Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 TMI Notes - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----
  • ---- All Laws----
  • Benami Property
  • Bill
  • Central Excise
  • Companies Law
  • Customs
  • DGFT
  • FEMA
  • GST
  • GST - States
  • IBC
  • Income Tax
  • Indian Laws
  • Money Laundering
  • SEBI
  • SEZ
  • Service Tax
  • VAT / Sales Tax
Types:
---- All Types ----
  • ---- All Types ----
  • Act Rules
  • Case Laws
  • Circulars
  • Manuals
  • News
  • Notifications
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    News Bills
    Rationalisation of provision of transfer of capital asset to partner on dissolution or reconstitutio...
    News Bills
    Provisional attachment in Fake Invoice cases
    News Bills
    Rationalisation of the provisions of Equalisation Levy
    News Bills
    Depreciation on Goodwill
    News Bills
    Rationalisation of the provision relating to processing of returned income and issuance of notice un...
    News Bills
    Adjudicating authority under the PBPT Act
    News Bills
    Rationalisation of the provision of presumptive taxation for professionals under section 44ADA
    News Bills
    Clarification regarding the scope of Vivad se Vishwas Act, 2020
    News Bills
    Definition of the term “Liable to tax”
    News Bills
    Income Declaration Scheme (IDS) amendment
    News Bills
    Tax Deduction at Source (TDS) on purchase of goods
    News Bills
    TDS/TCS on non filer at higher rates
    News Bills
    Taxability of Interest on various funds where income is exempt
    News Bills
    CUSTOMS
    News Bills
    AMENDMENTS IN THE CUSTOMS ACT, 1962
    News Bills
    AMENDMENTS IN THE CUSTOMS TARIFF ACT, 1975
    News Bills
    AMENDMENTS IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975
    News Bills
    CHANGES IN CUSTOMS RULES
    News Bills
    OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES IN RESPECTIVE NOTIFICATIONS [with effe...
    News Bills
    Other miscellaneous changes
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

