Reduced Basic customs duty on import under Chapter 94

Indian Budget 2018-19, changes in import basic duty under chapter 94

 

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

 

According to Indian Budget 2018-19,

 

BCD on seats whether or not convertible into beds, and parts thereof (other than aircraft seats and parts thereof), falling under heading 9401 is being increased from 10% to 20% by increasing the tariff rate. [Clause 101(a) of the Finance Bill, 2018 refers]. The existing concessional / exemptions on parts of aircraft seats and parts thereof shall continue.

BCD on all goods falling under heading 9403 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 9404 is being increased from 10% to 20%. [Clause 101(a) of the Finance Bill, 2018 refers].

BCD on all goods (other than solar lantern or solar lamps) falling under chapter heading 9405 is being increased from 10% to 20%. S.No.586A of notification No.50/2017-Customs, dated 30th June, 2017, is being omitted by notification No.6/2018-Customs, dated 2nd February, 2018. Consequently, all goods, except solar lantern or solar lamps falling under heading 9405 will attract 20% tariff rate.

 

The above product changes in import basic customs tax fall under Chapter 94 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

What is ‘Late BL release charges’

 

What is ATA carnet and how ATA carnet works?

What is Bank Guarantee to customs in Import

What is Bond execution with customs in imports and exports

What is Brand Rate in Duty Drawback

What is BVQI inspection on export goods?

What is charter party bill of lading ?

How to import to India from Niger?

How to export from India to Niger?

How to export from India to Malta?

How to claim ITC under imports?

Procedures to claim Drawback after GST implantation

How to claim IGST refund on exports?

Export procedure changes after GST implementation

Factory stuffing procedures after GST implementation

Import of goods attracts IGST but not CVD under GST regime

Import goods attracts IGST and CVD under GST regime

Import Goods attract IGST, CVD and Compensation Cess under GST regime

Safeguard duty and Anti-dumping duty after GST implementation

Section 1 of UTGST Act 2017       

Section 172 of CGST Act, 2017 Removal of difficulties

What is Single Business vertical under GST

What is Sin or De-Merit Goods under GST

What is Show cause notice under GST

 


Discussion Forum

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