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August 25, 2026
Show AI Summary
Sugar import authorisation and anti-hoarding controls aim to moderate ex-mill prices amid adequate domestic stocks.
Raw sugar imports were permitted, while stock limits were imposed on bulk consumers. States were directed to strengthen inspections, and nationwide flying squads were deployed to identify hoarding and speculative conduct. These measures target sugar availability and distribution across wholesale and retail channels. Ex-mill prices declined following the measures, although wholesale and retail prices had not yet reflected the reduction.
August 25, 2026
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Foreign-currency swap window closure focuses non-resident deposit mobilisation, while ECB hedging support continues for public-sector borrowers.
RBI's concessional Foreign Currency Non-Resident Bank deposit swap window closes on August 31, replacing the previous September 30 cut-off. Separately, the special US dollar-rupee foreign-exchange swap window remains available until December 31, 2026, providing concessional currency-hedging support to public sector undertakings raising external commercial borrowings. SBI expects to mobilise predominantly through deposits from non-resident Indians and foreign investors, with external commercial borrowings also visible.
August 25, 2026
Show AI Summary
Industrial power tariff revision applies only within the shared distribution area, while steel producers seek rollback and fuel supply support.
Industrial electricity tariff revision is proposed from 1 September for 33 KV and 11 KV consumers within the Damodar Valley Corporation command area. The increase is confined to the shared distribution-licence area, while a separate and higher tariff structure applies outside it. Steel and sponge-iron industry associations oppose the revision on the basis that it will raise energy costs and affect investment conditions. They seek withdrawal of the increase and request continuing supplies of high-grade coal and iron ore for sponge-iron production.
August 25, 2026
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Institutional capital facilitation prioritises repatriation, market access, regulatory predictability, and cross-border partnerships supporting technology-led long-term investment.
India-Japan investment engagement focuses on increasing long-term Japanese institutional capital flows through an enabling business environment, intellectual property protection, policy reforms and integration with global value chains. Facilitation measures include simpler profit repatriation processes, improved access to Indian capital markets, greater regulatory predictability and a seamless cross-border investment environment. GIFT City is explored as a gateway for international capital and Japan-India investment flows.
August 25, 2026
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Strategic investment partnership prioritises semiconductor manufacturing, resilient supply chains and advanced industrial collaboration between Indian and Japanese businesses.
India-Japan economic cooperation is directed toward deeper trade, investment, technology and business-to-business linkages, including economic security, supply-chain resilience, clean energy and innovation. Collaboration is focused on capital goods, machinery, automotive and advanced manufacturing, with stronger connections between Japanese enterprises and India's Tier-II and Tier-III suppliers, including Micro, Small and Medium Enterprises. Semiconductor manufacturing is identified as a significant investment area. The India-Japan Special Strategic and Global Partnership supports expanded engagement with manufacturing ecosystems, global value chains and resilient supply chains.
August 25, 2026
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Bilateral trade and investment cooperation advances through customs alignment, digital payment integration, market access discussions and investment treaty completion.
India-Cambodia trade and investment cooperation addressed trade diversification, market access, customs alignment, digital payments and investment facilitation. Discussions covered traditional medicine, e-governance, recognition of the Indian pharmacopeia, trade statistics, agricultural cooperation, banking and insurance. The parties agreed on an MoU on Customs Cooperation to promote uniform customs procedures and considered early completion and signature of the Bilateral Investment Treaty. UPI-KHQR payment integration, investment promotion, priority-sector cooperation and a private-sector feedback mechanism were also discussed.
August 25, 2026
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Voluntary pharmaceutical export compliance framework promotes legitimate trade while safeguarding controlled substances through information sharing and coordinated capacity building.
