Minimized Basic customs duty on import under Chapter 95

 

Indian Budget 2018-19, changes in import basic duty under chapter 95

 

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

According to Indian Budget 2018-19,

 

BCD on all goods falling under heading 9503 (goods falling under tariff item 9503 00 90 is already at 20%) is being increased from 10% to 20% by increasing the tariff rate. [Clause 101(a) of the Finance Bill, 2018 refers]. With this change, all goods falling under heading 9503 will attract BCD of 20% (Balloons falling under this heading already attract 20% BCD). S. No. 284 of notification No.50/2017-Customs, dated 30thJune, 2017, as amended by notification No. 6/2018-Customs, dated 2nd February, 2018 refers

BCD on all goods falling under heading 9504 is being increased from 10% to 20% by increasing the tariff rate. [Clause 101(a) of the Finance Bill, 2018 refers].

BCD on all goods falling under tariff item 9505 90 10 is being increased from 10% to 20% by increasing the tariff rate [goods falling under tariff items 9505 10 00 and 9505 90 90 are already at 20%]. [Clause 101(a) of the Finance Bill, 2018 refers]. With this change, all goods falling under heading 9505 will attract BCD of 20% (Balloons falling under this heading already attract 20% BCD). S. No. 284 of notification No.50/2017-Customs, dated 30th June, 2017, as amended by notification No.6/2018-Customs, dated 2nd February, 2018 refers.

BCD on all goods falling under heading 9506 is being increased from 10% to 20% by increasing the tariff rate. [Clause 101(a) of the Finance Bill, 2018 refers]. However, effective rate of BCD on articles and equipment for general physical exercise, gymnastics or athletics falling under sub-heading 9506 91 is being retained at 10%. Notification No.50/2017-Customs, dated 30th June, 2017, as amended by notification No.6/2018-Customs, dated 2nd February, 2018 [new S. No. 594A refers].

BCD on all goods falling under heading 9507 is being increased from 10% to 20% by increasing the tariff rate. [Clause 101(a) of the Finance Bill, 2018 refers].

BCD on all goods falling under heading 9508 is being increased from 10% to 20% by increasing the tariff rate. [Clause 101(a) of the Finance Bill, 2018 refers].

 

The above product changes in import basic customs tax fall under Chapter 95 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.  

 

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