TaxTMI 
TaxTMI 
Union Budget 2026:- Proposes substantial amendments to the Customs Act, Central Excise Act, and CGST Act, including revisions to customs duties, exemptions, and GST provisions
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.... Central Excise Notification No. 01/2026-Central Excise Notification No. 02/2026-Central Excise Notification No. 03/2026-Central Excise 1st February, 2026 Non-Tariff Notifications Customs Notification No.12/2026-Customs (NT) Notification No.13/2026-Customs (NT) Notification No.14/2026-Customs (NT) Notification No.15/2026-Customs (NT) 1st February, 2026 Circulars Customs Circular No.02/2026-Customs Circular No.03/2026-Customs Circular No.04/2026-Customs 1st February, 2026 2. Unless otherwise stated, all changes in rates of duty will take effect from 2nd February, 2026. A declaration has been made under the Provisional Collection of Taxes Act, 2023 in respect of Clause 136 (a) of the Finance Bill, 2026 and accordingly, changes proposed therein takes effect from the midnight of 1st February / 2nd February, 2026. The remaining changes would come into effect on the enactment/assent of the Bill or from 1st April, 2026/ 1st May, 2026, or as specified in the Finance Bill. 3. Important changes in respect of Customs and Central Excise duty rates and legislative changes are briefly summarised in the five Annexures appended to this lett....
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.... Data Management Annexure I CUSTOMS Note: (a) "Basic Customs Duty (BCD)" means the customs duty levied under the Customs Act, 1962. (b) "Agriculture Infrastructure and Development Cess (AIDC)" means a duty of customs that is levied under Section 124 of the Finance Act, 2021. (c) "Social Welfare Surcharge (SWS)" means a duty of customs that is levied under Section 110 of the Finance Act, 2018. (d) "First Schedule" means the First Schedule to the Customs Tariff Act, 1975. I. DUTY RATE CHANGES Chapter 1 (1) Vide S. No. 1 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, Nil BCD was prescribed on Animals and birds imported by zoo falling under this chapter. On review, this entry is being omitted with effect from (w.e.f.) 2nd February, 2026. [S.No. I(1) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. Consequently, these goods will attract a BCD rate of 30% w.e.f. 2nd February 2026. Chapter 2 (1) The applicable BCD rate on Meat and edible offal of turkeys, frozen, falling under this chapter, which hitherto was prescribed through notification No. 45/2025- Customs dated 24th October, 20....
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....ng incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entries shall be omitted w.e.f. 1st May, 2026 [S. Nos. I (9) to I (15) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. Nos. 4 to 6 of Table 1 and 2-8 of Table 2 in Annexure III. Chapter 9-11: No Change Chapter 12 (1) The applicable BCD rates on "Seeds, fruit and spores, of a kind used for sowing", and shea nuts falling under this chapter, which hitherto were prescribed through notification No. 45/2025-Customs dated 24th October, 2025 are being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entries shall be omitted w.e.f. 1st May, 2026 [S. Nos. I (16), I (17) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. No. 7 of Table 1 and S. No. 9 of Table 2 in Annexure III. Chapter 13: Tariff item 1302 19 19 to 1302 19 30 and their entries are being substituted to create nineteen new tariff items w.e.f. 1st May, 2026. [Clau....
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....t Schedule w.e.f. 1st May, 2026. Accordingly, relevant exemption entry shall be omitted w.e.f. 1st May, 2026 [S. No. I (26) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. No. 13 of Table 2 in Annexure III. Chapter 23 (1) Vide notification No. 113/2003-Customs dated 22nd July, 2003, BCD was exempted on castor oil cake and castor de-oiled cake manufactured from indigenous castor oil seeds on indigenous plant and machinery by a unit in SEZ and brought to DTA. On review, this notification is being allowed to lapse w.e.f. 1st April, 2026. Consequently, these goods will attract BCD rate of 15% w.e.f. 1st April, 2026. (2) The applicable BCD rate on Prawn and shrimps feed, falling under this chapter, which hitherto was prescribed through notification No. 45/2025-Customs dated 24th October, 2025 is being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entry shall be omitted w.e.f. 1st May, 2026 [S. No. I (28) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. ....