The Memorandum of Understanding creates a cooperative framework for legitimate pharmaceutical exports and safeguards against diversion of narcotic drugs, psychotropic substances and controlled precursors. A voluntary, non-binding code of conduct will recommend industry practices without imposing obligations beyond applicable law. Cooperation includes identifying export bottlenecks, streamlining procedures for compliant exporters, capacity-building programmes, lawful and confidential information sharing, and nomination of company contact persons to coordinate voluntary compliance measures.
August 25, 2026
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USD-INR forex swap facility accelerates foreign-currency mobilisation through non-resident deposits and institutional borrowing, strengthening India's external buffers.
USD-INR forex swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings enabled banks to access foreign-currency funding through a special swap window. FCNR(B) deposits formed the principal component of the reported foreign-exchange inflows, reflecting participation by non-resident Indians. The FCNR(B) window was scheduled for early closure after the stated mobilisation objective was achieved ahead of schedule, and the inflows were presented as strengthening external buffers through long-term non-resident deposits and institutional funding.
August 25, 2026
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Foreign-exchange intervention moderated rupee depreciation as crude prices, importer dollar demand and geopolitical uncertainty sustained currency-market pressure.
Foreign-exchange conditions reflected a marginal weakening of the rupee against the US dollar, influenced by elevated crude-oil prices, importer demand for dollars, weaker Asian equities and geopolitical uncertainty. The currency remained within a narrow trading band, with RBI dollar sales described as moderating sharper depreciation. The RBI's special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised substantial foreign-exchange inflows, indicating support from non-resident Indian participants.
August 24, 2026
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Prior government sanction for public servants is contested as essential before money-laundering proceedings may validly proceed for official-duty acts.
Prior prosecution sanction is asserted to be a jurisdictional precondition for money-laundering proceedings against a public servant for acts connected with official duty. A former police officer challenges cognizance and process for want of sanction under the criminal procedure framework and the Maharashtra Police Act, relying on sanctions subsequently granted for co-accused public servants. The allegations concern collection of funds through the officer and their alleged laundering through an educational trust.
August 24, 2026
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Rupee exchange-rate movement gained marginal support from foreign equity inflows despite crude oil, importer demand and geopolitical pressures.
Rupee exchange-rate movement against the US dollar reflected a marginal appreciation, supported by foreign fund inflows into domestic equities. Trading remained within a narrow range amid pressures from higher crude oil prices, continuing importer demand, and geopolitical concerns. Market conditions also included a stronger dollar index, lower Brent crude futures, domestic equity declines, and net foreign institutional investment. Elevated oil prices and geopolitical uncertainty indicated a slight negative bias, while possible US dollar weakness could support the rupee.
August 24, 2026
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Retaliatory trade measures may target electricity, critical minerals and integrated automotive supply chains amid escalating cross-border tariff disputes.
Canada-United States trade relations involve escalating tariffs and contemplated reciprocal restrictions affecting goods, automotive production, electricity exports and critical-mineral supplies. Potential Canadian countermeasures include limiting or increasing the price of Ontario electricity exports and restricting supplies of critical minerals, with oil and potash also identified as possible leverage. The automotive sector faces particular exposure because Ontario production and supply chains are integrated with United States manufacturing. Negotiations also raised concern over limits on Canada's ability to conclude trade agreements with other countries without United States approval.
August 24, 2026
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Mandatory biometric updates for students support continued Aadhaar authentication and access to education, scholarship and benefit-related services.
Mandatory Biometric Update camps have been launched in schools across Tamulpur district, Assam, for eligible students aged 5 to 17 years to update Aadhaar biometrics. Aadhaar biometrics require updating on attaining five years of age and again on attaining fifteen years. Timely updating supports continued Aadhaar authentication and helps avoid difficulties in accessing services where authentication is applicable, including school admissions, entrance-examination registration, scholarships and Direct Benefit Transfer schemes.
