BCD on Animal origin products, as per Indian Budget 2020-21

Indian Budget 2020-2021, Import BCD on Animal origin products

 

 

 

Basic Customs Tax changes on goods under Chapter 05

The below information provides the details of changes in basic Customs duty as per Indian Union Budget 2020-21 on Animal origin products.

 

The Union Finance Minister Nirmala Sitharaman presented Union Budget 2020 in Parliament around 11 am on February 1. . Till 2016, the Union Budget was presented on the last working day of February. Former finance minister Arun Jaitley changed the tradition in 2017 when he presented the Budget on February 1. Ahead of the Union Budget, an Economic Survey is presented by the Chief Economic Advisor.

 

Customs Tariff Act changes on Animal origin products under Chapter 05 given below

 

Vide S. No. 10 of notification No. 50/2017-Customs dated 30th June 2017, concessional BCD of 5% is prescribed on Pancreas falling under Chapter 5 [Products of animal origin, not elsewhere specified or included]. On review, this entry is being omitted vide notification No. 1/2020-Customs dated 2m February, 2020. Consequently, Pancreas falling under Chapter 5 will now attract 30% BCD.

 Vide S. No. 11 of notification No. 50/2017-Customs dated 30th June 2017, concessional BCD of 5% is prescribed on Conch Shell falling under sub-heading 0508 00. On review, this entry is being omitted vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020. Consequently, Conch Shell falling under sub-heading 0508 00 will now attract 30% BCD.

 

As per Indian Budget 2020-21, the basic customs duty changes on goods under chapter 05 is shown below.  If no changes on present customs basic duty on products under chapter 05, under Budget 2020-2021 the same is mentioned:

 

The above information explains about basic customs duty changes on import of goods under chapter 05,under Indian Union Budget 2020-21.

Discuss below your thoughts about customs duty on goods under chapter 05, as per Indian Budget 2020-2021

 

 

 

The above post explains about the clarifications below:

 

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