Finance Bill, 2015 - Changes in Central Excise and Customs duty rates

Customs duty revisions adjust import tariffs and exemptions, with linked excise, CENVAT and service tax modifications affecting specified goods and services.

Revisions adjust customs duties-raising, reducing or exempting basic customs duty on specified commodities and goods, amending export duty for certain iron ore fines, and withdrawing specified additional duty exemptions while preserving basic duty exemptions and government import exceptions. Excise amendments alter deemed capacity and duty parameters for tobacco packing machinery, withdraw select textile and defence-related exemptions, restrict concessional excise treatment for certain computer components to actual users, and extend cess exemptions to DTA clearances from 100% EOUs. CENVAT rules allow specified utilisation of education cesses for basic duty, and a clarification permits simultaneous BCD and CVD concession claims for specified fertilizer inputs. Service tax exemptions are granted for services under certain social insurance and pension schemes.