August 24, 2026
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Electricity tariff affordability requires immediate review, withdrawal of higher consumer charges, and relief measures for economically weaker households.
Electricity tariff increase in Jammu and Kashmir has been opposed as imposing an unjustified and unaffordable financial burden on domestic consumers amid rising household costs. Immediate review and withdrawal of the increase are sought, together with measures to reduce electricity costs for domestic consumers, particularly economically weaker sections, and ensure affordable, reliable power supply.
August 24, 2026
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Wheat export liberalisation replaces prohibitions to support farm prices while domestic stocks are expected to protect consumer supply.
Wheat and wheat-product exports are liberalised with immediate effect by revising their export policy from prohibited to free. The change covers wheat, wheat flour, maida, semolina and wholemeal atta, replacing the earlier export-ban framework and simplifying exports previously permitted through licences. The measure aims to support farmers amid depressed domestic prices, while adequate domestic availability and buffer stocks are expected to meet demand and moderate consumer prices.
August 24, 2026
Show AI Summary
Food safety compliance failures trigger licence suspensions for deficient hygiene, storage, refrigeration, sanitation and valid licensing practices.
Food safety enforcement measures resulted in suspension of food licences or registrations where establishments failed hygiene, food handling, storage, refrigeration, sanitation and licensing requirements. Deficiencies included unsafe temperature control, unclean refrigeration equipment, improper food storage and thawing, inadequate sanitisation, deteriorated or expired materials, deficient oil-quality checks, artificial colouring, pest infestation, cross-contamination risks and inadequate drainage. One outlet was also found to be operating under the name of an establishment without a valid food licence, resulting in suspension of its registration certificate.
August 24, 2026
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Central Board Governance expands through appointments of part-time non-official directors for defined terms, alongside central bank and government representatives.
Appointments to the Reserve Bank of India's Central Board expand its part-time, non-official director membership. Syed Akbaruddin, Annie George Mathew and Janmejaya Kumar Sinha have been appointed for four years from 24 August 2026, or until further orders, whichever occurs earlier. The Central Board also includes the Governor, deputy governors, the economic affairs secretary and the financial services secretary.
August 24, 2026
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Electricity tariff adjustment is linked to inflation and transmission losses, while free household units remain separately implemented.
Electricity tariff increase of 6.83 per cent after four years is presented as necessary in light of inflation and rising costs. Reducing transmission and distribution losses is identified as a means of limiting future tariff increases. Provision of 200 units of free electricity for poor and needy households through solar panels under the Muft Bijli Yojana is treated as distinct from tariff revisions.
August 24, 2026
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Sugar supply management measures target speculative stockpiling through imports, stockholding limits and earlier crushing to moderate prices.
Sugar supply is characterised as adequate, and higher prices are attributed principally to speculative buying and advance stockpiling, alongside lower output, seasonal demand and global price pressures rather than an actual shortage. Duty-free raw sugar imports and stockholding limits are intended to augment availability, curb speculative accumulation and stabilise market sentiment. Imports, existing stocks, special crushing and an earlier crushing season are expected to moderate prices and improve festive-period supply. Ethanol diversion is not identified as a cause of the price movement.
August 24, 2026
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Wheat export policy shifts to free trade, lifting restrictions on wheat flour, maida, semolina and wholemeal atta exports.
Wheat export policy has been revised from prohibited to free with immediate effect, lifting the export ban on wheat and related wheat products. The liberalised export treatment extends to wheat flour, maida, semolina and wholemeal atta. The restriction had been imposed to address rising domestic prices, and its removal is expected to improve international wheat availability.

