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TMI BlogBUDGET 2021 RELATED Changes in EDI SystemX X X X Extracts X X X X X X X X Extracts X X X X ..... EDI System - Reg Union Budget 2021-22 announced on 1st February 2021 has introduced some key changes on the Customs front. Changes in the duty structure and introduction of new levies has come into effect from 02-02-2021. All the notifications on rate changes have been duly updated in ICES and System is restored for Bill of Entry filing on 03.02.2021. Kind attention from members of Trade is invit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the calculation for AIDC, sub-clauses (3) and (4) state: "(3) Where the duty is leviable on the goods at any percentage of its value, then, for the purposes of calculating the Agriculture Infrastructure and Development Cess under this section, the value of such goods shall be calculated in the same manner as the value of goods is calculated for the purpose of customs duty under section 14 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ems unless exemption is claimed by relevant notification. For all items falling under the Sl. No. 1 to 16 of the Notification 11/2021 - Customs dated 01.02.2021, the relevant notification and Sl. No. will have to be mentioned by the importer in the Bill of Entry for the applicable effective rate. Even for all other items which are completely exempted from AIDC, relevant Sl. Nos. (17 to 19) must be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment and duty calculation. g) Further it is clarified in Para I (3) of Annexure C of the letter dated 01.02.2021 issued by JS(TRU-1) that SWS would be levied on AIDC. For the exemption mentioned for gold and silver in the same para, Notification 13/2021 - Customs dated 01.02.2021 has been issued exempting SWS calculation on AIDC for all goods falling under CTH 7106 and 7108. Necessary changes ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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