Budget 2020-2021, Basic Customs Duty on sugar, sugar confectionery.

Basic Customs Duty on sugar, sugar confectionery to import under Budget 2020-21

 

Basic Customs Tax changes on goods under Chapter 17

The below information provides the details of changes in basic Customs duty as per Indian Union Budget 2020-21 on sugar, sugar confectionery.

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 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.

As per Indian Budget 2020-21, the basic customs duty changes on goods under chapter 17 is shown below.  If no changes on present customs basic duty on products under chapter 17, under Budget 2020-21 the same is mentioned:

 

Vide S. No. 88A of notification No. 50/2017-Customs dated 30th June 2017, a concessional BCD of 25% has been prescribed on raw sugar falling under tariff heading 1701, upto an aggregate of three lakh metric tonnes of total imports of such goods in a financial year. On review, this entry is being omitted vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020.

Vide S. No. 89 of notification No. 50/2017-Customs dated 30th June 2017, concessional BCD of 20% is prescribed on Dextrose Monohydrate falling under tariff heading 1702. On review, this entry is being omitted vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020. Consequently, Dextrose Monohydrate falling under tariff heading 1702 will now attract 30% BCD.

 Vide S. No. 92 of notification No. 50/2017-Customs dated 30th June 2017, concessional BCD of 10% is prescribed on Molasses resulting from refining of sugar, falling under tariff heading 1703. On review, this entry is being omitted vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020. Consequently, Molasses resulting from refining of sugar, falling under tariff heading 1703 will now attract 30% BCD.

 Vide S. No. 93 of notification No. 50/2017-Customs dated 30th June 2017, concessional BCD of 30% is prescribed on chewing gum falling under tariff item 1704 10 00. On review, this entry is being omitted vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020. Consequently, chewing gum falling under tariff item 1704 10 00 will now attract 45% BCD.

Further, chewing gum falling under tariff item 1704 10 00 is being exempted from levy of Social Welfare Surcharge by amending notification No. 11/2018-Customs dated 2nd February, 2018 vide CUSTOMS Notification No 09 of 2020 dated 02nd February, 2020

The above information explains about basic customs duty changes on import of goods under chapter 17,under Indian Union Budget 2020-21.Discuss below your thoughts about customs duty on goods under chapter 17, as per Indian Budget 2020-21

 

 

The above post explains about the clarifications below:

 

What is the customs duty on liquid glucose as per budget 2020-21? Any changes in customs duty on edible cane molasses under Indian Budget 2020-2021.Is there any duty changes of customs on beet sugar cane as per Indian Budget 2020-21? What is the present basic import customs duty on refined sugar cubes under Budget 2020-21 in India?  The rate of import basic customs duty on maple sugar in solid form under Indian Budget 2020-21 Budget 2020-21, what is the basic customs duty on jelly sugar confectionery. Rate of import duty payable on sugar syrups not containing added flavours as per Indian Budget 2020-21. Explain the changes in basic custom duty on toffees including white chocolate under budget 2020-21. Boiled sweets not containing cocoa import duty payables under budget 2020-21.   Basic customs duty declared by Indian Budget 2020-21 on import of extraction of cane molasses. Basic Customs Duty on insulin syrup artificial honey under Indian Budget 2020-2021.  Customs Duty declared on refined sugar cubes containing added flavor for import under Indian Budget 2020-21.  Whether import customs duty on khandsari beet sugar decreased or increased under Indian Budget 2020-21.  Highlights of Indian budget on import customs duty on maple syrup in solid form. Present rate of duty payable to customs on import of chemically pure fructose in solid form in Budget 2020-21.  Import duty changes on khandsari sugar in solid form under Indian Budget 2020-2021. What is the BCD to be paid to customs on import of cane jaggery in solid form under Indian Budget 2020-21.  Glucose syrup in liquid or solid form import duty changes under budget 2020-21.  Indian Budget 2020-21, import duty payable on sugar coated jelly chewing gum. Import duty rate changes on cane jaggery in solid form under Budget 2020-2021. Declaration of customs duty on import of  chemically pure sucrose cane jiggery based on Indian budget 2020-21. What is the budget rate of import duty on toffees not containing cocoa as per Indian Budget 2020-21.


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers