9911796707
TMI BlogAMENDMENTS TO THE CUSTOMS ACT, 1962X X X X Extracts X X X X X X X X Extracts X X X X ..... th respect to UN agencies, diplomats, international organizations; privileges of constitutional authorities; schemes under Foreign Trade Policy; Central Government schemes having a validity of more than two years; re-imports, temporary imports, goods imported as gifts or personal baggage; any duty of customs under any law for the time being in force including integrated tax leviable under sub-section (7) of Section 3 of the Customs Tariff Act, 1975, other than duty of customs leviable under section 12. [123] 2 A new sub section (8A) to section 127 C is being inserted so as to specify a time limit of 9 months from the date of application, for disposal of the application filed before the Settlement Commission. [124] II. AMENDMENTS TO THE CUSTOMS TARIFF ACT, 1975 S. No. Amendment Clause of the Finance Bill, 2023 A. Retrospective Amendments (w.e.f. 01.01.1995) [125] 1. Sub-section (6) and sub-section (7) of section 9 of the Customs Tariff Act, 1975 is being amended to remove ambiguity and clarify that determination and review for countervailing duty refers to determination and review of countervailing duty in a manner prescribed by rules under the Act. [125] 2. Sub-se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s on certain tariff items as part of rationalization of customs duty rate structure. (iv) The Second Schedule is being amended to align the entries under heading 1202 with that of the First Schedule with effect from 1st May,2023. [clause 127 read with Fifth Schedule of the Finance Bill 2023] AMENDMENTS Tariff Rate Changes A. Increase in Tariff rate (to be effective from 02.02.2023) * [Clause 126(a) ] of the Finance Bill, 2023] *Will come into effect immediately through a declaration under Provisional Collection of Taxes Act,1931 Rate of Duty S. No. Heading, sub-heading tariff item Commodity From To Chemicals 1. 2902 50 00 Styrene 2% 2.5% 2. 2903 21 00 Vinyl Chloride Monomer 2% 2.5% Rubber 3. 4005 Compounded Rubber 10% 25% or Rs. 30 per kg., whichever is lower Gems and Jewellery Sector 4. 7113, 7114 Articles of precious metals 20% 25% 5. 7117 Imitation Jewellery 20% or Rs. 400 per kg., whichever is higher 25% or Rs. 600 per kg., whichever is higher Electrical Goods 6. 8414 60 00 Electric Kitchen Chimney 7.5% 15% Automobiles and Toys 7. 8712 00 10 Bicycles 30% 35% 8. 9503 Toys and parts of toys (other than parts of electronic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. 2102 20 00 Algal Prime (flour) for use in manufacture of aquatic feed 30% 15% 5. 2207 20 00 Denatured ethyl alcohol for use in manufacture of industrial chemicals 5% Nil 6. 2301 20 Fish meal for use in manufacture of aquatic feed 15% 5% 7. 2301 20 Krill meal for use in manufacture of aquatic feed 15% 5% 8. 2309 90 90 Mineral and Vitamin Premixes for use in manufacture of aquatic feed 15% 5% Minerals 9. 2529 22 00 Acid grade fluorspar (containing by weight more than 97% of calcium fluoride) 5% 2.5% Petrochemicals 10. 2710 12 21, 2710 12 22, 2710 12 29 Naphtha 1% 2.5% Gems and Jewellery Sector 11. 7102, 7104 Seeds for use in manufacturing of rough lab-grown diamonds 5% Nil 12. 7106 Silver (including silver plated with gold or platinum), unwrought or in semimanufactured forms, or in powder form 7.5% 10% 13. 7106 Silver Dore 6.1% 10% IT, Electronics 14. 25, 28, 32, 39, 40, 69, 73, 85 Specified chemicals/items for manufacture of Pre-calcined Ferrite Powder 7.5% Nil 15. 