Budget 2020-21, Basic Customs Duty on plastics and articles

Basic Customs Duty on plastics and articles to import under Budget 2020-21

 

Basic Customs Tax changes on goods under Chapter 39

The Customs duty changes declared as per Indian Budget 2020-21 on import of   PLASTICS and  ARTICLES is as follows:

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.

 

As per Indian Budget 2020-21, the basic customs duty changes on goods under chapter 39 is shown below.  If no changes on present customs basic duty on products under chapter 39 under Budget 2020-21, the same is mentioned:

S. No. 262 of notification No. 50/2017-Customs dated 30th June, 2017 is being amended vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020 to omit heading 3903 from the exclusion clause. Accordingly, goods falling under tariff heading 3903 will attract a rate of 7.5% under this entry. Consequently, S. No. 266 of notification No. 50/2017-Customs dated 30th June, 2017 is being omitted, as it is subsumed in S. No. 262.

S. Nos. 263 and 264 of notification No. 50/2017-Customs dated 30th June, 2017 prescribe 7.5% BCD on goods falling under heading 3901 and 3902 respectively. Further, S. No 262 of the said notification provides 7.5% BCD for all goods under heading 3901 and 3902. Therefore, S. Nos. 263 and 264 of the said notification are being omitted vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020, as these entries are redundant.

Vide S. No. 274 of notification No. 50/2017-Customs dated 30th June, 2017, exemption from BCD is provided to compostable polymer or bio-plastic used in the manufacture of bio degradable agro mulching films, nursery plantation pots and flower pots, falling under tariff item 3913 90 90. On review, this entry is being omitted vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020. Consequently, these goods will attract 7.5% BCD.

Vide S. No. 275 of notification No. 50/2017-Customs dated 30th June, 2017, concessional BCD rate of 7.5% is prescribed for water blocking tape for use in the manufacture of insulated wires and cables falling under heading 8544 (except sub-heading 8544 11), falling under tariff item 3919 90 90. On review, entry at S. No 275 is being omitted vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020.

Vide S. No. 278 of notification No. 50/2017-Customs dated 30th June, 2017, exemption from BCD is provided to subbed polyester base, imported by M/s Hindustan Photo Films Manufacturing Company Limited, Udhagamandalam for the manufacture of medical or industrial X-ray films and graphic art films, falling under tariff heading 3920. On review, the said entry is being omitted vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020.

Poly Ester Liquid Crystal Polymers [ LCP] falling under tariff item 3907 99 90 for use in manufacture of Connectors, is being exempted from BCD subject to actual user condition. Notification No. 25/1999-Customs, dated 28th February, 1999, as amended vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020.

BCD on Calendared Plastics Sheet falling under tariff item 3920 10 99 for use in the manufacture of Smart Cards, is being decreased from 10% to 5% subject to actual user condition. Notification No. 50/2017-Customs, dated 30th June, 2017, as amended vide CUSTOMS Notification No 01 of 2020 dated 02nd February, 2020.

The above information explains about basic customs duty changes on import of goods under chapter 39 under Indian Union Budget 2020-21. Discuss below your thoughts about customs duty on goods under chapter 39 as per Indian Budget 2020-21

 

 

The above post explains about the clarifications below:

 

 

 

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