New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

CUSTOMS

Clause - Bill - Memorandum Explaining the Provisions in The Finance Bill, 2016 - Bill - Clause - Note: (a) Basic Duty means the duty levied under the Act, 1962. (b) CVD means the Additional Duty of levied under sub-section (1) of section 3 of the Tariff Act, 1975. (c) SAD means the Special Additional Duty of levied under sub-section (5) of section 3 of the Tariff Act, 1975. (d) Export duty means duty of leviable on goods specified in the Second Schedule to the Tariff Act, 1975. (e) Clause nos. i .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

would be only record based. [113] 2. Subsection (45) of Section 2 which defines warehousing station is being omitted. [113] 3. Chapter heading of Chapter III is being amended to omit the word warehousing station . [114] 4. Section 9 is being omitted. [115] 5. Section 25 is being amended so as to omit the requirement of publishing and offering for sale any notification issued, by the Directorate of Publicity and Public Relations of CBEC. [116] 6. Sections 28, 47, 51 and 156 are being amended so a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

provide for licensing by the Principal Commissioner or Commissioner, in place of Deputy/Assistant Commissioner, subject to such conditions as may be prescribed. [121], [122] 9. New section 58A is being inserted to provide for a new class of warehouses which require continued physical control and will be licensed for storing goods, as may be specified. [122] 10. New section 58B is being inserted so as to regulate the process of cancellation of licences which is a necessary concomitant of licenci .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

port Oriented Undertakings, Units under Electronic Hardware Technology Parks, Software Technology Parks, Ship Building Yards and other units manufacturing under bond; empower Principal Commissioners and Commissioners to extend the warehousing period upto one year at a time. [125] 14. Section 62 relating to physical control over warehoused goods is being omitted since the conditions for licensing different categories of warehouses and exercising control over the same are being provided under sect .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

for supervision of manufacturing facilities under Bond; and empower Principal Commissioner or Commissioner of to licence such facilities. [128] 18. Section 68 is being amended to omit rent and other charges on account of omission of section 63. [129] 19. Section 69 is being amended to omit rent and other charges on account of omission of section 63. [130] 20. Section 71 is being amended so as to substitute the word exportation with the word export to align with definition contained in sub secti .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

. Amendment Clause of the Finance Bill, 2016 1. To omit Section 8C [Power of Central Government to impose transitional product specific safeguard duty on imports from People s Republic of China] [137] AMENDMENT IN THE FIRST SCHEDULE TO THE TARIFF ACT, 1975 S. No. Amendment Clause of the Finance Bill, 2016 Amendments not affecting rates of duty 1. Editorial changes in the Harmonized System of Nomenclature (HSN) in certain chapters are being incorporated in the First Schedules, to be effective fro .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e separate tariff lines for laboratory created or laboratory grown or manmade or cultured or synthetic diamonds; 4) Delete Tariff line 8525 50 50, relating to Wireless microphone. [138 (i)] 3 Natural latex rubber made balloons falling under specified headings 10% 20% Metals 4 Primary aluminium 5% 7.5% 5 Zinc alloys 5% 7.5% Jewellery 6 Imitation jewellery 10% 15% Renewable Energy 7 Industrial solar water heater 7.5% 10% Capital goods and parts thereof 8 Increase the tariff rate of BCD for 211 spe .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

centrates 1 Iron ore fines with Fe content below 58% 10% Nil 2 Iron ore lumps with Fe content below 58% 30% Nil 3 Chromium ores and concentrates, all sorts 30% Nil 4 Bauxite (natural), not calcined or calcined 20% 15% Basic Duty Food Processing 1 Cashew nuts in shell Nil 5% 2 Cold chain including pre-cooling unit, packhouses, sorting and grading lines and ripening chambers 10% 5% 3 Refrigerated containers 10% 5% Mineral fuels and Mineral oils 4 Coal; briquettes, ovoids and similar solid fuels ma .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

or partially distilled, including reconstituted tars 10% 5% 10 Oils and other products of the distillation of high temperature coal tar similar products in which the weight of the aromatic constituents exceeds that of the non-aromatic constituents 2.5% / 5% / 10% 2.5% 11 Pitch and pitch coke, obtained from coal tar or from other mineral tars 5% / 10% 5% Petroleum exploration and production 12 Goods required for exploration & production of hydrocarbon activities undertaken under Petroleum Exp .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

