CBIC prescribes effective rate of Basic Customs Duty

Feb 05, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Central Board of Indirect Taxes and Customs (CBIC) on February 02, 2020 amends the Notification No. 50/2017- Customs, dated June 30, 2017 regarding effective rates of customs duty and Integrated Goods and Service Taxes (IGST) for goods imported into India, to prescribe the effective rate of Basic Customs Duty (BCD).

Insertion of entries, namely:

Sl. No.

Chapter or Heading or sub–heading or tariff item

Description of goods

Standard rate

Integrated Goods and Services Tax

Condition No.

3A

0101 21 00

Pure-bred breeding Horses

Nil

-

-

157A

2713 12 10, 2713 12 90

Calcined Petroleum Coke

7.5%

-

-

277A

3920 10 99

Calendared plastic sheet for use in manufacturing of Smart Card falling under heading 8523

5%

-

9

293A

48

Newsprint:

(i)          in strips or rolls of width exceeding 28 cm; or

(ii)        in rectangular (including square) sheets with one side exceeding 28 cm

5%

-

31

293B

48

Uncoated paper of a kind used for printing newspapers, of which not less than 50% by weight of the total fibre content consists of wood fibres obtained by mechanical or chemi-mechanical process, unsized or very lightly sized, having a surface roughness Parker Print Surf (1 Mpa) on each side exceeding 2.5 micro meters (microns), weighing not less than 40 g/m2 and not more than 65 g/m2

5%

-

31

296A

4810

Lightweight coated paper weighing up to 70 g/m2, imported by actual users for printing of magazines

5%

-

9

304A

4907 00 20

Paper Money

Nil

Nil

-

364A

7112

Spent catalyst or ash containing precious metals

11.85%

-

9 and 106

415A

7110

Platinum or Palladium for use in the manufacture of:

(i) all goods, including Noble Metal Compounds and Noble Metal Solutions, falling under heading 2843; (ii) all goods falling under sub-heading 3815 12.

7.5%

-

9

451A

8419 89 10

All goods other than pressure vessels

7.5%

-

-

489B

8518

The following goods for use in the manufacturing of Microphones falling under tariff item 8518 10 00, namely: - (i) Microphone Cartridge; (ii) Microphone Holder; (iii)Microphone Grill; (iv)Microphone Bod

Nil

-

9

Certain Serial Numbers are also got omitted and substituted.

[Notification No. 01/2020-Customs]

 


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