A BIRD'S EYE VIEW ON CHANGES IN CUSTOM LAWS BY FINANCE BILL 2013
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PART A : CHANGES IN DUTY STRUCTURE
[w.e.f. 1-3-2013]
|
Ch. or Tariff Heading |
Product |
Change |
Ref. |
|
8 |
Hazelnuts |
Duty reduced from 30% to 10% |
Notification No. 12/2013-Customs |
|
0802 50 00 |
Pistachios |
Technical change made. New sub-headings would be sub-headings 0802 51 00 and 0802 52 00. |
Notification No. 12/2013-Customs |
|
11 |
De-hulled oat grain |
BCD reduced from 30% to 15% |
Notification No. 12/2013-Customs |
|
1517 90 20 |
Peanut butter |
Technical change to align with HSN. [Sub-heading 1517 90 20 deleted; peanut butter will fall under sub-heading 2008 11] |
Finance Bill, 2013 (Clause 76 read with Third Schedule) |
|
2008 11 |
Peanut butter |
Technical change as above. |
Notification No. 12/2013-Customs |
|
1701 |
Raw sugar, white or refined sugar |
It is included in Second Schedule to the Customs Tariff Act, 1975 (Export Schedule) with a tariff rate of 20%. Exemption is however provided. Thus, raw sugar, white or refined sugar will not attract any export duty. But, in future, exemption may be withdrawn to regulate its export in case of shortage in India. |
[Clause 77 read with Fourth Schedule of the Finance Bill, 2013 and notification No 15/2013-Customs] |
|
23 |
De-oiled rice bran oil cake |
It has been exempted |
Notification No.15/2013-Customs |
|
26 |
Bauxite and ilmenite |
It is being incorporated in the Second Schedule to the Customs Tariff Act, 1975 (Export Schedule) with a tariff rate of 30%. However, the effective duty is being prescribed at 10% on bauxite (2606 0010 and 2606 0020) and unprocessed ilmenite (2614 0010) and at 5% on upgraded ilmenite (2614 00 20). |
[Clause 77 read with Fourth Schedule of the Finance Bill, 2013 and notification No 15/2013-Customs] |
|
27 |
Bituminous coal |
BCD reduced from 5 % to 2 % and CVD from 6 % to 2 %. |
Notification No. 12/2013-Customs |
|
27 |
Steam coal |
BCD raised from Nil to 2% and CVD from 1% to 2%. |
Notification No. 12/2013-Customs |
|
50 |
Raw silk |
BCD on raw silk is increased from 5% to 15%. |
Notification No. 12/2013-Customs |
|
53 |
Coir Yarn |
Technical correction. Product continued to be exempt. |
Notification No 15/2013-Customs |
|
71 |
Pre-forms of precious and semi-precious stones |
Basic customs duty reduced from 10% to 2% |
Notification No 12/2013-Customs |
|
71 |
Export cut & polished diamonds (each of 0.25 carat or more) |
Present : Under Foreign Trade Policy (paragraph 4A.2.2), an exporter with annual export turnover of Rs. 5 crore for each of the last three years is allowed to export cut & polished diamonds (each of 0.25 carat or more) abroad to any of the designated laboratories/agencies with re-import facility at zero duty within 3 months from the date of export. In this regard, a variance not exceeding +_1mm in height and circumference and not exceeding +_1 cent in weight is allowed between exported and re-imported cut and polished diamonds. Change : This limit is being revised in respect of height and circumference from +_1 mm to +_0.01 mm. The variation in respect of weight shall remain unchanged. |
Notification No. 11/2013-Customs |
|
72 |
Flat rolled products of iron or non-alloy steel, plated or coated with zinc (sub-headings 7210 30 10, 7210 30 90, 7210 41 00, 7210 49 00, 7212 20 10, 7212 20 90, 7212 30 10 and 7212 30 90) |
Restrospective exemption from export duty w.r.e.f. 1-3-2011. Prior thereto, it was exempt from export duty under notification No. 77/2008-Customs. |
Clauses 75 and 77 of the Finance Bill, 2013 |
|
7314 14 10 |
Stainless Steel Wire Cloth Stripe for manufacture of catalytic convertors and their parts |
Concessional BCD of 5% would be applicable |
Notification No 12/2013-Customs |
|
3824 90 90 |
Wash Coat for manufacture of catalytic convertors and their parts |
Concessional BCD of 5% would be applicable |
Notification No 12/2013-Customs |
|
84 |
20 specified machinery for use in the leather industry or footwear industry |
BCD reduced from 7.5% to 5%. |
Notification No 12/2013-Customs |
|
84 |
Textile machinery and parts thereo |
BCD reduced from 7.5% to 5%. |
Notification No 12/2013-Customs |
|
85 |
Integrated Decoder Receiver, also known as Set Top Box |
BCD increased from 5% to 10% |
Notification No 12/2013-Customs |
|
85 |
LCD and LED TV Panels of 19" and above |
These are already exempt. It is clarified that LCD and LED TV Panels and LCD and LED TV Modules are one and the same thing for the purpose of exemption under this notification |
Notification No 12/2013-Customs |
|
85 |
Goods required for manufacture of Solar cells and solar modules |
All goods including chemicals and electronic parts required for the manufacture of solar cells whether or not assembled in modules or panels are exempted by way of clarification. |
Notification No 12/2013-Customs |
|
87 |
Identified parts of hybrid and electric vehicles |
Validity period of exemption extended by two more years up to 31st March, 2015. |
Notification No 12/2013-Customs |
|
87 |
Lithium ion automotive battery for manufacture of lithium ion battery packs for supply to the manufacturers of hybrid and electric vehicles |
They have been exempted from BCD |
Notification No 12/2013-Customs |
|
87 |
Cars and other motor vehicles, new |
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