Interim Budget 2014 — Changes and clarification on Customs and Central Excise

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....duty take effect from the date of publication of the notifications in the Official Gazette i.e. 17-2-2014. 2. The changes made are contained in the Annex appended to this letter, which provides a summary of the changes made. However, the details are contained in the notifications which alone have legal force. 3. Every possible effort has been made to avoid the errors or mistakes in the notifications. I shall be grateful, if the provisions of the notifications are studied carefully and feedback on issues that may need clarification including inadvertent errors, if any, that may have crept in, is provided urgently. 4. In case of any doubt or difficulty, I would request you to kindly bring it to my notice immediately or to th....

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....eared into the domestic tariff area (DTA) has been exempted from basic customs duty and CVD [Sl. Nos. 138A and 138B of the Table of notification No. 12/2012-Customs, dated 17-3-2012 as amended by notification No. 5/2014-Customs, dated 17-2-2014 refers]. (5) A concessional basic customs duty of 5% [CVD (Nil) + SAD (Nil)] has been provided to capital goods imported by Bank Note Paper Mill India Private Limited. The exemption is valid up to 31-12-2014 [Sl.No. 394A of the Table read with clause (j) of the proviso to the notification No. 12/2012-Customs, dated 17-3-2012 as amended by notification No. 5/2014-Customs, dated 17-2-2014 and Sl. No. 83A of the Table of notification No. 21/2012-Customs, dated 17-3-2012 as amended by notification No. 6....