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Customs, DGFT & SEZ

CUSTOMS - Changes in Rate of Duty and Baggage Rules

February 28, 2013

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Chapter 1 to 7: No change

Chapter 8

8.1       The basic customs duty (BCD) on hazel nuts is being reduced from 30% to 10%. Notification No.12/2012-Customs, dated    1st March,    2012 as amended by notification No. 12/2013-Customs, dated 1st March, 2013 refers. S. No. 23A contains the changes.

8.2       In notification No 12/2012-Customs, at S. No. 24 of the Table, sub-heading 0802 50 00 (Pistachios) is being replaced by sub-headings 0802 51 00 and 0802 52 00. This is a technical rectification.

Chapter 9 to 10: No change

Chapter 11

11.1     The BCD on de-hulled oat grain is being reduced from 30% to 15%. Notification No.12/2012-Customs, dated 1st March, 2012 as amended by notification No. 12/2013-Customs, dated 1st March, 2013 refers. S. No. 38A contains the changes.

Chapter 12 and 14: No change.

Chapter 15

15.1     Peanut butter is presently classified undersub-heading 1517 90 20 of the Customs Tariff whereas, under the Harmonised System, peanut butter is classified under sub-heading 2008 11. To align our Tariff Schedule with HSN, an amendment has been proposed in the Finance Bill, 2013 (Clause 76 read with Third Schedule) to delete the current sub-heading 1517 90 20 and entries relating thereto from the Tariff. By virtue of this amendment, hereafter, the peanut butter will fall under sub-heading 2008 11, which is the correct classification as per the HSN.

15.2     Presently, peanut butter attracts a concessional BCD of 7.5% under notification No. 12/2012-Customs (S. No 71 of the Table). In view of the amendment referred to above, subheading 1517 90 20 is being deleted from S. No. 71. However, the concessional duty is being continued under notification No. 12/2012-Customs at new S. No. 88A. In the connection, notification No. 12/2013-Customs refers.

Chapter 16: No change

Chapter 17

17.1     Raw sugar, white or refined sugar (1701) has been included in the Second Schedule to the Customs Tariff Act, 1975 (Export Schedule) vide Clause 77 read with Fourth Schedule of the Finance Bill, 2013 with a tariff rate of 20%.   Exemption is however provided under notification No 27/2011-Customs dated 1.3.2011, as amended by notification No 15/2013-Customs, dated the 1st March 2013. Thus, raw sugar, white or refined sugar will not attract any export duty.

Chapter 18-22: No change

Chapter 23

23.1     De-oiled rice bran oil cake is being exempted from export duty. S. No. 12   of notification No. 27/2011-Customs, dated 1st March 2011, as amended by notification No.15/2013-Customs, dated 1st March 2013 refers.

Chapter 24 and 25: No change

Chapter 26

26.1     Bauxite and ilmenite are being incorporated in the Second Schedule to the Customs Tariff Act, 1975(Export Schedule)with a tariff rate of 30%. (Clause 77 read withthe Fourth Schedule to the Finance Bill, 2013). 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). In this connection, notification No. 27/2011-Customs dated the 1st March as amended by notification No.15/2013-Customs, dated 1st March 2013 refers. New S. Nos. 24A, 24B, 24C and 24D contain the changes. By virtue of the Provisional Collection of Taxes Act, 1931, the levies will come into force with immediate effect.

Chapter 27

27.1     The BCD on bituminous coal is being reduced from 5 % to 2 % and CVD from 6 % to 2 %. The BCD on steam coal is being raised from Nil to 2% and CVD from 1% to 2%. Hereafter, both steam coal and bituminous coal will attract a uniform rate of 2% BCD and 2% CVD. Notification No.12/2012-Cus, as amended by notification No. 12/2013-Customs refers. Changes are contained in S. Nos 122 A, 123 and 124 of the Table.

Chapter 28-49: No change.

Chapter 50

50.1     The BCD on raw silk is being increased from 5% to 15%. S. No.276 of notification
No.12/2012-Customs, as amended by notification No.12 /2013-Customs, dated the 1st March
2013 refers.

Chapter 51 and 52: No change

Chapter 53

53.1     Presently, coir yarn (53.08) is mentioned at S. No. 43 of notification No. 27/2011-Customs. In column (4), which is presently blank, the entry Nil is being inserted. This is a technical rectification. In this connection, notification No.15 /2013-Customs, dated the 1st March 2013 refers.

