Customs duty tariff rate changes as per Indian Budget 2017-18
Central Excise Duty changes as per Indian Budget 2017-18
Service Tax rate tariff Changes under Indian Budget 2017-18
(Updating soon after Budget 2017-18 on 1st February,2017 with text format and pdf format)
The information provided here is part of Export Import Training online
Update on 29th February 2016, Budget 2016-17 changes in customs import duty tariff,excise duty and service tax
Indian Union Budget 2016-2017, changes in import customs tax tariff, chapter wise
Indian Budget 2016-17, Excise duty tariff changes, chapter wise
Changes in Service Tax as per Budget 2016-17
Indian Union Budget 2015-16, CENVAT rate
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As per Indian Budget 2015-16, the following Excise CENVAT changes have been declared.
Please find below the extract of government notification:
“1) Education Cess levied on all excisable goods as a duty of excise under section 91 read with section 93 of the Finance Act, 2004 is being fully exempted. In this regard, notification No.14/2015-Central Excise dated 1st March, 2015 refers Notification No.14 of 2015-Central Excise, dt. 01-03-2015.pdf. Similarly, Secondary & Higher Education Cess leviable on excisable goods as a duty of excise under section 136 read with 138 of the Finance Act, 2007 is also being fully exempted. In this regard, notification No.15/2015-Central Excise dated 1st March, 2015 refers. Notification No.15 of 2015-Central Excise, dt. 01-03-2015.pdf
2) Simultaneously, the standard ad valorem rate of duty of excise (i.e. CENVAT) is being increased from 12% to 12.5%. Specific rates of Basic Excise Duty on petrol, diesel, cement, cigarettes & other tobacco products (other than biris) are also being suitably changed. In this regard, the First Schedule to the Central Excise Tariff Act, 1985 as amended by Clause 104 of the Finance Bill, 2015 refers. These changes will come into force with immediate effect owing to a declaration under the Provisional Collection of Taxes Act, 1931. Also, see S.Nos.42, 43, 45, 50, 51, 52, 53, 90, 107, 205A, 244, 273, 278, 279, 281, 285, 286, 287, 288 and 289 of notification No.12/2012-Central Excise, dated 17th March, 2012 Notification No.12 of 2012-Central Excise, dated 17th March, 2012.pdfas amended by notification No.12/2015-Central Excise dated 1st March, 2015 refers. Central excise Notification No. 12 of 2015-CE, dt. 01-03-2015.pdf
3) Other Basic Excise Duty rates (ad valorem as well as specific) with a few exceptions are not being changed.
4) Notifications No.13/2012-Customs Notifications No.13 of 2012-Customs dt 17th March, 2012.pdf and No.14/2012-Customs both dated 17th March, 2012 Notifications No 14 of 2012 -Customs both dated 17th March, 2012.pdf exempt Education Cess and Secondary & Higher Education Cess leviable as CVD on imported goods. Since Education Cess and Secondary & Higher Education Cess leviable on excisable goods are being exempted in general, there will be no corresponding levy as CVD on imported goods. Hence, these notifications are being rescinded. In this regard, notification No.9/2015-Customs dated 1st March, 2015 refers. Notification no. 09 of 2015-Central Excise, dt. 01-03-2015.pdf
5) S.No.1A and 1B of notification No.23/2003-Central Excise, dated 31.03.2003 Notification No. 23 of 2003 - Central Excise.pdf exempt the Customs component of Education Cess and Secondary & Higher Education Cess. Since Education Cess and Secondary & Higher Education Cess leviable on excisable goods are being fully exempted, there will be no levy of these Cesses either on CVD while calculating the aggregate of the duties of customs or on excise duty leviable under the proviso to section 3 of the Central Excise Act, 1944. Therefore, the entries S.No.1A and 1B are being omitted.
Also, the entries at S.No.5A, 6 and 7A are being amended so as to substitute the rate of 12% with 12.5%. Notification No.16/2015-Central Excise dated 1st March, 2015 refers. Notification No.16 of 2015-Central Excise, dt. 01-03-2015.pdf
6) Notifications No.28/2010-Central Excise Notification No. 28 of 2010-Central Excise.pdfand No.29/2010-Central Excise, both dated 22nd June, 2010 Notification No. 29 of 2010-Central Excise.pdf exempt the levy of Education Cess and Secondary & Higher Education Cess on the clean energy cess leviable on coal. Since Education Cess and Secondary & Higher Education Cess are being exempted on excisable goods in general, notifications No.28/2010-Central Excise and No.29/2010-Central Excise, both dated 22nd June, 2010 are being rescinded. Notification No.17/2015-Central Excise dated 1st March, 2015 refers. Notification No.17 of 2015-Central Excise, dt. 01-03-2015.pdf
7) The rate of excise duty applicable to goods covered by the Medicinal and Toilet Preparations Act, 1955 is being increased from 12% to 12.5% ad valorem. In this regard, notification No.1/2015-M&TP dated 1st March, 2015 refers. Notification No. 1 of 2015-Central Excise New Delhi, the 1st January, 2015.pdf
8) There is no change in Education Cess leviable on imported goods under section 91 read with section 94 of the Finance Act, 2004 as a duty of customs and Secondary & Higher Education Cess leviable on imported goods under section 136 read with 139 of the Finance Act, 2007 as a duty of customs. These Cesses shall continue to be levied on imported goods.
Chapter 1 to 3: No change.
Chapter 4:
1) Excise duty of 2% without CENVAT credit or 6% with CENVAT credit is being levied on condensed milk [0402 91 10 and 0402 99 20] put up in unit containers. Notification No.1/2011-Central Excise, dated 1st March, 2011 Notification No.1 of 2011-Central Excise, dated 1st March, 2011.pdf as amended by notification No.7/2015-Central Excise dated 1st March, 2015 Notification no.07 of 2015-Cental Excise, dt. 01-03-2015.pdf[new S.No.1A] and notification No.2/2011-Central Excise, dated 1st March, 2011 notification No.2 of 2011-Central Excise, dated 1st March, 2011.pdfas amended by notification No.8/2015-Central Excise dated 1st March, 2015 Notification no.08 of 2015-Central Excise, dt. 01-03-2015.pdf [new S.No.1A] refer. Condensed milk [0402 91 10 and 0402 99 20] is also being notified under section 4A of the Central Excise Act for the purpose of valuation with reference to the Retail Sale Price, with an abatement of 30%. Notification No.49/2008-Central Excise (N.T.), dated 21.12.2008 Notification No.49 of 2008-Central Excise (N.T.), dated 24th December, 2012.pdf as amended by notification No.3/2015-Central Excise (N.T.) dated 1st March, 2015 Notification No.3 of 2015-Central Excise, dt. 01-03-2015.pdf [new S.No.1A] refers. Condensed milk, other than put up in unit containers will continue to be exempt from excise duty. S.No.1 of notification No.12/2012-Central Excise, dated 17th March, 2012, Notification No.12 of 2012-Central Excise, dated 17th March, 2012.pdf as amended by notification No.12/2015-Central Excise dated 1st March, 2015 refers.” Central excise Notification No. 12 of 2015-CE, dt. 01-03-2015.pdf
Click here to read more:
Indian Budget 2015-16, Import Customs Duty Changes, chapter wise
Indian Budget 2015-16, Central Excise Duty Changes, chapter wise
Service Tax Changes as per Indian Union Budget 2015-16
Do you have any comments about the above Excise CENVAT changes as per Budget 2015-16.
The above information is a part of Import Export online Training
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