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Bill - Memorandum Explaining the Provisions in The Finance Bill, 2017 - Bill - 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 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. in square brackets [ ] indi .....

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include Foreign Post Office and International Courier Terminal in the definition of a Station in clause (13); (c) omit certain words in clause (13) to align with the proposed omission of Section 82; (d) provide that the existing definition of exporter in clause (20) includes the beneficial owner; (e) provide that the existing definition of importer in clause (26) includes the beneficial owner; (f) insert clause (30B) so as to define passenger name record information; (g) define Foreign Post Off .....

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mption is made, where- (i) such excess payment is evident from the bill of entry in the case of self- assessed bill of entry or (ii) the duty actually payable is reflected in the reassessed bill of entry in the case of reassessment. [91] 5. Clause (e) of section 28E is being amended so as to substitute the definition of Authority to mean the Authority for Advance Ruling as constituted under section 245- O of the Income-tax Act, 1961. [92] 6. Section 28F is being amended so as to provide that the .....

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, and Service Tax) to the Authority constituted under section 245-O of the Income-tax Act from the stage at which such proceedings stood as on the date on which the Finance Bill, 2017 receives the assent of the President. [93] 7. Section 28G relating to vacancies not to invalidate proceedings is being omitted. [94] 8. Sub-section (3) of section 28H is being amended so as to increase the application fee for seeking advance ruling from rupees two thousand five hundred to rupees ten thousand on the .....

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proper officer the passenger and crew arrival manifest before arrival in the case of an aircraft or a vessel and upon arrival in the case of a vehicle; and passenger name record information of arriving passengers in such form, containing such particulars, in such manner and within such time as may be prescribed. The section also intends to provide for imposition of a penalty not exceeding fifty thousand rupees as may be prescribed, in the case of delay in delivering the information. [97] 11. A .....

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ithin such time as may be prescribed. The section also intends to provide for a penalty not exceeding fifty thousand rupees as may be prescribed in the case of delay in delivering the information. [98] 12. Sub-section (3) of section 46 is being substituted so as to make it mandatory to file the bill of entry before the end of the next day following the day (excluding holidays) on which the vessel or aircraft or vehicle carrying the goods arrives at a station at which such goods are to be cleared .....

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ted goods entered for warehousing before their removal. [101] 15. Section 69 relating to clearance of warehoused goods for exportation is being amended to align it with the proposed omission of section 82. [102] 16. Section 82 relating to label or declaration accompanying goods to be treated as entry is being omitted. [103] 17. Section 84 is being amended to empower the Board to make regulations to provide for the form and manner in which an entry may be made in respect of goods imported or to b .....

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error apparent on the face of record. [106] 20. Section 157 is being amended so as to empower Board to make regulations for specifying the form, particulars, manner and time of providing the passenger and crew manifest for arrival and departure and passenger name record information and penalty in the case of delay in delivering the information. [107] II. AMENDMENT IN THE TARIFF ACT, 1975 S. No. Amendment Clause of the Finance Bill, 2017 1. Clause (c) of sub-section (3) of section 9 is being subs .....

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rmonize the Tariff with HS Nomenclature. (ii) Create new tariff item 1511 90 30 for Refined bleached deodorised palm stearin to harmonize Tariff in accordance with WCO classification decision. (iii) Substitute tariff items 3823 11 11 to 3823 11 90 and entries relating thereto with tariff item 3823 11 00. (iv) Substitute tariff items 3904 10 10 to 3904 22 90 with tariff items 3904 10 10 to 3904 22 00 in relation to the PVC Resin. [109(b)] 2. To amend Chapter Note (4) of Chapter 98 so as to remove .....

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duty rates will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931. IV. AMENDMENT IN THE SECOND SCHEDULE TO THE TARIFF ACT, 1975 [Clause 110 of the Finance Bill, 2017] S. No. Amendment Amendments affecting rates of Export duty Rate of Duty From To Ores and concentrates 1. Other aluminium ores and concentrates Nil 30% The above amendment involving increase in the duty rate will come into effect immediately owing to a declaration under the Provi .....

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(QTA) BCD - 7.5% BCD - 5% 5. 2-Ethyl Anthraquinone [29146990] for use in manufacture of hydrogen peroxide, subject to actual user condition BCD - 7.5% BCD - 2.5% 6. Clay 2 Powder (Alumax) for use in ceramic substrate for catalytic convertors, subject to actual user condition BCD - 7.5% BCD - 5% 7. Vinyl Polyethylene Glycol (VPEG) for use in manufacture of Poly Carboxylate Ether, subject to actual user condition BCD - 10% BCD - 7.5% D. Textiles 8. Nylon mono filament yarn for use in monofilament .....

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financial year 5% of FOB value of said goods exported during the preceding financial year F. Metals 11. Co-polymer coated MS tapes/stainless steel tapes for manufacture of telecommunication grade optical fibres or optical fibre cables, subject to actual user condition BCD - Nil BCD - 10% 12. Nickel BCD - 2.5% BCD - Nil 13. MgO coated cold rolled steel coils [7225 19 90] for use in manufacture of CRGO steel, subject to actual user condition BCD - 10% BCD - 5% 14. Hot Rolled Coils [7208], when imp .....

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al user condition SAD - Nil SAD - 2% I. Renewable Energy 17. Solar tempered glass for use in the manufacture of solar cells/panels/modules subject to actual user condition BCD - 5% BCD - Nil 18. Parts/raw materials for 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 CVD - 12.5% CVD .....

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ogas/bio-methane/by-product hydrogen, subject to certain specified conditions BCD - 10%/7.5% CVD - 12.5% BCD - 5% CVD - 6% J. Miscellaneous 22. Membrane Sheet and Tricot/Spacer for use in manufacture of RO membrane element for household type filters, subject to actual user condition CVD - 12.5% CVD - 6% 23. All parts for manufacture of LED lights or fixtures, including LED lamps, subject to actual user condition Applicable BCD, CVD BCD - 5% CVD - 6% 24. All inputs for use in the manufacture of L .....

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