3824 99 00 Palladium Tetra Amine Sulphate for manufacture of parts of connectors 7.5% Nil 16. Any Chapter Camera lens and its inputs/parts for use ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Raw materials for use in manufacture of CRGO steel Nil Nil (up to 31.03.2024) 3 527A Lithium-ion cell for use in the manufacture of battery or battery pack of cellular mobile phone 5% 5% (up to 31.03.2024) 4 527B Lithium-ion cell for use in the manufacture of battery or battery pack of electrically operated vehicle (EVs) or hybrid motor vehicle 5% 5% (up to 31.03.2024) 5 168 Specified inputs and sub-parts for use in manufacture of telecommunication grade optical fibre or optical fibre cables Nil Nil (up to 31.03.2025) 6 341 Preform of silica for use in the manufacture of telecommunication grade optical fibres or optical fibre cables 5% 5% (up to 31.03.2025) 7 341A Inputs for manufacture of Preform of silica Nil Nil (up to 31.03.2025) 8 237 Specified inputs for use in the manufacture of EVA sheet or back sheets which are used in the manufacture of solar cell or modules Nil Nil (up to 31.03.2024) 9 340 Solar tempered glass for use in the manufacture of solar cell or solar module Nil Nil (up to 31.03.2024) 10 405, 406 Raw materials and parts for manufacture of wind operated electricity generators, including permanent magnets for manufacture of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, Paper based taggant including M-feature for manufacture of security paper by Security Paper Mill, Hoshangabad and Bank Note Paper Mill India Pvt Ltd, Mysore. 19. 259 Raw materials for manufacture of security fibre and security thread for supply to Security Paper Mill, Hoshangabad and Bank Note Paper Mill India Pvt. Ltd, Mysore for use in manufacture of security paper 20. 260 Goods for the manufacture of orthopaedic implants falling under 902110 21. 261 Alatheon and copper wire 22. 269 Super absorbent polymer for manufacture adult diapers, tampons, sanitary pads etc (9619) 23. 271 Polytetrametylene ether glycol, (PT MEG) for use in manufacture of spandex yarn 24. 276 Ethylene - propylene - non-conjugated diene rubber (EPDM) for manufacture of insulated wires and cables 25. 277A Calendared plastic sheet for manufacturing of Smart Card (8523) S. No. S. No. of Notfn Description 26. 279 Pneumatic tyres of rubber for MRO of aircraft used in scheduled air service 27. 280 Pneumatic tyres of rubber for MRO of aircraft used by training, aeroclub etc. 28. 333 Moulds, tools and dies for manufacture of parts of electronic components/equipment 29. 334 Graph ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 463 Linear Motion Guides for use in the manufacture of CNC Lathes, Machining Centres or all type of CNC machine tools falling under 8456 to 8463 54. 464 CNC Systems for use in the manufacture of CNC Lathes, Machining Centres or all type of CNC machine tools falling under 8456 to 8463 55. 467 Cash dispenser and parts thereof 56. 468 Micro ATM; fingerprint reader/scanner other than for use in manufacturing cellular mobile phones; miniaturized POS card reader for mPOS (other than Mobile phone or Tablet Computer); parts and components for manufacture of the above items 57. 471 All parts for use in the manufacture of LED lights or fixtures including LED lamps 58. 472 All inputs for use in the manufacture of LED driver or MCPCB for LED lights and fixtures or LED lamps 59. 475 Specified goods including scramblers, descramblers, encoders, jammers, network firewall, SMS monitoring system etc 60. 476 Television equipment, cameras and other equipment for taking films, imported by a foreign film unit or television team 61. 477 Photographic, filming, sound recording and radio equipment, raw films, video tapes and sound recording tapes of foreign origin if imported int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of aircraft imported by PSUs under Ministry of Defence 82. 536 Parts, testing equipment, tools and tool-kits for maintenance, repair, and overhauling of aircraft (except unmanned aircraft used as television camera, digital camera or video camera recorder) or its parts 83. 537 All goods of Heading 8802 (except 88026000-spacecraft) 84. 538 Components or parts, including engines, of aircraft of heading 8802 85. 539 (a) Satellites and payloads; (b) Ground equipments brought for testing of (a) 86. 539A Scientific and technical instruments, apparatus etc required for launch vehicles and satellites and payloads 87. 540 Specified goods under heading 8802 imported by scheduled air transporter 88. 542 Specified goods imported by Aero Club, Flying Training Institutes 89. 543 Specified goods imported by non-scheduled air transporter 90. 