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.... I of notification No. 45/2025-Customs dated 24th October, 2025, Nil BCD is prescribed on Naphtha, for use in the manufacture of fertilizers, falling under heading 2710. On review, this entry is being allowed to lapse on 31st March, 2026 [S. No. I (35) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract applicable BCD rate w.e.f. 1st April, 2026. (2) Vide S. No. 95 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, Nil BCD is prescribed on Liquefied Petroleum Gases (LPG), in excess of the quantity of petroleum gases and other gaseous hydrocarbons consumed in the manufacture of polyisobutylene by the unit located in Domestic Tariff Area (DTA), received from the unit located in Special Economic Zone (SEZ) and returned by the DTA unit to the SEZ unit from where such Liquefied petroleum gases (LPG) were received, falling under heading 2711. On review, this entry is being allowed to lapse on 31st March, 2026 [S. No. 36 of notification No. 02/2026-Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract applicable BCD rate w.e.f. 1st April, 2026. (3) The applicable BCD rat....
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....ter 28 or 38. On review, this entry is being allowed to lapse on 31st March, 2026 [S. No. I (39) of notification No. 02/2026- Customs dated 1st February, 2026 refers]. (5) The applicable BCD rate on Phosphoric acid and Ammonium metavanadate, falling under this chapter, which hitherto were prescribed through notification No. 45/2025-Customs dated 24th October, 2025 are being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entries shall be omitted w.e.f. 1st May, 2026. [S. No. I (40-41) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. (6) The applicable BCD rates on Tellurium, Silicon, Silicon dioxide, Selenium, Rare-earth metals and other critical minerals falling under this chapter, which hitherto were prescribed through notification No. 36/2024-Customs dated 23rd July, 2024, are being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entries shall be omitted w.e.f. 1st May, 2026. [S. No. I (21-22) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate ....
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....ng under this chapter, which hitherto were prescribed through notification No. 45/2025-Customs dated 24th October, 2025 are being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entries shall be omitted w.e.f. 1st May, 2026. [S. No. I (48,49,51) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. No. 41 of Table 1 and S.Nos. 17-23 of Table 2 in Annexure III. (5) The applicable BCD rate on Bismuth citrate falling under this chapter, which hitherto were prescribed through notification No. 36/2024-Customs dated 23rd July, 2024 is being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entry shall be omitted w.e.f. 1st May, 2026. [S. No. 6 of notification No. 01/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. No. 42 of Table 1 in Annexure III. (6) In headings 2915, 2916, 2917, 2918, 2922, 2924, 2927, 2932, 2933, 2934 and 2939, various tariff items and their entries are being substituted to create thirty-....
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....eing omitted w.e.f. 2nd February, 2026. [S. No. I (55) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. Consequently, these goods will attract applicable rate of BCD through the First Schedule. (2) S. No. 132 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025 is being omitted w.ef. 2nd February, 2026, being redundant [S. No. I (56) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. The applicable BCD rate on Potassium sulphate, containing not more than 52% by weight of potassium oxide, falling under tariff item 3104 30 00, hitherto prescribed through this notification/ S.No. 132, shall continue vide the First Schedule. (3) The applicable BCD rate on Ammonium nitrate, whether or not in aqueous solution, falling under this chapter, which hitherto were prescribed through notification No. 45/2025-Customs dated 24th October, 2025 is being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entry shall be omitted w.e.f. 1st May, 2026 [S. No. I (54) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For detai....
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....on in form of pastes, blocks, plates or other semi-manufactures falling under this chapter, which hitherto were prescribed through notification No. 36/2024-Customs dated 23rd July, 2024, is being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entry shall be omitted w.e.f. 1st May, 2026 [S. No. 6 of notification No. 01/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. No. 44 of Table 1 in Annexure III. Consequential amendments are also being made to the SWS exemption notification to carry out above changes [S. No. 1 of notification No. 03/2026-Customs refers]. Chapter 39 (1) S. No. 139 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025 is being omitted w.e f. 2nd February, 2026, being redundant [S. No. I (61) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. The applicable BCD rate on Ethylene Vinyl Acetate (EVA), hitherto prescribed through this notification/S.No. 139, shall continue vide the First Schedule. (2) Vide S. No. 145 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, Nil ....