Chapter 54 - 70: No change

Chapter 71

71.1     Basic customs duty is being reduced on pre-forms of precious and semi-precious stones from 10% to 2%. Notification No.12/2012-Customs, dated 1st March, 2012 as amended by notification No.12/2013-Customs, dated     1st March,    2013 refers. S. No.312A contains the changes.

71.2.   Under the 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. In this connection, Explanation 1 of notification No. 9/2012-Customs, dated the 9th March, 2012 refers.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. 9/2012-Customs, dated the 9th March, 2012 as amended by notification No. 11/2013-Customs, dated the 1st March, 2013 may be referred to for details.

Chapter 72

72.1      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) are being exempted from export duty retrospectively from 1st March 2011. In this connection, clauses 75 and 77 of the Finance Bill, 2013 may be referred to for details. The changes will come into force upon enactment of the Finance Bill. In the meanwhile, export duty may not be collected on the afore-cited product. Prior to 1st March 2011, this product was exempt from export duty under notification No. 77/2008-Customs, dated 13th June 2008.

Chapter 73

73.1.   Under notification No 12/2012-Customs (S No. 371), specified goods for manufacture of catalytic convertors and their parts attract a concessional BCD of 5%. Stainless Steel Wire Cloth Stripe (sub-heading 7314 14 10) and Wash Coat (sub-heading 3824 90 90) are being added to the list for availing of concessional duty of 5%.

Chapter 74-83: No change.

Chapter 84

84.1     The BCD on 20 specified machinery for use in the leather industry or footwear industry is being reduced from 7.5% to 5%. Descriptions of certain leather and footwear machinery items are being modified. S No 390 (List 29) of notification No. 12/2012-Cus, as amended by notification No. 12/2013-Customs, dated the 1st March 2013 refers.

84.2     The BCD on all textile machinery and parts thereof falling under headings 8444 to 8449 is being reduced from 7.5% to 5%. Notification No.12/2012-Customs, dated 1st March, 2012 as amended by notification No. 12/2013-Customs, dated 1st March, 2013 refers. S. No. 406A contains the changes.

Chapter 85

85.1     The BCD on Integrated Decoder Receiver, also known as Set Top Box, is being increased from 5% to 10%. S. No411 of notification No.12/2012-Customs, as amended by notification No.12 /2013-Customs, dated the 1st March 2013 refers.

 85.2     LCD and LED TV Panels of 19” and above are presently exempt from BCD under notification No 12/2012-Customs (S. No. 432). In this connection, a doubt has been raised whether this exemption is available for LCD and LED TV Modules or otherwise. 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.

85.3     Presently, all goods required for the manufacture of the goods falling under heading 8541 are exempt from BCD subject to actual user condition. Solar cells and solar modules are classified under heading 85.41. It has been brought to the notice of the Ministry that this exemption has been denied at certain places although the imported goods are required for the manufacture of solar cells and solar modules. It is clarified that the BCD exemption under S No39 of notification No. 24/2005-Customs, dated        1st March,    2005 is available to all goodsincluding chemicals and electronic parts required for the manufacture of solar cells whether or not assembled in modules or panels.

Chapter 86: No change

Chapter 87

87.1   The validity period of exemption granted to identified parts of hybrid and electric vehicles is being extended by two more years up to 31st March, 2015. Clauses (g) and (h) of Proviso to notification No.12/2012-Customs, as amended by notification No. 12/2013-Customs, dated the 1st March 2013 refers.

87.2     BCD is being exempted on lithium ion automotive battery for manufacture of lithium ion battery packs for supply to the manufacturers of hybrid and electric vehicles. Notification No.12/2012-Customs (S. No 438), as amended by notification No. 12/2013-Customs, dated the 1st March 2013 refers.

