Respected Sir,
We have Mfg. & Cleared goods '8413.70.10 - Submersible Pump' and '8413.91.20 - Submersible Spares'
As per the tariff notification no. 12/2016 Sl. No. (xvi) adding serial no 235A.
Please suggest from 01-03-2016 rate of duty for '8413.91.20 - Submersible Spares' is 6% or 12.50%
Note: We have cleared '8413.91.20 - Submersible Spares' upto 29-02-2016 at 12.50% rate of duty.
Best Regard,
Chirag Jain
Excise Duty on Submersible Spares at 12.5%, Centrifugal Pump Parts Reduced to 6% Under Notification 12/2016 A query was raised regarding the applicable excise duty rate for submersible spares under tariff notification No. 12/2016. The discussion clarified that the excise duty on specified parts for manufacturing centrifugal pumps was reduced from 12.5% to 6%, applicable under certain conditions. However, this reduction does not apply to submersible pumps, which remain at a 12.5% duty rate. Further clarifications were sought on specific conditions of the notification, which were deemed irrelevant to the query. Another participant inquired about the tariff for centrifugal pumps, confirming the 6% duty rate for 2016. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