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....mpted) will continue to attract BCD at the rate of 2.5% and AIDC at the rate of 0.5%. Chapter 41 (1) The applicable BCD rate on Wet blue leather (hides and skins), falling under this chapter, which hitherto was prescribed through notification No. 45/2025-Customs dated 24th October 2025, is being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entry shall be omitted w.e.f. 1st May, 2026 [S. No. I (76) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. No. 25 of Table 2 in Annexure III . Chapter 42-46: No Change Chapter 47 (1) The applicable BCD rate on Rayon grade wood pulp, falling under this chapter, which hitherto was prescribed through notification No. 45/2025-Customs dated 24th October 2025, is being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entry shall be omitted w.e.f. 1st May, 2026 [S. No. I (78) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. No. 26 of....
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....Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract the applicable rate of BCD vide the First Schedule with effect from 1st April, 2026. Chapter 57-65: No Change Chapter 66: (1) The BCD on umbrellas (other than garden umbrellas) classified under tariff items 6601 91 00 and 6601 99 00 is being revised from 20% to "20% or Rs. 60 per piece, whichever is higher". [Clause 136(a) read with the Second Schedule of the Finance Bill, 2026, refers]. By virtue of declaration under the Provisional Collection of Taxes Act, 2023, the revised duty rate will come into force with effect from the midnight of 1st February / 2nd February, 2026. [Clause 136(a) read with Second Schedule of the Finance Bill, 2026, refers.] (2) The BCD on parts and components of umbrellas classified under tariff items 6603 20 00, 6603 90 10 and 6603 90 90 is also being revised from 10% to "10% or Rs. 25 per kg, whichever is higher" [Clause 136(a) read with Second Schedule of the Finance Bill 2026 refers]. By virtue of declaration under the Provisional Collection of Taxes Act, 2023, the revised duty rate will come into force with effect from the midnight of 1st February / 2nd Feb....
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....oncessional BCD rate of 7.5% is prescribed on Metal parts (covered under CTH 7325) for use in the manufacture of electrical insulators falling under tariff heading 8546. On review, this entry is being allowed to lapse on 31st March, 2026 [S. No. I (103) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract BCD rate of 15% with effect from 1st April, 2026. (3) Vide S. No. 219 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, concessional BCD rate of 7.5% is prescribed on Pipes and tubes (covered under Chapter 73) for use in manufacture of boilers. On review, this entry is being allowed to lapse on 31st March, 2026 [S. No. I (104) of notification No. 02/2026- Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract applicable rate of BCD with effect from 1st April, 2026. (4) Vide S. No. 220 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, concessional BCD rate of 5% is prescribed to Forged metal rings for manufacture of special bearings for use in wind operated electricity generators subject to certain conditions. On review, this entry is b....
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....p, falling under this chapter, which hitherto were prescribed through notification No. 45/2025-Customs dated 24th October 2025, is being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entry shall be omitted w.e.f. 1st May, 2026. [S. No. I (108) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. No. 51 of Table 1 in Annexure III. Chapter 79: (1) The applicable BCD rate on Zinc waste and scrap, falling under this chapter, which hitherto were prescribed through notification No. 45/2025-Customs dated 24th October 2025, is being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entry shall be omitted w.e.f. 1st May, 2026. [S. No. I (109) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. No. 52 of Table 2 in Annexure III. Chapter 80: No Change Chapter 81: (1) The applicable BCD rate on Cobalt powders, and Tungsten (wolfram) bars and rods, falling under this chapter, which hi....
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.... effective from 2nd February, 2026. (4) Vide S. No. 231 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, concessional BCD rate of 5% is prescribed on Permanent magnets for manufacture of PM synchronous generators above 500KW for use in wind operated electricity generator (covered under 84 or any other Chapter). On review, this entry is being allowed to lapse on 31st March, 2026 [S. No. I (118) of notification No. 02/2026- Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract applicable rate of BCD with effect from 1st April, 2026. (5) Vide S. No. 243 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, concessional BCD rate of 5% is prescribed on High-speed cold-set and High-speed Heat-set web offset printing machines with a minimum speed of 70,000 copies per hour, along with mail room equipment (covered under 84 or any other Chapter). On review, this entry is being allowed to lapse on 31st March, 2026 [S. No. I (127) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract applicable rate of BCD with effect from 1st April, 2026. (6) Vide S. No....