87.3      At present, cars and other motor vehicles, new with FOB value more than US $ 40,000 and with engine capacity more than 3000 cc for petrol-run vehicles and more than 2500 cc for diesel-run vehicles attract a BCD of 75%. In this connection, notification No 12/2012- Customs (S No 437, (2) (a) of the Table) refers. The entry is being amended to read: “...with CIF value more than US $ 40,000 or with engine capacity more than 3000 cc for petrol-run vehicles and more than 2500 cc for diesel-run vehicles or with both”. Further, the BCD on these cars/motor vehicles is being increased from 75% to 100%. Thus, hereafter, these cars/ motor vehicles with CIF value more than US $ 40,000 would attract 100% BCD regardless of engine capacity.
Similarly, regardless of value, cars/motor vehicles with engine capacity more than 3000 cc for petrol-run vehicles and more than 2500 cc for diesel-run vehicles would attract BCD at 100%. S. No 437 of notification No. 12/2012-Cus, as amended by notification No. 12/2013-Cus, dated the 1st March 2013 refers.

87.4     The BCD on import of old cars is being increased from 100% to 125%. Clause 76   of the Finance Bill 2013 refers. By virtue of the Provisional Collection of Taxes Act, 1931, the levy will come into force with immediate effect.

87.5   The BCD on new motorcycles with engine capacity of 800cc or more is being increased from 60% to 75%. Notification No.12/2012-Customs (S No 443), as amended by notification No. 12 /2013-Customs, dated the 1st March 2013 may be referred to for details.

Chapter 88

88.1     Exemption from education cess and secondary & higher education cess is being withdrawn on aeroplanes, helicopters and their parts. For this purpose, S Nos 51 and 52 and entries relating thereto are being deleted from notification No 69/2004-Customs, dated 9th July 2004. The relevant entry at S. No 1 is also being deleted. In this connection, notification No. 9/2013- Customs, dated 1st March 2013 refers.

88.2      The time period for consumption/installation of parts and testing equipment imported for maintenance, repair and overhaul (MRO) of aircraft by units engaged in such activities is being increased from 3 months to 1 year. S. No.448 of notification No.12/2012-Customs (Condition 73), as amended by notification No. 12/2013-Customs, dated the 1st March 2013 refers.

88.3   The customs duty exemption on parts and testing equipment for maintenance, repair and overhauling of aircraft is being extended to parts and testing equipment for maintenance repair & overhauling of aircraft and aircraft parts. S. No.448 of notification No.12/2012-Customs, as amended by notification No. 12/2013-Customs, dated the 1st March 2013 refers.

88.4   Private category aircrafts are being included in the list of eligible categories of aircrafts for the purpose of availing of the exemption under notification No 12/2012- Customs.S. No.448 of notification No.12/2012-Customs, as amended by notification No. 12/2013-Customs, dated the 1st March 2013 refers.

88.5     The terms “scheduled air transport service” and          “scheduled air cargo service” areexplained in condition No.      75 of notification No.     12/2012-Cus dated   17.3.2012. In thisconnection, a doubt has been raised whether exemption granted to parts and testing equipment imported for servicing, repair or maintenance of scheduled airlines includes foreign airlines or otherwise. Under S. Nos. 448 and 454 of the notification No. 12/2012-Customs read with condition Nos. 73 and 21 respectively, exemption has been provided for servicing, repair or maintenance of aircraft used for operating “scheduled air transport service” and “scheduled air cargo service”. The term “scheduled air transport service”/ “scheduled air cargo service”, as defined under condition No 75 of the afore-said notification, does not exclude foreign airlines. It is as such clarified that the aforesaid exemption available for “scheduled air transport service” and “scheduled air cargo service” includes foreign airlines that meet the definition of scheduled air transport and air cargo service.