6 Electrolysers, membranes and their parts required by caustic soda / potash unit using membrane cell technology 2.5% Nil Paper, Paperboard and newsprint 17 Wood in chips or particles for manufacture of paper, paperboard and news print 5% Nil 18 Plans, drawings and designs Nil 10% Textiles 19 Specified fibres and yarns 5% 2.5% 20 Specified fabrics [for manufacture of textile garments for export] of value equivalent to 1% of FOB value of exports in the preceding financial year subject to the spec .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

achinery, electrical equipment and instrument and parts thereof (except populated PCBs) for semiconductor wafer fabrication / LCD fabrication units Applicable BCD SAD Nil BCD Nil SAD 26 Machinery, electrical equipment and instrument and parts thereof (except populated PCBs) imported for Assembly, Test, Marking and Packaging of semiconductor chips (ATMP) Applicable BCD SAD Nil BCD Nil SAD 27 The exemption from basic duty, CV duty, SAD on charger / adapter, battery and wired headsets / speakers fo .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

VR) / network video recorder (NVR), CCTV camera / IP camera, lithium ion battery [other than those for mobile handsets] Applicable BCD, CVD SAD Nil BCD Nil CVD Nil SAD 30 Magnetic - Heads (all types), Ceramic / Magnetic cartridges and stylus, Antennas, EHT cables, Level meters/level indicators/ tuning indicators/ peak level meters/ battery meter/VC meters / Tape counters, Tone arms, Electron guns Nil BCD Applicable BCD 31 To exclude specified telecommunication equipment [Soft switches and Voice .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ucts on which 10% BCD was imposed in 2014-15 Budget being non-ITA I bound] from the purview of the other exemption. Nil BCD 10% 32 Preform of silica for manufacture of telecom grade optical fibre /cables Nil 10% 33 Specified capital goods and inputs for use in manufacture of Micro fuses, Sub-miniature fuses, Resettable fuses, and Thermal fuses Applicable BCD Nil 34 Neodymium Magnet (before Magnetization) and Magnet Resin (Strontium Ferrite compound/before formed, before magnetization) for manufa .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

and hybrid vehicles BCD-Nil CVD - 6% Upto 31.03.2016 BCD-Nil CVD - 6% Without time limit 44 Aluminium Oxide for use in the manufacture of Wash Coat, which is used in the manufacture of catalytic converters, subject to actual user condition 7.5% 5% 45 Engine for xEV (hybrid electric vehicle) Applicable BCD and CVD Nil BCD 6% CVD Capital Goods 46 Specified machinery required for construction of roads CVD - Nil CVD - 12.5% Defence Production 47 Direct imports of specified goods by Government of Ind .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ion by the Directorate General of Civil Aviation Applicable BCD, CVD and SAD Nil BCD Nil CVD Nil SAD 50 Simplify the procedure for availment of exemption from duties on parts, testing equipment, tools and tool-kits for maintenance, repair and overhaul of aircraft based on records and subject to actual user condition - 51 Remove the restriction of one year for utilization of duty free parts for maintenance, repair and overhaul of aircraft - 52 Further relax the existing conditions of stay [upto 6 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d SAD by ship repair units based on records and subject to actual user condition - Miscellaneous 55 Braille paper 10% Nil 56 Disposable sterilized dialyzer and micro barrier of artificial kidney Applicable BCD, CVD, SAD Nil BCD Nil CVD Nil SAD 57 Solar tempered glass / solar tempered (anti-reflective coated) glass, subject to actual user condition Nil 5% 58 Medical Use Fission Molybdenum-99 imported by Board of Radiation and Isotope Technology (BRIT) for manufacture of radio pharmaceuticals 7.5% .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version