Chapterwise details on changes in Customs duty changes under Indian Budget 2019-20
customs tax Changes for Products Under Indian Budget
Major changes in Indian Budget 2017-18 is being introduced based on the introduction of GST before September 2017 by redefining Indian Tax system. The budget is presented along with Railway Budget and after demonetization in country. The customs tax charges for hogs’ hair etc., badger hair etc., waste hair are described below according to Indian Union Budget 2017-18.
No changes in Customs Duty rates as per Indian Budget 2017-18 under this HSN chapter
Click here to read government notification on changes of import duty tariff rate under Indian Budget 2017-18, HSN code chapter wise.
Customs duty tariff rate changes as per Indian Budget 2017-18
Central Excise Duty changes as per Indian Budget 2017-18
Service Tax rate Changes under Indian Budget 2017-18
Customs Duty Changes under Indian Budget 2017-18
Indirect Taxes
I. PROPOSALS INVOLVING CHANGE IN DUTY / TAX RATES:
CUSTOMS:
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Commodity
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Rate of Duty
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From
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To
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I.
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Incentivizing domestic value addition, ‘Make in India’
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A.
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Reduction in Customs duty on inputs and raw materials to reduce costs
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Mineral fuels and Mineral oils
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-
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Liquefied Natural Gas
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BCD – 5%
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BCD – 2.5%
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Chemicals & Petrochemicals
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-
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Medium Quality Terephthalic Acid (MTA) & Qualified Terephthalic Acid (QTA)
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BCD – 7.5%
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BCD – 5%
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Metals
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-
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Nickel
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BCD – 2.5%
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BCD – Nil
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Finished Leather
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-
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Vegetable tanning extracts, namely, Wattle extract and Myrobalan fruit extract
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BCD – 7.5%
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BCD – 2.5%
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Capital Goods
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-
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Ball screws, linear motion guides and CNC systems for use in the manufacture of CNC machine tools, subject to actual user condition
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Ball screws and liner motion guides
BCD – 7.5%
CNC systems
BCD – 10%
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BCD – 2.5%
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Renewable Energy
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-
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All items of machinery required for fuel cell based power generating systems to be set up in the country or for demonstration purposes, subject to certain specified conditions
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BCD – 10% /7.5%
CVD – 12.5%
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BCD – 5%
CVD – 6%
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-
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All items of machinery required for balance of systems operating on biogas/ bio-methane/ by-product hydrogen, subject to certain specified conditions
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BCD – 10% /7.5%
CVD – 12.5%
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BCD – 5%
CVD – 6%
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Miscellaneous
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-
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All parts for use in the manufacture of LED lights or fixtures, including LED lamps, subject to actual user condition
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Applicable BCD, CVD
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BCD – 5%
CVD – 6%
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-
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All inputs for use in the manufacture of LED Driver and MCPCB for LED lights or fixtures, including LED lamps, subject to actual user condition
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Applicable BCD
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5%
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B.
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Changes in Customs and Excise / CV duty to address the problem of duty inversions in certain sectors
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Chemicals & Petrochemicals
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-
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o-Xylene
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BCD – 2.5%
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BCD – Nil
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-
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2-Ethyl Anthraquinone [2914 69 90] for use in manufacture of hydrogen peroxide, subject to actual user condition
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BCD – 7.5%
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BCD – 2.5%
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-
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Vinyl Polyethylene Glycol (VPEG) for use in manufacture of Poly Carboxylate Ether, subject to actual user condition
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BCD – 10%
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BCD – 7.5%
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Textiles
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-
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Nylon mono filament yarn for use in monofilament long line system for Tuna fishing, subject to certain specified conditions
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BCD – 7.5%
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BCD – 5%
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Metals
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-
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Co-polymer coated MS tapes / stainless steel tapes for manufacture of specified telecommunication grade optical fibres or optical fibre cables, subject to actual user condition
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BCD – Nil
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BCD – 10%
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-
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MgO coated cold rolled steel coils [7225 19 90] for use in the manufacture of CRGO steel, subject to actual user condition
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BCD – 10%
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BCD – 5%
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-
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Hot Rolled Coils [7208] for use in the manufacture of welded tubes and pipes falling under heading 7305 or 7306, subject to actual user condition
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BCD – 12.5%
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BCD – 10%
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Automobiles
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-
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Clay 2 Powder (Alumax) for use in ceramic substrate for catalytic convertors, subject to actual user conditon
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BCD – 7.5%
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BCD – 5%
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Renewable Energy
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-
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Solar tempered glass for use in the manufacture of solar cells/panels/modules
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BCD – 5%
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BCD – Nil
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-
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Parts/raw materials for use in the manufacture of solar tempered glass for use in solar photovoltaic cells/modules, solar power generating equipment or systems, flat plate solar collector, solar photovoltaic module and panel for water pumping and other applications, subject to actual user condition
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CVD – 12.5%
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CVD – 6%
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-
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Resin and catalyst for use in the manufacture of cast components for Wind Operated Energy Generators [WOEG], subject to actual user condition
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BCD – 7.5%
CVD – 12.5%
SAD – 4%
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BCD – 5%
CVD – Nil
SAD – Nil
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Miscellaneous
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-
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Membrane Sheet and Tricot / Spacer for use in the manufacture of RO membrane element for household type filters, subject to actual user condition
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CVD – 12.5%
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CVD – 6%
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C.
