Revised Basic Customs Duty & Excise Duty on Chapter 27 in Union Budget 2016-17

[Asked by Guest]

Dear Sir,

Could you please inform the revised Basic Customs Duty ( BCD ) and Excise Duty on Chapter 27 product ?. Previously It was 5% and 14% respectively. (HS Code 27101960 to be precise )

Thanks and Regards,

Atul Deshmukh

[Mukund Thakkar]

Chapter 27:

1) Basic Customs Duty on all goods falling under 2701, 2702 and 2703 is being rationalized at 2.5% BCD. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2016-Customs, dated 1st March, 2016 [New S.Nos.121B, 121C] refer.

2) Basic Customs Duty on all goods falling under 2704, 2705 and 2706 is being rationalized at 5% BCD. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2016-Customs, dated the 1st March, 2016 [New S.No.121D] refers.

3) Basic Customs Duty on all goods falling under 2707 is being rationalized at 2.5% BCD. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2016-Customs, dated the 1st March, 2016 [New S.No.121E] refers.

4) Basic Customs Duty on all goods falling under 2708 is being rationalized at 5% BCD. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2016-Customs, dated the 1st March, 2016 [New S.No.121F] refers Consequently, S. No. 122, 122A, 123, 124, 124A, 125, 126, 126A, 126B and 126C are being omitted.

please refer above changes in budget for custom duty.

Thanks a lot, Mukund Ji.

What is BCD on Chapter 2710 ?

AI Summary

Basic customs duty rationalisation: reduced uniform rates for petroleum and related HS headings under amended customs notifications.
Amendments to Notification No.12/2012-Customs rationalise Basic Customs Duty across Chapter 27: uniform lower BCDs are assigned to the subgroups covering 2701-2703 and 2707, different uniform BCDs to 2704-2706 and 2708, and certain prior schedule serial numbers are omitted; the response references the amended notifications but does not state any revised excise duty.