Budget 2020-2021,Basic Customs Duty on plants, roots, cut flowers.

Basic Customs Duty on plants, roots, cut flowers to import under Budget 2020-21

 

Basic Customs Tax changes on goods under Chapter 06

The Customs duty changes declared as per Indian Budget 2020-21 on import of plants, roots, cut flowers is as follows:

 

The Union Budget for financial year 2020-21 presented in the parliament by Union Finance Minister Nirmala Sitharaman on February 1. The Union Budget 2020 will be presented in parliament around 11 am on February 1. Usually the duration to present the Union Budget is 90 to 120 minutes. 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.

 

Vide S. No. 18 of notification No. 50/2017-Customs dated 30th June 2017, concessional BCD of 5% is prescribed on ‘Bulbs, Tubers, etc. or other live plants’ falling under tariff heading 0601 and 0602. On review, this entry is being omitted Wile CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020. Consequently, Bulbs, Tubers, etc. or other live plants falling under tariff heading 0601 and 0602 will now attract 10% BCD.

Further, Bulbs, Tubers, etc. or other live plants falling under tariff heading 0601 and 0602 are being exempted from levy of Social Welfare Surcharge by amending notification No. 11/2018-Customs dated 2″d February, 2018 vide CUSTOMS Notification No 09 of 2020 dated 02nd February, 2020.

 

As per Indian Budget 2020-21, the basic customs duty changes on goods under chapter 06 is shown below.  If no changes on present customs basic duty on products under chapter 06, under Budget 2020-2021 the same is mentioned: 

 The above information explains about basic customs duty changes on import of goods under chapter 06, under Indian Union Budget 2020-21. Discuss below your thoughts about customs duty on goods under chapter 06, as per Indian Budget 2020-21

 

The above post explains about the clarifications below:

 

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