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Changes in Customs duty to provide adequate protection to domestic industry
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Food Processing
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-
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Cashew nut, roasted, salted or roasted and salted
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BCD – 30%
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BCD – 45%
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Electronics / Hardware
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-
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Populated Printed Circuit Boards (PCBs) for use in the manufacture of mobile phones, subject to actual user condition
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SAD – Nil
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SAD – 2%
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Miscellaneous
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-
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RO membrane element for household type filters
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BCD – 7.5%
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BCD – 10%
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D.
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Promotion of cashless transactions and promote domestic manufacturing of devices used therefor
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-
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a) Miniaturized POS card reader for m-POS (not including mobile phones or tablet computer),
b) Micro ATM as per standards version 1.5.1,
c) Finger Print Reader / Scanner, and
d) Iris Scanner
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Applicable BCD, CVD SAD
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BCD – Nil
CVD – Nil
SAD – Nil
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Parts and components for manufacture of:
a) miniaturized POS card reader for m-POS (not including mobile phones or tablet computer),
b) micro ATM as per standards version 1.5.1,
c) Finger Print Reader / Scanner, and
d) Iris Scanner
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Applicable BCD, CVD SAD
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BCD – Nil
CVD – Nil
SAD – Nil
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II.
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Imposition of export duty to conserve domestic resources
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-
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Other aluminium ores, including laterite
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Nil
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15%
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III.
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Improving ease of doing business and Export Promotion
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-
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De-minimis customs duties exemption limit for goods imported through parcels, packets and letters
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Duty payable not exceeding Rs.100 per consignment
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CIF value not exceeding Rs.1000 per consignment
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-
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Limit of duty free import of eligible items for manufacture of leather footwear or synthetic footwear or other leather products for use in the manufacture of said goods for export
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3% of FOB value of said goods exported during the preceding financial year
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5% of FOB value of said goods exported during the preceding financial year
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IV.
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Anti-avoidance measure
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-
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Silver medallion, silver coins, having silver content not below 99.9%, semi-manufactured form of silver and articles of silver
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CVD – Nil
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CVD – 12.5%
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Note: (a) “Basic Customs Duty” means the customs duty levied under the Customs Act, 1962.
(b) “CVD” means the Additional Duty of Customs levied under sub-section (1) of section 3 of the Customs Tariff Act, 1975.
(c) “SAD” means the Special Additional Duty of Customs levied under sub-section (5) of section 3 of the Customs Tariff Act, 1975.
(d) “Export duty” means duty of Customs leviable on goods specified in the Second Schedule to the Customs Tariff Act, 1975.
GST rate for hogs’ hair etc., badger hair etc., waste hair also is expected to declare once after introduction of GST this year, before September, 2017.
Also read:
Find HSN code of your product
All about GST Registration process in India
How to Export your commodity?
Learn GST easily in simple understanding
How to start an Export Business in India?
How to get Export Order?
Learn Imports and Exports online free
Financial schemes for Exporters in India
How to open Letter of Credit?
Types of Export Containers
How to Import goods to India?
How to amend measurements in IGM (Import General Manifest) in India
How to amend number of packages in Import General Manifest (IGM)
How to amend quantity of goods in Import General Manifest (IGM)
How to amend shipper name in Import General Manifest (IGM)
How to amend spelling error in IGM. in India
How to avoid delay in receiving OBL Original Bill of Lading?
How to avoid two import DO charges at destination
Transferability of Bill of Lading
Transhipment - A redefinition
Travelers to India under import duty exemption, Frequently Asked Questions Part 2
Triangular export
Types of Insurance Documents.
What is LC Letter of Credit in export import business
What is legalization of documents by embassy?
What is LET EXPORT order in export trade?
How to book empty container for factory/CFS/ICD/port stuffing
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