Budget 2020-21, basic Customs Duty on import of Aluminium and Aluminium Articles
Basic Customs Tax changes on products under Chapter 76
The Customs duty changes declared as per Indian Budget 2020-21 on import of Aluminium and Aluminium Articles is as follows:
The Union Budget 2020 presented in the parliament on February 1, 2020, Saturday, by the Union Finance Minister Nirmala Sitharaman. 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. . 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 chapter76 is shown below. If no changes on present customs basic duty on products under chapter 76,under Budget 2020-21 the same is mentioned:
BCD on all goods falling under sub heading 7615 10 [table, kitchen, other household articles etc.] is being increased from 10% to 20% by increasing the tariff rate. [Clause 115 (a) of the Finance Bill, 2020 refers.] By virtue of declaration under the Provisional Collection of Taxes Act, 1931, this increase will come into force with immediate effect.
The above information explains about basic customs duty changes on import of goods under chapter 76 under Indian Union Budget 2020-21. Discuss below your thoughts about customs duty on goods under chapter 76 as per Indian Budget 2020-21.
The above post explains about the clarifications below:
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