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Statutory Provisions

Home Acts & Rules Bill Bills FINANCE BILL, 2011 Chapters List Statements - Notes - Memorandum This

Notes - Notes on clauses - Customs Tariff - FINANCE BILL, 2011

FINANCE BILL, 2011
Statements - Notes - Memorandum
  • Contents

Clause 55 of the Bill seeks to amend section 3 of the Customs Tariff Act so as to substitute with effect from 1st March, 2011, the reference to the Standards of Weights and Measures Act, 1976 by a reference to the Legal Metrology Act, 2009 as the former Act has been repealed by the latter.

Clause 56 of the Bill seeks to amend section 9AA of the Customs Tariff Act so as to confer power upon  the Central Government to reduce the anti-dumping duty imposed under the provisions of sub-section (1) of section 9A of the Customs Tariff Act on an article where the  importer of such article proves to the satisfaction of the Central Government that he has paid anti-dumping duty in excess of his actual margin of dumping determined in relation to the article.

Clause 57 of the Bill seeks to amend the First Schedule and the Second Schedule to the Customs Tariff Act. Item (i) of sub-clause (a) of said clause 57  seeks to amend the First Schedule in the manner provided in the Fourth Schedule so as to substitute the description against the  heading 9804 to cover all  dutiable articles, intended for personal use, imported by post or air and to prescribe a rate of 35 per cent. against tariff items 9804 10 00 and 9804 90 00 of Chapter 98.

Item (ii) of sub-clause (a) of said clause 57 seeks to amend the First Schedule in the manner specified in the Fifth Schedule so as to incorporate the amendments approved by the Customs Co-operation Council (World Customs Organisation) in the legal text of the International Convention on the Harmonised Commodity Description and Harmonised Coding System to align the said Schedule with the Harmonised System of Nomenclature with effect from 1st day of January, 2012.

Sub-clause (b) of said clause 57 seeks to substitute the Second Schedule to the Customs Tariff Act in the manner specified in the Sixth Schedule to align it with the Harmonised System of Nomenclature.

It is proposed to give reference of Chapter, heading, sub-heading and tariff item in the proposed new Second Schedule and to insert,—

(a) a new entry relating to de-oiled rice bran oil cake with a rate of duty of fifteen per cent., and

(b) to provide for enhanced tariff rate in respect of  iron ore (Agglomerated and Non-Agglomerated) of thirty per cent.

Clause 58 of the Bill seeks to make special provision for imposing safeguard duty on caustic soda lye retrospectively for the period from 4th December, 2009 up to the period of 3rd March, 2010 (both days inclusive) as specified in Seventh Schdeule.

Government of India in the Ministry of Finance (Department of Revenue) vide notification No. 131/2009-Customs [G.S.R. 861 (E)], dated the 4th December, 2009, imposed provisional sefeguard duty on import of Caustic Soda Lye. The Director-General (Safeguard) in its final finding published vide number G.S.R. 306 (E), dated the 9th April, 2010 came to the conclusion that increased imports of Caustic Soda Lye into India has threatened to cause further serious injuries to the domestic producers and recommended the imposition of safeguard duty on imports of Caustic Soda Lye into India. Sub-clause (1) proposes to impose final safeguard duty at the rate of fifteen per cent. ad valorem, with retrospective effect for the period from 4th December, 2009 to 3rd March, 2010 (both days inclusive) as per the details given in the Seventh Schedule. 

 
 
 
 

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