Notes
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
News Bills
Show AI Summary
Capital gains on dissolution: distributions in excess of capital account treated as entity income and valued at fair market value.
Where a partner or member receives a capital asset on dissolution or reconstitution, profit or gain on that receipt is chargeable as capital gains and treated as income of the specified entity in the year of receipt, with fair market value on receipt deemed full consideration. The recipient's capital-account balance is calculated excluding increases from revaluation or self-generated goodwill/assets. Money or other assets received in excess of the capital-account balance are similarly taxed as capital gains, with the capital-account balance deemed the cost of acquisition.
News Bills
Show AI Summary
Provisional attachment powers expanded to permit attachment during pending false-entry penalty proceedings when large penalties are likely.
Provisional attachment permits the Assessing Officer, with prior approval from designated senior tax authorities, to attach an assessee's property for six months to protect revenue, revocable on furnishing a bank guarantee which may be invoked if tax demand remains unpaid. The Finance Bill proposes to amend this provision to allow the Assessing Officer to exercise attachment powers during pending penalty proceedings for false or omitted entries where a high-value penalty is likely to be imposed.
News Bills
Show AI Summary
Equalisation levy broadened to cover sales and services regardless of operator ownership, with treaty-taxable royalties excluded.
Amendments clarify that consideration chargeable to equalisation levy excludes amounts taxable as royalty or fees for technical services under a notified tax treaty; define e-commerce supply or services to include online acceptance of offers, purchase orders, payment and supply/provision (wholly or partly); broaden consideration to cover sale of goods irrespective of operator ownership and provision of services irrespective of whether provided or facilitated by the operator. These changes operate retrospectively from 1 April 2020, and section 10(50) is adjusted to the same definition and to exclude treaty-taxable royalty or FTS, effective for assessment years from 2021-22.
News Bills
Show AI Summary
Depreciation on goodwill disallowed; purchase price treated as cost for capital gains with adjustment for prior depreciation.
The proposal removes goodwill of a business or profession from the class of assets eligible for depreciation by excluding it from the definition of block of assets and from assets covered by section 32, provides transitional rules for blocks and capital gains where depreciation was earlier obtained, and preserves purchase price as cost of acquisition for capital gains subject to reduction by any depreciation claimed prior to the operative year.
News Bills
Show AI Summary
Statutory time limits shortened for intimation and notices after return filing, and audit-report income adjustments formalised.
Amendments to section 143 revise processing of returned income to allow adjustments for income increases indicated in audit reports not previously accounted for, and provide consequential changes reflecting earlier amendments to relief provisions. The statutory time limit for issuing intimations under sub section (1) is shortened to nine months from the end of the relevant financial year, and the time limit for issuing notices under sub section (2) is shortened to three months; amendments take effect from 1 April 2021.
News Bills
Show AI Summary
Adjudicating authority under PBPT Act designated to SAFEMA Competent Authority; limitation period for orders extended to September.
The Finance Bill designates the Competent Authority under SAFEMA as the Adjudicating Authority under the PBPT Act to commence functions from 1st July, 2021, replacing the interim discharge by the PMLA Adjudicating Authority. It also extends the time limit under sub section (7) of section 26 of the PBPT Act so that any order deadline expiring between 1st July, 2021 and 29th September, 2021 will be extended to 30th September, 2021.
News Bills
Show AI Summary
Presumptive taxation for professionals clarified: LLPs excluded while individuals, HUFs and partnership firms remain eligible under existing conditions.
The amendment clarifies that the presumptive taxation provision under section 44ADA applies to residents engaged in specified professions who are individuals, Hindu undivided families or partnership firms, but excludes Limited Liability Partnerships; existing eligibility conditions including the gross receipts threshold and the deemed proportion of profits remain unchanged, and the amendment is effective from 1 April 2021 for the assessment year 2021 22 onward.
News Bills
Show AI Summary
Scope of Vivad se Vishwas Act clarified to exclude cases settled under IT settlement mechanism, with retrospective amendment.
The Finance Bill clarifies that the Vivad se Vishwas Act, 2020 does not cover taxes arising from settlements under Chapter XIX-A of the Income-tax Act; amendments to the definitions of "appellant," "disputed tax," and "tax arrear" in VsV are proposed to expressly exclude Chapter XIX-A cases and to operate retrospectively from 17 March 2020.
News Bills
Show AI Summary
Liable to tax defined to include existence of tax liability under any country's law, including where exemption later granted.
The proposal inserts clause (29A) into section 2 to define "liable to tax" as a liability to tax on a person under the law of any country, expressly including cases where an exemption is provided after imposition of that liability; the definition is to apply from the statutory effective date and to subsequent assessment years.
News Bills
Show AI Summary
Refund of excess tax under Income Declaration Scheme now payable without interest to specified persons, retrospectively effective.
The proviso to section 191 of the Finance Act, 2016 is amended to permit refund of excess tax, surcharge or penalty paid pursuant to declarations under the Income Declaration Scheme, 2016 to a specified class of persons without payment of any interest; this amendment is to take effect retrospectively from 1st June, 2016. Section 187's deeming provision that a declaration is invalid if the tax, surcharge and penalty are not paid by the specified date remains in place.
News Bills
Show AI Summary
TDS on purchase of goods: new low-rate withholding applies to buyers exceeding turnover threshold and high-value purchases.