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....uipment, cameras and other equipment for taking films, imported by a foreign film unit or television team (covered under 85 or any other Chapter). On review, this entry is being allowed to lapse on 31st March, 2026 [S. No. I (143) of notification No. 02/2026- Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract applicable rate of BCD with effect from 1st April, 2026. (3) Vide S. No. 276 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, concessional BCD rate of Nil is prescribed on Photographic, filming, sound recording and radio equipment, raw films, video tapes and sound recording tapes, if imported into India after having been exported therefrom (covered under 85 or any other Chapter). On review, this entry is being allowed to lapse on 31st March, 2026 [S. No. I (144) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract applicable rate of BCD with effect from 1st April, 2026. (4) Vide S. No. 285 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, concessional BCD rate of 5% was prescribed on Parts of Radio Trunking terminals falling under t....
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....ter, which hitherto were prescribed through notification No. 45/2025-Customs dated 24th October, 2025 are being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption entries shall be omitted w.e.f. 1st May, 2026 [S. No. I (148 and 159) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. There is no change in the applicable rate of duty. For details, please refer to S. Nos. 31-32 of Table 2 in Annexure III Chapter 86 (1) Vide S. No. 310 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, concessional BCD rate of 5% was prescribed on Loco simulators falling under this chapter. On review, this entry is being omitted w.e.f. 2nd February, 2026. [S. No. I (163) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. Consequently, these goods will attract applicable rate of BCD through the First Schedule. (2) The applicable BCD rates on Refrigerated containers, falling under this chapter, which hitherto was prescribed through notification No. 45/2025-Customs dated 24th October, is being incorporated in the First Schedule w.e.f. from 1st May, 2026. Accordingly, the relevant exemption e....
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....will now attract BCD rate of 10% with effect from 1st April, 2026. Chapter 91-94: No Change Chapter 95 (1) Vide S. No. 397 of TABLE I of notification No. 45/2025-Customs dated 24th October, 2025, concessional BCD rate of 5% is prescribed on Parts of video games for the manufacture of video games. On review, this entry is being allowed to lapse on 31st March, 2026. [S. No. I (199) of notification No. 02/2026-Customs dated 1st February, 2026 refers]. Consequently, these goods will now attract BCD rate of 20% with effect from 1st April, 2026. (2) Parts of electronic toys for manufacture of electronic toys under S.No. 396 of TABLE I in notification No. 45/2025-Customs are being exempted from SWS with effect from 2nd February, 2026. Henceforth, all goods under heading 9503 will be exempt from the levy of SWS. Chapter 96-97: No Change Chapter 98: (1) The exemption under S. No. 66 of TABLE II in notification No. 45/2025-Customs has been modified to cover goods required for setting up of specified Nuclear Power Project, irrespective of their capacity, as certified by an officer not below the rank of a Joint Secretary to the Government of India in the Department of Atom....
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....24.10.2025 * 102 exemptions/concessional rates are being extended upto 31.03.2028 (TABLE 1 of Annexure II). * 22 exemptions/concessional rates are being lapsed on their end dates of 31.03.2026 (TABLE 2 of Annexure II). * 14 unconditional exemptions (including 5 redundant exemption entries) are being lapsed vide omitting the entries w.e.f. 02.02.2026 (TABLE 3 of Annexure II). * Other changes: o Sunset clause is being removed from 3 unconditional exemption entries (TABLE 4 of Annexure II). o Sunset clause is being prescribed for 4 conditional exemption entries in accordance with Section 25(4A) of the Customs Act (TABLE 5 of Annexure II). B. Notification No. 36/2024-Customs dated 23.07.2024 * 22 exemption entries are being omitted as redundant. The applicable BCD will operate through the First Schedule to the Customs Tariff Act, 1975, w.e.f. 02.02.2026. There will be no change in the effective BCD rate (TABLE 6 of Annexure II). C. Other customs notifications: * BCD exemptions prescribed through 4 customs notifications are being extended upto 31.03.2028 (TABLE 7 of Annexure II). * Exempti....
