Customs duty on miscellaneous manufactured articles as per Indian Budget 2020-21

 

Indian Budget 2020-21, BCD on import of miscellaneous manufactured articles

 

Basic Customs duty on import of miscellaneous manufactured articles

Basic Customs Tax changes on goods under Chapter 94

The Customs duty changes declared as per Indian Budget 2020-21 on import of   miscellaneous manufactured articles  is as follows:

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 94is shown below.  If no changes on present customs basic duty on products under chapter 94,under Budget 2020-21the same is mentioned:

 

BCD on seats whether or not convertible into beds, and parts thereof (except aircraft seats and parts thereof), falling under headings 9401, is being increased from 20% to 25%, 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 existing concessional rate/ exemptions on aircraft seats and parts thereof shall continue.

BCD on all goods falling under heading 9403, is being increased from 20% to 25%, 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.

BCD on all goods falling under heading 9404, is being increased from 20% to 25%, 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.

BCD on all goods falling under heading 9405, is being increased from 20% to 25%, 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 94, under Indian Union Budget 2020-21. Discuss below your thoughts about customs duty on goods under chapter 94,  as per Indian Budget 2020-21.

  

 

 

The above post explains about the clarifications below:

 

What is the present basic import customs duty on bamboo under Budget 2020-21 in India?  Explain the changes in basic custom duty on Hospital beds with mechanical fittings under budget 2020-21. Basic Customs duty on import of miscellaneous manufactured articles . Are there any duty changes of customs on seats as per Indian Budget 2020-21? What is the customs duty on medical as per budget 2020-21?  Budget 2020-21, what is the basic customs duty on dental or veterinary. osier import duty  payables under budget 2020-21.   Basic customs duty declared by Indian Budget 2020-21 on import of Cabinet ware. Basic Customs Duty  on cushions under Indian Budget 2020-21.  Customs Duty declared on MATTRESSES for import under Indian Budget 2020-21.  Whether import customs duty on eiderdowns decreased or increased under Indian Budget 2020-21.  Highlights of Indian budget on import customs duty on pouffes.  Declaration of customs duty on import of Sleeping bags based on Indian budget 2020-21. Rate of import duty payable on Wall lamps as per Indian Budget 2020-21.  Hurricane lanterns  import duty changes under budget 2020-21.  What is the budget rate of import duty on Hanging lamps  as per Indian Budget 2020-21. Indian Budget 2020-21, import duty payable on Solar lanterns.  Import duty rate changes on Green houses under Budget 2020-21. Any changes in customs duty on surgical under Indian Budget 2020-21. Import duty changes on lamps under Indian Budget 2020-21. Present rate of duty payable to customs on import of cellular rubber or plastics, in Budget 2020-21. What is the BCD to be paid to customs on import of quilts under Indian Budget 2020-21.  

 


Discussion Forum

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