CUSTOMS Notification No 12 of 2018 dt 02nd February, 2018

 

 Seeks to exempt specified goods from the of levy of Social Welfare Surcharge in excess of 3%

The extract of CUSTOMS Notification No. 12/2018- CUSTOMS is given below:

Notification No. 12/2018-CUSTOMS

12/2018-Customs dated 2 nd February 2018

 

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

 

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

 

Notification No.12/2018-Customs

 

New Delhi, the 2^nd February, 2018.

 

G.S.R…..(E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs

 

Act, 1962 (52 of 1962) read with clause 108 of the Finance Bill, 2018 ( 4 of 2018), which, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), has the force of law, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts goods of the description specified in column (3) of the Table below and falling within the Chapter, heading or sub-heading or tariff item of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) as specified in column (2) of the said Table, from so much of the Social Welfare Surcharge leviable thereon under the said clause of the Finance Bill, as is in excess of the amount calculated at the rate specified in column (4) of the said Table.

 

Table

 

 

Sl.	Chapter			or	Description of goods	Rate
No.	heading or sub-
	heading			or
	tariff	item		of
	the		First
	Schedule
(1)		(2)			(3)	(4)
1.		2710			Motor spirit commonly known as petrol	3%
2.	2710 19		30		High speed diesel (HSD)	3%
3.		7106			Silver (including silver plated with gold	3%
					or  platinum),  unwrought  or  in  semi-
					manufactured forms, or in powder form
4.		7108			Gold   (including   gold   plated   with	3%
					platinum)   unwrought   or   in   semi-
					manufactured forms, or in powder form
					[F.No. 334/04/2018 -TRU]
						(Ruchi Bisht)