TaxTMI 
TaxTMI 
CUSTOMS
X X X X Extracts X X X X
X X X X Extracts X X X X
....ecord based. [113] 2. Subsection (45) of Section 2 which defines "warehousing station" is being omitted. [113] 3. Chapter heading of Chapter III is being amended to omit the word "warehousing station". [114] 4. Section 9 is being omitted. [115] 5. Section 25 is being amended so as to omit the requirement of publishing and offering for sale any notification issued, by the Directorate of Publicity and Public Relations of CBEC. [116] 6. Sections 28, 47, 51 and 156 are being amended so as to: a) increase the period of limitation from one year to two years in cases not involving fraud, suppression of facts, willful mis-statement, etc. b) provide for deferred payment of customs duties for importers and exporters to certain class of importers and exporters. [117], [118], [119], [135] 7. Section 53 is being amended so as to enable the Board to frame regulations for allowing transit of certain goods and conveyance without payment of duty. [120] 8. Sections 57 and 58 are being substituted to provide for licensing by the Principal Commissioner or Commissioner, in place of Deputy/Assi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....er charges on account of omission of section 63. [130] 20. Section 71 is being amended so as to substitute the word "exportation" with the word "export" to align with definition contained in sub section (18) of section 2. [131] 21. Section 72 is being amended to delete clause (c) regarding improper removal of samples [132] 22. Section 73 is being amended to provide for cancellation bond in case of transfer of ownership of the goods, and is thus aligned with sub-section (5) of section 59. [133] 23. New section 73A is being inserted so as to provide for custody of warehoused goods and responsibilities including the liabilities of warehouse keepers. [134] AMENDMENT IN THE CUSTOMS TARIFF ACT, 1975 S. No. Amendment Clause of the Finance Bill, 2016 1. To omit Section 8C [Power of Central Government to impose transitional product specific safeguard duty on imports from People's Republic of China] [137] AMENDMENT IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975 S. No. Amendment Clause of the Finance Bill, 2016 Amendments not affecting rates of duty ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....with Fe content below 58% 10% Nil 2 Iron ore lumps with Fe content below 58% 30% Nil 3 Chromium ores and concentrates, all sorts 30% Nil 4 Bauxite (natural), not calcined or calcined 20% 15% Basic Customs Duty Food Processing 1 Cashew nuts in shell Nil 5% 2 Cold chain including pre-cooling unit, packhouses, sorting and grading lines and ripening chambers 10% 5% 3 Refrigerated containers 10% 5% Mineral fuels and Mineral oils 4 Coal; briquettes, ovoids and similar solid fuels manufactured from coal 2.5% / 10% 2.5% 5 Lignite, whether or not agglomerated, excluding jet 10% 2.5% 6 Peat (including peat litter), whether or not agglomerated 10% 2.5% 7 Coke and semi-coke of coal, of lignite or of peat, whether or not agglomerated; retort carbon 5% / 10% 5% 8 Coal gas, water gas, producer gas and similar gases, other than petroleum gases and other gaseous hydrocarbons 10% 5% 9 Tar distilled from coal, from lignite or from peat and other mineral tars, wh....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 10% Nil 25 Machinery, electrical equipment and instrument and parts thereof (except populated PCBs) for semiconductor wafer fabrication / LCD fabrication units Applicable BCD SAD Nil BCD Nil SAD 26 Machinery, electrical equipment and instrument and parts thereof (except populated PCBs) imported for Assembly, Test, Marking and Packaging of semiconductor chips (ATMP) Applicable BCD SAD Nil BCD Nil SAD 27 The exemption from basic customs duty, CV duty, SAD on charger / adapter, battery and wired headsets / speakers for manufacture of mobile phone being withdrawn BCD-Nil CVD - Nil SAD - Nil Applicable BCD CVD - 12.5% SAD - 4% 28 Inputs, parts and components, subparts for manufacture of charger / adapter, battery and wired headsets / speakers of mobile phones, subject to actual user condition Applicable BCD, CVD SAD Nil BCD Nil CVD Nil SAD 29 Parts and components, subparts for manufacture of Routers, broadband Modems, Set-top boxes for gaining access to internet, set top boxes for TV, digital video recorder (DVR) / network video recorder (NVR), CC....
X X X X Extracts X X X X
X X X X Extracts X X X X
....brid vehicles BCD-Nil CVD - 6% Upto 31.03.2016 BCD-Nil CVD - 6% Without time limit 44 Aluminium Oxide for use in the manufacture of Wash Coat, which is used in the manufacture of catalytic converters, subject to actual user condition 7.5% 5% 45 Engine for xEV (hybrid electric vehicle) Applicable BCD and CVD Nil BCD 6% CVD Capital Goods 46 Specified machinery required for construction of roads CVD - Nil CVD - 12.5% Defence Production 47 Direct imports of specified goods by Government of India or State Governments, with effect from 01.4.2016 BCD Nil CVD - Nil SAD - Nil Applicable BCD, CVD and SAD 48 Imports of specified goods for defence purposes by contractors of the Government of India, PSUs or sub-contractors of PSUs, with effect from 01.4.2016 BCD Nil Applicable CVD and SAD Applicable BCD, CVD and SAD Maintenance, repair and overhaul [MRO] of aircrafts 49 Tools and tool kits when imported by MR....