD CLAIM HELP REQUIRED Dear Sir One of our import client filed b/e in 24th June 2017 Cargo machinery (Capital goods) completed customs formalities on 10th July 2017 with assessed CVD payment paid (No IGST paid) We need help how to get CVD refund Please help us Rgds V.sunderaraj

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