Customs Duty changes on Miscellaneous manufactured articles as per Indian Budget 2020-21

Budget 2020-21, basic Customs Duty on import of Miscellaneous manufactured articles

 

 

 

Basic Customs Tax changes on products under Chapter  96

The Customs duty changes declared as per Indian Budget 2020-21 on import of   miscellaneous manufactured 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 chapter 96is shown below.  If no changes on present customs basic duty on products under chapter 96, under Budget 2020-21 the same is mentioned: 

BCD on all goods falling under headings 9603, 9615, 9617 and under tariff item 9604 00 00 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 96, under Indian Union Budget 2020-21. Discuss below your thoughts about customs duty on goods under chapter 96,  as per Indian Budget 2020-21.

 

 

 

 

The above post explains about the clarifications below:

 

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