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....ed] 31.03.2028 15. 138 Specified goods for use in the manufacture of Brushless Direct Current (BLDC) motors 31.03.2028 16. 140 Tags, labels, stickers, belts etc. imported by bona fide exporters 31.03.2028 17. 14" Specified goods imported by bona fide exporters for use in the manufacture of handicraft items, for export 31.03.2028 18. 142 Specified goods imported by bona fide exporters for use in the manufacture of textile or leather garments, for export 31.03.2028 19. 143 Specified goods imported by bona fide exporters for use in the manufacture of leather or synthetic footwear, or other leather products, for export [The entry has been modified] 31.03.2028 20 144 Specified goods for the manufacture of orthopedic implants or other artificial parts of the body 31.03.2028 21. 146 Capacitor grades polypropylene granules or resins for the manufacture of capacitor grade plastic film 31.03.2028 22. 148 Super absorbent polymer (SAP) imported for use in the manufacture of specified goods 31.03.2028 23 150 Polytetramethylene ether glycol (PT MEG) for use in the manufacture of spandex....
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....thane operations 31.03.2028 43. 230 Goods for manufacture or the maintenance of wind operated electricity generator components. [The entry has been modified after merger of entry S. No. 220 in TABLE I of notification No. 45/2025-Customs] 31.03.2028 44. 232 Parts of catalytic converters and goods for use in the manufacture of catalytic convertors or its parts 31.03.2028 45. 233 Platinum or Palladium for use in the manufacture of Noble Metal Compounds and Noble Metal Solutions 31.03.2028 46. 234 Ceria zirconia compounds for use in the manufacture of wash coat for catalytic converters 31.03.2028 47. 235 Cerium compounds for use in the manufacture of wash coat for catalytic converters 31.03.2028 48 237 Machinery, electrical equipment, other instruments and their parts except populated PCBs for use in fabrication of semiconductor wafer and Liquid Crystal Display 31.03.2028 49. 238 Machinery, electrical equipment, other instruments and their parts except populated PCBs for use in assembly, testing, marking and packaging of semiconductor chips 31.03.2028 50 239 Specified goods for the manufa....
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....nufacturing of PCBA of Lithium-ion battery and battery pack 31.03.2028 68 297 Open cell for use in the manufacture of LCD and LED TV panels 31.03.2028 69. 302 Specified goods for use in the manufacture of LCD and LED TV panels 31.03.2028 70 306 Magnetron of up to 1.5 KW used for the manufacture of domestic microwave ovens 31.03.2028 71 314 Parts, sub-parts, inputs or raw material for use in manufacture of Lithium-ion cells 31.03.2028 72. 319 Lithium-ion cell for use in manufacture of battery or battery pack other than for cellular phone or EV 31.03.2028 73. 320 Lithium-ion cell for use in the manufacture of battery or battery pack of cellular mobile phone 31.03.2028 74 321 Lithium-ion cell for use in the manufacture of battery or battery pack of EV or hybrid motor vehicle 31.03.2028 75 333 Parts of gliders or simulators of aircrafts (excluding rubber tyres and tubes of gliders) 31.03.2028 76 334 Raw materials for manufacture of aircrafts and parts of aircrafts 31.03.2028 77. 335 Components or parts including engines, of aircraft for manufacture of air craft 31.....
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....etting up of a project for generation of power or generation of compressed bio-gas (Bio-CNG) using non-conventional materials 31.03.2028 100. 440 All items of machinery, and auxiliary equipment for setting up of fuel cell-based system for generation of power or for demonstration purposes or balance of systems operating on biogas or bio-methane or by-product hydrogen 31.03.2028 In TABLE II of notification No. 45/2025-Customs 101. 1 Security fibre, security threads, Paper Based Taggant, including M-feature, for use in the manufacture of security paper by Security Paper Mill, Hoshangabad and Bank Note Paper Mill India Private Limited, Mysore 31.03.2028 102. 2 Raw materials for use in manufacture of security fibre and security threads for supply to Security Paper Mill, Hoshangabad and Bank Note Paper Mill India Private Limited, Mysore for use in manufacture of security paper 31.03.2028 (b) Conditional exemptions entries that are being allowed to lapse are detailed as under: TABLE 2 Sl. No. S. No. of notification No. 45/2025- Customs Brief Description End date In TABLE I of notification No. 45/2025-Customs 1. 93 ....