Buyers whose turnover in the preceding financial year exceeds the turnover threshold must deduct tax at a very low prescribed rate on purchases from a seller where aggregate purchases from that seller exceed the specified high-value threshold in the previous year; Central Government may exempt persons by notification. Transactions subject to other withholding or collection are excluded except where concurrent collection would arise - then the purchase withholding applies. Board-issued guidelines, binding on authorities and deductors, and a higher rate where PAN is not provided, are provided for.
News Bills
Show AI Summary
Higher withholding for non-filers: TDS and TCS to be levied at enhanced prescribed rates on specified non filers.
A special withholding regime imposes enhanced TDS and TCS rates on a "specified person" who failed to file returns for the two relevant prior assessment years after the filing deadline and whose aggregate TDS/TCS in each year meets a threshold; the TDS rate is the highest of twice the statutory rate, twice the rate in force, or a fixed base rate, and the TCS rate is the higher of twice the statutory rate or the fixed base rate. PAN based higher rates interact so that the greater rate applies; non residents without a permanent establishment are excluded.
News Bills
Show AI Summary
Exemption cap on provident fund interest limits tax-free interest for high contributions, effective for future assessment years.
Clauses (11) and (12) of section 10 are amended by a proviso excluding from exemption the interest accrued in a previous year to the extent it relates to contributions exceeding the prescribed monetary threshold in that year, with computation rules to be prescribed and the amendment applying prospectively to specified assessment years.
News Bills
Show AI Summary
Customs duty definition clarified under Finance Bill, with amendments generally commencing on enactment unless otherwise stated.
Finance Bill, 2021 defines Basic Customs Duty as the customs duty levied under the Customs Act, 1962 and states that amendments made through the Bill will come into effect on the date of its enactment unless otherwise specified, with clause numbers shown in square brackets to indicate relevant provisions.
News Bills
Show AI Summary
Common portal enables electronic filing, service and automated amendments in customs procedures, with time limits and penalty enhancements.
A common portal is introduced to enable electronic registration, filing of bills of entry and shipping bills, submission of prescribed documents, payment of duty and electronic service of orders; the customs automated system may permit risk based amendments and importer/exporter actions on the portal. Conditional exemptions will cease on a prescribed future 31st March unless extended, a two year (plus one year extension) limit is prescribed for proceedings culminating in a section 28 notice, bill of entry filing timing is tightened, pre trial disposal of seized gold requires Commissioner (Appeals) certification, inventories certified by that Commissioner gain evidentiary weight, and new confiscation and penalty provisions target wrongful refund claims and fraudulent invoices.
News Bills
Show AI Summary
Countervailing duty changes: anti absorption and retrospective levy in anti circumvention cases, with time limited temporary revocations and review period limits.
Section 8B is amended for technical corrections. Section 9 adds anti absorption, retrospective levy from initiation in anti circumvention cases, aligns countervailing duty on goods cleared from EOU and SEZ into the domestic tariff area with safeguard measures, limits temporary revocation to a time bound period not exceeding one year at a time, and provides for imposition on review for fixed multi year periods. Section 9A applies parallel changes to anti dumping duty.
News Bills
Show AI Summary
Basic Customs Duty increases raise rates on chemical, plastics, electronics and auto parts; HSN harmonisation and new crude tariff lines.
Amendments raise rates in the First Schedule to the Customs Tariff Act, 1975 by increasing Basic Customs Duty on specified chemicals, plastics, gems and jewellery, electrical and electronics items, and automotive parts under the Finance Bill, 2021, with certain items moving to higher uniform duty levels and limited exclusions preserved. A separate set of tariff headings are adjusted upward without changing their stated effective rate headings. The Schedule also adds new tariff lines for petroleum crude and implements HSN 2022 harmonisation, with some changes effective immediately under provisional collection authority and others on later dates.
News Bills
Show AI Summary
Concessional import duty rules eased to permit job work and full outsourcing, with clearance on depreciated value subject to differential duty.
Amendments to the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 permit job work on imported materials (excluding gold, jewellery and other precious metals), allow full outsourcing of manufacture to job workers, and enable clearance of imported capital goods used for the specified purpose upon payment of differential duty with interest calculated on a depreciated value using depreciation norms aligned to Export Oriented Unit treatment under the Foreign Trade Policy.
News Bills
Show AI Summary
Basic customs duty revisions reshape import protection and input relief across agriculture, metals, electronics and renewable sectors.
Revisions to Basic Customs Duty rates effective 2 February 2021 adjust import protection and input duty treatment across sectors: raised duties on selected agricultural by products, leather and silk intermediates; re rating of chemicals, plastics and mineral inputs; reorganised duties and an added cess for precious metals and related items; targeted lower or nil rates for specified electronics, telecom and renewable energy inputs to incentivise domestic manufacture; and newly dutiable capital goods and transitional concessions for raw materials supporting local industry.
News Bills
Show AI Summary
Project Imports Scheme inclusion expands import concessions for high-speed rail projects; sponsoring authority designated to approve required imports.
High-Speed Rail projects are included in the Project Imports Scheme, making them eligible for project-specific import treatment under the Project Import Regulations. A designated Sponsoring Authority is empowered to approve the items to be imported under the scheme for High-Speed Rail Projects, centralising approval of project imports for that project class.