544 Parts (other than rubber tubes) of aircraft of heading 8802 for operating scheduled air transport/air cargo services S. No. S. No. of Notfn Description 91. 546 Parts (other than rubber tubes) of aircraft of heading 8802 for non- scheduled passenger/charter services, aero club, training purpose etc 92. 548 Barges or pontoo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 611 Archaeological specimens, photographs, plaster casts or antiquities for exhibition for public benefit in a museum managed by ASI or by State Govt. 115. 612 Specified raw material for sports goods Note: Description of entries is indicative. Notification may be referred to for complete description. (b). The BCD exemption for the goods covered under following serial number of the notification no 50/2017-Customs is being extended for a period of five years i.e. upto 31st March 2028. S. No. S. No. of Notfn. Subject 1. 609 Used bonafide personal and household effects of a deceased person B. Review of exemptions prescribed by other notifications: (a). The BCD exemptions for the goods covered under following notifications are being extended for a period of one year i.e. upto 31st March 2024. S. No. Notification No. Subject 1 16-Customs dated 23.1.65 Exemption to goods exported to foreign countries for display in showrooms of Govt of India 2. 80/1970-Customs Exemption to articles supplied free under warranty as replacement for defective ones 3. 46-Customs (1974) Pedagogic material for educational or vocational training courses 4. 248/76-Customs Exemption to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... components for setting up fuel cell based power generation plant. 25. 16/2017-Customs Exemption to specified drugs & medicines supplied free of cost to patients under Patient Assistanceprogram of Pharma Companies 26. 29/2017-Customs Exemption to specimen, models, wall pictures and diagrams for instructional purposes 27. 30/2017-Customs Exemption to motion picture, music, gaming software for use in gaming console printed or recorded on media 28. 32/2017-Customs Exemption to art work created abroad by Indian artist, sculptor, antiques books more than 100 years 29. 37/2017-Customs Imports relating to defence & internal security forces 30. 49/2017-Customs Exemption to special Additional Duty on specified goods of fourth schedule to Central Excise Act 31. 52/2017-Customs Effective rate of Additional duty for goods under Chapter 27 (b). The BCD exemptions for the goods covered under following notifications are being extended for a period of five years i.e. upto 31st March 2028. 1 41/2017-Customs Exemption to import of cups, trophies to be awarded to winning teams in international tournament /world cup to be held in India. 2 33/2017-Customs Exemption to import ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the total effective duty owing to rationalization of basic customs duty rate structure: 1. Silver (HSN 7106), Gold ( HSN 7108) & Imitation Jewellery (HSN 7117). 2. Platinum (HSN 7110) other than rhodium and goods covered under S. Nos. 415(a) and 415A of the Table in notification No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India vide number G.S.R. 785(E), dated the 30th June, 2017. 3. All goods falling under HSN 7113, other than the goods covered under S. Nos. 356, 357 and 364C of the Table in notification No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India vide number G.S.R. 785(E), dated the 30th June, 2017. 4. All goods falling under HSN 7114, other than the goods covered under S. Nos. 356 and 357 of the Table in notification No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India vide number G.S.R. 785(E), dated the 30th June, 2017. 5. Bicycles (HSN 8712 00 10) 6. Motor vehicle including electrically operated vehicles falling under HSN 8703 covered under S. No. 526 (1)(b), 526 (2)(b), 526A(1)(b) and 526A(2)(b) of the Table in Notification No. 50/2017-Customs dated the 30th June ..... X X X X Extracts X X X X X X X X Extracts X X X X
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