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....for medical, surgical or veterinary use 31.03.2026 20 372 Flat panel detector for use in manufacture of X- Ray machine for medical, surgical or veterinary use 31.03.2026 21. 397 Parts of video games for the manufacture of video games 31.03.2026 In TABLE IV of notification No. 45/2025-Customs 22. 1 Motion pictures, music, gaming software for use on gaming consoles printed or recorded on media 31.03.2026 (c) Unconditional exemption entries that are being lapsed by omitting the respective entries, with effect from 2nd February, 2026 are detailed as under: TABLE 3 Sl. No. S. No. of TABLE I in notification No. 45/2025- Customs Brief Description 1. 1 Animals and birds imported by Zoo 2. 113 Alpha pinene 3. 123 Artificial Plasma 4. 128 Ammonium phosphate or ammonium nitro-phosphate, for use as manure or for the production of complex fertilisers 5. 132 Potassium sulphate, containing not more than 52% by weight of potassium oxide* 6. 137 Other diagnostic or laboratory reagents falling under tariff item 3822 90 90* 7. 139 Ethylene vinyl acetate (EVA)* 8. 157 ....
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....on No. 36/2024-Customs dated 23.07.2024, being redundant, are being omitted with effect from 2nd February, 2026. The current applied rate of Basic Customs Duty on these commodities would operate through the First Schedule. TABLE 6 Sl. No. S. No. of notification No. 36/2024-Customs Description 1. 5 Copper ores and concentrates 2. 6 Cobalt ores and concentrates 3. 7 Tin ores and concentrates 4. 8 Tungsten ores and concentrates 5. 9 Molybdenum ores and concentrates 6. 10 Zirconium ores and concentrates 7. 12 Vanadium ores and concentrates 8. 13 Niobium or tantalum ores and concentrates 9. 14 Antimony ores and concentrates 10. 42 Unwrought Tin 11. 43 Unwrought tungsten, including bars and Rods obtained simply by sintering 12. 44 Unwrought molybdenum, including bars and rods obtained simply by sintering 13. 45 Unwrought tantalum, including bars and rods obtained by sintering, powders 14. 46 Cobalt, unwrought 15. 47 Bismuth, unwrought 16. 48 Unwrought zirconium, powders, containing less than 1 part hafnium to 500 parts zirconium by we....
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...., frozen [S. No. 4 of TABLE I of notification No. 45/2025- Customs dated 24.10.2025] 5% 2. 0306 36 60 Artemia [S. No. 10 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] Nil 3. 0511 91 40 Artemia cysts [S. No. 13 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] Nil 4. 0802 11 00 Almonds, in shell [S. No. 24 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] Rs.35 per kg 5. 0802 12 00 Almonds, shelled [S. No. 25 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] Rs. 100 per kg 6. 0802 31 00 Walnuts, in shell [S. No. 26 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 100% 7. 1209 (other than those falling under sub headings 1209 91 and 1209 99) Seeds, fruit and spores, of a kind used for sowing [S. No. 34 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 15% 8. 1505 Wool grease and fatty substances derived therefrom (including lanolin) [S. No. 40 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 15% 9. 2008 19 21, 2008 19 22, 2008 19 29, 2008 19 91 ....
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.... notification No. 36/2024-Customs dated 23.07.2024] 2.5% 25. 2816 40 00 Oxides, hydroxides and peroxides, of strontium or barium [S. No. 22 of notification No. 36/2024-Customs dated 23.07.2024] Nil 26. 2822 00 10 Cobalt oxides [S. No. 23 of notification No. 36/2024-Customs dated 23.07.2024] Nil 27. 2822 00 20 Cobalt hydroxides [S. No. 24 of notification No. 36/2024-Customs dated 23.07.2024] Nil 28. 2822 00 30 Commercial cobalt oxides [S. No. 25 of notification No. 36/2024-Customs dated 23.07.2024] Nil 29. 2825 20 00 Lithium oxide and hydroxide [S. No. 26 of notification No. 36/2024-Customs dated 23.07.2024] Nil 30. 2825 30 Vanadium oxides and hydroxides [S. No. 27 of notification No. 36/2024-Customs dated 23.07.2024] Nil 31. 2825 60 10 Germanium oxides [S. No. 28 of notification No. 36/2024-Customs dated 23.07.2024] Nil 32. 2825 70 Molybdenum oxides and hydroxides [S. No. 29 of notification No. 36/2024-Customs dated 23.07.2024] Nil 33. 2825 80 00 Antimony Oxides [S. No. 30 of notification No. 36/2024-Customs dated 23.07.2024] Nil 34. 2825 9....