88.6     Under S. No. 450 of the notification No. 12/2012-Customs read with condition 75 (ii), a foreign registered aircraft, that is brought into India for the purpose of “a flight to or across India” and which is intended to be removed within the time period specified for the purpose, is exempt from customs duty. In this connection, doubts have been raised whether the term “a flight to India” means “one landing and one take off” or it entitles the aircraft to fly to different destinations within India during the stipulated period of stay in India. The matter has been examined and it is clarified thatthe term“a flight to India”by a foreign registered non-scheduled aircraft shall mean a flight which after completion of its itinerary (which may include multiple destinations in India) leaves India within the stipulated period of 15 days, or as extended by the competent authority in the Ministry of Civil Aviation, not exceeding 60 days from the date of entry.

Chapter 89

89.1     By virtue of excise duty exemption on ships and vessels (89.01, 89. 04, 89.05 and 89.06 90 00), there will no CVD leviable on these ships and vessels. Notification Nos. 19/2012- Customs and 20-2012-Customs, both dated 17th March 2012 and S. No 462 of notification No.  12/2012-Customs, which have become redundant due to excise duty exemption, are being rescinded.

89.2     Basic customs duty on yachts and other vessels (89.03) is being increased from 10% to 25%. Clause 76 of the finance Bill, 2013 refers. By virtue of the Provisional Collection of Taxes Act, 1931, the levy will come into force with immediate effect.

89.3   The time limit for consumption of imported goods for the purpose of repair of ocean going vessels by ship repair units is being increased from 3 months to 1 year. S. Nos.459 and 460 of notification No.12/2012-Customs (Conditions 79 and 80), as amended by notification No.

12/2013-Customs, dated the 1st March 2013 refers.

Chapter 90-98: No change.

Miscellaneous:

(i)         Full exemption is being provided to trophy when imported into India by National Sports Federation recognized by the Central Government or any Sports Body registered under any law for the time being in force in connection with international tournament to be held in India. Notification No. 146/1994-Customs, dated the 13th July, 1994 as amended by notification No. 14/2013-Customs, dated the 1st March 2013 refers.

(ii)        Notification No 75/2005-Customs, dated 22nd July 2005 (India- Singapore FTA) is being amended to replace the sub-heading 2920 90 90 with the sub-heading 2920 90 99. This is a technical rectification.

(iii)       Exemption from education cess and secondary & higher education cess is being withdrawn on soya bean oil, olive oil and a few other items. Accordingly, S. Nos. 5, 6, 7, 8, 13, 51& 52 and entries relating thereto are being deleted from notification No 69/2004-Customs, dated 9th July 2004. In the said notification, at various places, references have been made to exemptions contained in erstwhile notification No. 21/2002-Customs, dated 1st March, 2002. The entries showing notification No. 21/2002-Customs (S. Nos. 9, 10, 12, 55) are being replaced by the relevant S. Nos. of notification No.12/2012 -Customs. This is a technical rectification. Notification No.69/2004-Customs as amended by notification No. 9/2013 -Customs, dated 1st March, 2013 may be referred to for details.

Baggage Rules

Presently, under Rule 6 of the Baggage Rules, 1998, an Indian passenger, who has been residing abroad for over one year, is permitted to bring jewellery without payment of duty up to an aggregate value of Rs 10,000/- in case of a gentleman passenger and Rs 20,000/- in case of a lady passenger. Under Rule 8 of the Baggage Rules,1998, a person who is transferring his residence ( Transfer of Residence) to India is also allowed to bring jewellery without payment of duty up to an aggregate value of Rs 10,000/- in case of a gentleman passenger and Rs 20,000/- in case of a lady passenger. The duty free limits are being raised to Rs 50,000/- in case of a gentleman passenger and Rs 100,000/- in case of a lady passenger.

Presently, under Rule    10 of the Baggage Rules,     1998, a crew member of the

vessel/aircraft is allowed to bring duty free items like chocolates, cheese, cosmetics etc. for their personal or family use up to a value of Rs 600. The duty free allowance is being increased from Rs 600 to Rs 1500.

Notification No 25/2013-Customs (NT), dated 1st March, 2013 which contains these changes may be referred to for details.

 

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Topics

Acts Income Tax