Minimized Basic customs duty on import under Chapter 73

Indian Budget 2018-19, changes in import basic duty under chapter 73

 

Customs Duty Changes under new Budget 2019-20, click here

 

According to Indian Budget 2018-19,

 

BCD on screws of cellular mobile phone falling under tariff item 7318 15 00 is being increased from 10% to 15%, by omitting S.No.2 of notification No.57/2017-Customs, dated 30th June, 2017, vide notification No.22/2018-Customs, dated 2nd February, 2018. Consequently, screw for of cellular mobile phone falling under tariff item 7318 15 00 will attract BCD at tariff rate of 15%, without any actual user condition.

BCD on SIM socket/ Other Mechanical items (Metal) of cellular mobile phone falling under tariff item 7326 90 99 is being increased from 10% to 15%, by omitting S.No.3 of notification No.57/2017-Customs, dated 30th June, 2017, vide notification No. 22/2018-Customs, dated 2nd February, 2018. Consequently, SIM socket/ Other Mechanical items (Metal) of cellular mobile phone falling under tariff item 7326 90 99 will attract at tariff rate of 15%, without any actual user condition.

 

The above product changes in import basic customs tax fall under Chapter 73 of HS code.

 

The BCD rate tariff changes under this HS chapter may or may not change either before or at the time of next Indian Budget 2019-20.  

 

 

Learn Exports Imports Free, Click here

Click here to know GST rate of your goods or service

How does a Running bond work?

 

 How does Bill of Lading work in DP payment terms?

How does Bill of Lading work in Sight LC

How does CENVAT Credit work?

Why need Certificate of Origin

 Why prefer exports?

How to import to India from Kiribati?

How to export from India to Kiribati?

How to export from Iceland?

Advantages of GST registration in India

Who has to obtain GST registration in India?

Does GST registration number of my firm change time to time in India?

 Is GST registration required for a public sector undertaking?

 Is amendment of GST registration allowed in India?

 Cancellation of GST registration in India

Centralized GST registration of services permitted in India?

 Retired from business ownership. Fresh GST registration in India?

 GST Registration for Job workers in India

GST registration mechanism in India

Pre-registration of credit card necessary for GST payment in India

Is GST Registration required for a Job worker in India?

What is Integrated Tax under GST

Meaning of term Inspection and Search under GST

Seized Goods under GST

Meaning of term Inspection memo under CGST, IGST Act.


Discussion Forum

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