TMI Notes

Back

All TMI Notes

Showing Results for :
Reset Filters
No Records Found

TMI Notes

Back

All TMI Notes

whatsapp Join Channel
Showing Results for : Reset Filters

Review of Customs duty Exemptions - Review of conditional exemption rates of BCD

24 July, 2024

Contents
Notifications
Plus +
Summary
Note

Note

-

Bookmark

Print

Print

Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024

(i) The BCD exemption for the goods covered under following serial numbers of the notification are being extended upto 31st March, 2026 unless specified otherwise.

S. No.

S N of 50/17-Cus

Brief Description

1.

17

Specified Planting materials, namely, oilseeds, seeds of vegetables, tubers, etc.

2.

80A

Algal oil for manufacturing of aquatic feed

3.

90

Lactose for use in manufacture of homeopathic medicines

4.

104

Specified goods used in processing of sea-food

5.

133

Gold ores and concentrates

6.

139

Bunker Fuels namely: (i). IFO 180 CST; (ii). IFO 380 CST; (iii). VLSFO (CTH 27)

7.

150

Naphtha for manufacture of Fertilisers (scope of exemption is being reduced only to Naphtha)

8.

155

Liquefied petroleum gases (LPG) received from unit in SEZ and returned by the DTA unit to the SEZ unit

9.

164

Electrical energy supplied from SEZ unit to DTA

10.

165

Electrical energy supplied from SEZ to DTA

11.

172

Specified goods used in manufacture of silicon wafers or solar wafers, for manufacture of solar cell or module

12.

183

Medical use fission Molybdenum-99 (Mo-99) for use in manufacture of radio pharmaceuticals

13.

184

Pharmaceutical Reference Standard

14.

188

Goods for manufacture of ELISA Kits

15.

191

Maltol for manufacture of deferiprone

16.

204

Anthraquinone or 2-Ethyl Anthraquinone for use in manufacture of Hydrogen peroxide

17.

237

Specified material for manufacture of EVA (Ethylene Vinyl Acetate) sheets or backsheet, which are used in the manufacture of solar photovoltaic cells or modules (Scope of materials which can be imported is being increased)

18.

253

Specified Goods for manufacture of Brushless Direct Current (BLDC) motors

19.

257

Tags, labels, stickers, belts, buttons, hangers or printed bags, imported by bonafide exporters

20.

257A

Specified goods used in manufacture of handicraft items for export when imported by bonafide exporter

21.

257B

Specified goods used in manufacture of textile or leather garments for export when imported by bonafide exporter

22.

257C

Specified goods used in manufacture of leather or synthetic footwear or other leather products for export when imported by bonafide exporter

23.

258

Security fibre, threads, Paper based Taggant, M-feature for use in manufacture of security paper by Security Paper Mill, Hoshangabad and Bank Note Paper Mill India Pvt Ltd, Mysore.

24.

259

Raw materials for manufacture of security fibre and security thread for supply to Security Paper Mill, Hoshangabad and Bank Note Paper Mill India Pvt. Ltd, Mysore for use in manufacture of security paper

25.

260

Goods for the manufacture of specified orthopedic implants (902110)

26.

261

Raw material for manufacture of Copper-T Contraceptive

(i) Alatheon

(ii) Copper Wire

27.

265

Capacitor grades polypropylene granules for manufacture of Capacitor grade plastic

28.

269

Super absorbent polymer for manufacture of adult diapers and specified goods

29.

271

Polytetrametylene ether glycol, (PT MEG) for use in manufacture of spandex yarn

30.

276

Ethylene- propylene- non-conjugated diene rubber (EPDM) for manufacture of insulated wire and cables

31.

279

New or retreated Pneumatic tyres of rubber for use in servicing, repair of maintenance of aircrafts used for operating scheduled air transport service or scheduled air cargo service etc

32.

280

New or retreated Pneumatic tyres of rubber for use in servicing, repair or maintenance of aircraft imported or procured by Aero Club of India/ for flying training purpose/ operating non-scheduled (passenger or charter) services/ AAI for flight calibration purpose

33.

290

Wood pulp for manufacture of newsprint, paper or paperboard

34.

292

Goods imported for manufacture of paper, paper boards, newsprint

35.

293A

Newsprint and uncoated paper imported for printing of newsprint

36.

296A

Lightweight coated paper imported by actual users for printing of magazines

37.

326

Hydrophilic /Hydrophobic Non- Woven, imported for use in the manufacture of Adult Diapers

38.

329

Pile fabrics for the manufacture of toys

39.

333

Moulds, tools and dies, for the manufacture of parts of electronic components or electronic equipment

40.

334

(i) Graphite Felt or Graphite pack for growing silicon ingots (ii) Thin Steel wire used in wire saw for slicing of silicon wafers

41.

345A

Simply Sawn Diamonds

42.

364A

Spent catalyst or ash containing precious metals

43.

368

Ferrous Scrap

44.

374

Magnesium Oxide (MgO) coated cold rolled steel coils for use in manufacture of cold rolled grain oriented (CRGO) steel

45.

375

Specified items for manufacture of cold rolled grain-oriented steel (CRGO) steel

46.

378

Metal parts for manufacture of electrical insulators falling under heading 8546

47.

379

Pipes and tubes for use in manufacture of boilers

48.

380

Forged steel rings for manufacture of special bearings for use in wind operated electricity generators

49.

381

Flat copper wire for use in the manufacture of photo voltaic ribbon for manufacture of solar photovoltaic cell or modules

50.