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....2025-Customs dated 24.10.2025] Nil 50. 7402 00 10 Blister copper [S. No. 221 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] Nil 51. 7802 Lead waste and scrap [S. No. 223 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] Nil 52. 7902 Zinc waste and scrap [S. No. 224 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] Nil 53. 8105 20 30 Cobalt powders [S. No. 226 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] Nil 54. 8419 89 12, 8419 89 13, 8419 89 14, 8419 89 15, 8419 89 16, 8419 89 17, 8419 89 19 Reactors, columns or towers or chemical storage tanks [S. No. 257 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 7.5% For the following entries, new tariff lines have been created in the First Schedule for the purposes of tarrifisation of effective rates. The changes will come into effect from the 1st day of May, 2026. Please refer to Fourth Schedule of the Finance Bill, 2026, for more details Table 2 NEW TARIFF LINES HAVE BEEN CREATED S. No. Chapter/ heading/sub- heading/tariff item mentioned in not....
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....9 31, 2202 99 91 10% 14. 2529 22 00 Acid grade fluorspar containing by weight more than 97% of calcium fluoride [S. No. 83 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 2529 22 10 2.5% 15. 2615 90 Hafnium ores and concentrates [S. No. 11 of notification No. 36/2024- Customs dated 23.07.2024] 2615 10 10 Nil 16. 2841 Ammonium metavanadate [S. No. 110 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 2841 90 10 2.5% 17. 29 Gibberellic acid [S. No. 115 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 2932 20 40 5% 18. 29 Triethyl orthoformate [S. No. 116 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 2915 90 96 5% 19. 29 Diethyl malonate [S. No. 116 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 2917 19 22 5% 20. 29 DL-2 Aminobutanol [S. No. 116 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 2922 19 30 5% 21. 29 Aceto butyrolactone [S. No. 116 of TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 2932 20 50 5% 22. 29 ....
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....f TABLE I of notification No. 45/2025-Customs dated 24.10.2025] 8609 00 10 5% Annexure IV AMENDMENTS TO CUSTOMS ACT, 1962 (1) Sub-section (2) of section 1 of the Customs Act, 1962 is being amended to extend the jurisdiction of the said Act beyond the territorial waters of India, for the purpose of fishing and fishing related activities. (2) In section 2, a new clause is being inserted to define the expression 'Indian-flagged fishing vessel'. (3) Sub-section (6) of section 28 is being amended so as to provide that the penalty paid under sub-section (5) of section 28, on determination under sub-section (6) thereof, shall be deemed to be a charge for non-payment of duty. (4) Sub-section (2) of section 28J is being amended so as to provide that advance ruling under sub-section (1) of that section shall remain valid for a period of five years or till there is a change in law or facts on the basis of which the advance ruling has been pronounced, whichever is earlier. (5) The proviso to the said sub-section is also being substituted so as to provide that in respect of any advance ruling in force on the date on which the Finance Bill, 2026 receives the as....
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....hese changes shall come into effect from midnight of 02.02.2026. (3) The Customs Baggage Declaration Regulations, 2013, the Baggage (Transit to Customs Stations) Regulations, 1967 and the Passenger's Baggage (Levy of Fees) Regulations, 1966 are being superseded by the Customs Baggage (Declaration and Processing) Regulations, 2026 to consolidate all baggage-related procedural provisions into a single, comprehensive and facilitative framework. (4) A Master Circular consolidating the statutory provisions along with applicable instructions from existing circulars/ instructions and to provide operational clarity on key aspects of baggage rules and regulations is being issued. CENTRAL EXCISE The following rate related changes are being made in the National Calamity Contingent Duty (NCCD) and Central Excise (1) The Seventh Schedule to the Finance Act, 2001 is being amended to revise the National Calamity Contingent Duty (NCCD) Schedule rates on chewing tobacco, jarda scented tobacco and other tobacco products under HS 2403 99 10, 2403 99 30 and 2403 99 90 respectively, w.e.f. 1st May, 2026, as detailed below. The effective rate will remain the same (i.e. at 25%) vide no....