Increase of Customs duty on iron and steel and articles of iron or steel, Indian Budget 2015-16


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The information provided here is part of Import Export online Training

Import duty changes under Harmonized Tariff System code  Chapter 72 to 73.


Indian Budget 2015-16, Click here to read Import customs Duty and Excise duty changes.



budget21 copyThe following chapters under HS code have increased  in import duty for iron and steel as per new budget 2015-16:

Learn Exports and Imports free  Click here to read.

"Tariff rate of Basic Customs Duty on iron and steel (Chapter 72) and articles of iron or steel (Chapter 73) is being increased from 10% to 15%. Clause 89 of the Finance Bill 2015 refers. However the existing effective rate of BCD on these goods are being retained. S.Nos.329A and 334A of notification No.12/2012-Customs, dated 17th March, 2012 Click here to read Notification No.12/2012 Customs, dated 17th March, 2012 as inserted by notification No.10/2015-Customs, dated 1st March, 2015 refer Click here to read notification No.10/2015-Customs, dated 1st March, 2015 - notification No 10 of 2015-Customs, dated 1st March, 2015.pdf. Further, it is clarified that the existing concessional rates of Basic Customs Duty in respect of goods falling under Chapters 72 & 73 under S.Nos. 330, 331, 332, 333 & 334 and other similar entries of notification No.12/2012-Customs dated 17th March, 2012 will continue."


Click below for more details:   

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 wish to comment about the  increase in  import customs duty for  iron and steel under Indian Budget 2015-16.

Learn Exports and Imports free  Click here to read.


The above information is a part of Export Import Training course online


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bhagat: I already dealt with exporter and all terms etc. are agreed. Before I make the payment to import, I need your suggestions since I am not aware import regulations. 1. Die Cast Aluminium Scrap of Auto Engine, ISRI code TENSE, Exim Code 76020010 2. Car Scrap Harness Wires, ISRI code DRUID, Exim Code 74040012 3. Cast Iron Scrap (Rotors and Drums) in-shredded for melting., ISRI code 252-255, HS Code 7204100. I have no idea whether these items are restricted or not. I tried to contact many agents but failed to get convinced answers. I am based at Ahmedabad (Gujarat). Please let me know if you know someone where I can get help.

A K DUBEY: Sir is there any change in customs rate on iron and steels of CH 72.

SREENIVASAN: to know about duty structure and exemption of CTH 73269099 and import from Germany

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