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

EXCISE

Memorandum Explaining the Provisions in The Finance Bill, 2016 - Bill - Note: Basic Duty means the duty set forth in the First Schedule to the Central Tariff Act, 1985. AMENDMENTS IN THE CENTRAL ACT, 1944: S. No. Amendment Clause of the Finance Bill, 2016 1. Section 5A 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. [139] 2. Section 11A is being amended so as to increase the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

under heading 3401 and 3402; Aluminium foils of a thickness not exceeding 0.2 mm; Wrist wearable devices (commonly known as smart watches ); and Accessories of motor vehicle and certain other specified goods. Changes at (b) above will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931. [142(ii)] [142(i)] AMENDMENTS IN THE FIRST SCHEDULE TO THE CENTRAL TARIFF ACT, 1985 S. No. Amendment Clause of the Finance Bill, 2016 Amendments not affecting .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

uncut in place of tariff line 5801 37 11 [with description Warp pile fabrics epingle uncut velvet] and 5801 37 19 [with description Warp pile fabrics epingle uncut other]; c) Prescribe separate tariff lines for laboratory created or laboratory grown or manmade or cultured or synthetic diamonds; d) Delete Tariff line 8525 50 50, relating to Wireless microphone. [143(i)] From To Amendments involving change in the rate of duty Aerated Beverages 1 Waters, including mineral waters and aerated waters, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nd, whichever is higher 12.5% or Rs.3755 per thousand, whichever is higher 6 Others of tobacco substitutes 12.5% or Rs.3375 per thousand, whichever is higher 12.5% or Rs.3755 per thousand, whichever is higher 7 Gutkha, chewing tobacco (including filter khaini) and jarda scented tobacco 70% 81% 8 Unmanufactured tobacco 55% 64% 9 Paper rolled biris [whether handmade or machine made] and other biris [other than handmade biris] However, the effective rate of basic duty of ₹ 21 per thousand sha .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ich are registered under FCO, 1985 12.5% 6% 3 Physical mixture of fertilizers manufactured by Co-operative Societies, holding certificate of manufacture for mixture of fertilizers under the Fertiliser Control Order 1985, made out of chemical fertilizers on which duty of has been paid and no credit of duty paid on such chemical fertilizers has been taken under rule 3 of the CENVAT Credit Rules, 2004 and which are intended for supply to the members of such Co-operative Societies 1% [without CENVAT .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

without CENVAT credit] or 6% [with CENVAT credit] 2% [without CENVAT credit] or 12.5% [with CENVAT credit] Footwear 7 Rubber sheets & resin rubber sheets for soles and heels 12.5% 6% 8 Increase the abatement from retail sale price (RSP) for the purposes of duty assessment for all categories of footwear 25% 30% Metals 9 To change duty structure on disposable containers made of aluminium foils. 2% [without CENVAT credit] or 6% [with CENVAT credit] 2% [without CENVAT credit] or 12.5% [with CENV .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

er is being withdrawn. 8% 8.5% 12 Articles of Jewellery [excluding silver jewellery, other than studded with diamonds or other precious stones namely, ruby, emerald and sapphire] with a higher threshold exemption upto ₹ 6 crore in a year and eligibility limit of ₹ 12 crore, along with simplified compliance procedure. Nil 1% [without CENVAT credit] or 12.5% [with CENVAT credit] Renewable Energy 13 Unsaturated Polyester Resin (polyester based infusion resin and hand layup resin), Harde .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

processing of municipal solid waste for not less than ten years from the date of commissioning of project as an alternative to the condition of production of valid power purchase agreement between the importer/producer of power and the purchaser, for the sale and purchase of electricity generated using non-conventional materials for availing concessional customs/ duty benefits in case of power generation project based on municipal and urban waste - Civil Aviation 17 Aviation Turbine Fuel [ATF] o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nd overhaul of aircraft based on records - 20 To remove the restriction of one year for utilization of duty free parts for maintenance, repair and overhaul of aircraft - Electronics & IT hardware 21 Charger / adapter, battery and wired headsets / speakers for supply to mobile phone manufacturers as original equipment manufacturer Nil 2% [without CENVAT credit] or 12.5% [with CENVAT credit] 22 Inputs, parts and components, subparts for manufacture of charger / adapter, battery and wired heads .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

to internet, set top boxes for TV, digital video recorder (DVR) / network video recorder (NVR), CCTV camera / IP camera, lithium ion battery [other than those for mobile handsets] 12.5% Nil Machinery 25 Electric motor, shafts, sleeve, chamber, impeller, washer required for the manufacture of centrifugal pump 12.5% 6% Automobiles 26 Specified parts of Electric Vehicles and Hybrid Vehicles 6% Upto 31.03.2016 6% Without time limit 27 Engine for xEV (hybrid electric vehicle) 12.5% 6% Miscellaneous .....

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