392

Dies for drawing metal, where imported after repairs from abroad

51.

403

Parts and raw materials for offshore oil exploration

52.

404

Specified items including capital goods and raw materials for off shore oil exploration

53.

415

Parts for manufacture of catalytic convertors

54.

415A

Platinum or Palladium for manufacture of Noble Metal Compounds & Noble Metal Solutions

55.

416

Ceria zirconia compounds for use in the manufacture of washcoat for catalytic converters

56.

417

Cerium compounds for use in the manufacture of washcoat for catalytic converters

57.

418

Zeolite for use in the manufacture of washcoat for catalytic converters

58.

422

Machinery, electrical equipment for use in semiconductor wafer and LCD

59.

423

Machinery, electrical equipment for use in marking and packaging of semiconductor chips

60.

426

Specified goods for the manufacture of semiconductor devices, memory card, IC, solar cell

61.

435

Capital goods for printing industry

62.

442

Bushings made of Platinum and Rhodium alloy when imported in exchange of worn out or damaged bushings exported out of India

63.

446

Parts and components for manufacture of tunnel boring machines

64.

451

Evacuated tubes with three layers of solar selective coating for use in manufacture of solar water heater

65.

462

Ball screws for use in the manufacture of CNC Lathes

66.

463

Linear Motion Guides for use in the manufacture of CNC Lathes

67.

464

CNC Systems for use in the manufacture of CNC Lathes

68.

464A

Goods for manufacture of plastic processing machineries

69.

467

Parts and components of cash dispenser or automatic bank note dispenser

70.

468

Parts for manufacture of Micro ATM, Fingerprint reader/scanner, Iris scanner, Miniaturised POS (Scope of exemption is being limited to import of raw materials only)

71.

471

All parts for use in the manufacture of LED lights

72.

472

All inputs for use in the manufacture of LED driver or MCPCB for LED lights

73.

476

Television equipment, cameras etc for taking films, imported by a foreign film unit or television team

74.

477

Filming equipment of foreign origin if imported into India after having been exported therefrom.

75.

480

Goods imported for being tested in specified test centers

76.

489B

Goods for manufacturing of Microphones

77.

504

Parts and Components of Digital Still Image Video Cameras

78.

509

Parts, components and accessories for manufacture of Digital Video Recorder

79.

510

 Parts, components and accessories for use in manufacture of reception apparatus for television

80.

511

Parts, components and accessories for manufacture of CCTV Camera

81.

512

Specified Parts, components and for use in manufacture of Lithium-ion battery and battery pack

82.

512A

Inputs, parts or sub-parts for use in the manufacturing of Printed Circuit Board Assembly

83.

515A

Open Cell for manufacture of TV Panel

84.

516

The following goods for use in the manufacture of Liquid Crystal Display (LCD) /LED TV Panel

85.

517

Magnetrons for manufacture of domestic microwave ovens

86.

519

Raw materials or parts for use in manufacture of e-Readers

87.

523A

Parts, sub-parts, inputs or raw material for use in manufacture of Lithium-ion cells

88.

527

Lithium-ion cell use in manufacture of battery or battery pack

89.

527A

Lithium-Ion Cell for use in manufacture of battery or battery pack of cellular mobile

90.

527B

Lithium-Ion Cell manufacture of battery or battery pack of EV

91.

534

Parts of gliders or simulators of aircrafts (excluding rubber tyres and tubes of gliders)

92.

535

Raw materials for manufacture of aircraft and parts of aircraft

93.

535A

Parts of aircraft for manufacture of aircraft or for manufacture of parts of aircraft by PSU under Min of Defence

94.

536

Parts, testing equipment, tools and tool-kits for maintenance, repair, and overhauling of aircraft, components or parts of aircrafts

95.

537

All goods of Heading 8802 (except 88026000-spacecraft)

96.

538

Components or parts, including engines, of aircraft of heading 8802

97.

539

(a) Satellites and payloads; (b) Ground equipment brought for testing of (a)

98.

539A

Scientific and technical instruments etc for launch vehicles and satellites

99.

540

Specified goods imported by scheduled air transporter

100.

542

Specified goods imported by Aero Club, Flying Training Institutes

101.

543

Specified goods imported by non-scheduled air transporter

102.

544

Parts (other than rubber tubes), of aircraft of heading 8802

103.

546

Parts (other than rubber tubes), of aircraft of heading 8802

104.

548

Barges or pontoons imported along with ships

105.

551

Cruise ships, Excursion ships

106.

553

Fishing vessels, Tugs and Pusher crafts, light vessels excluding vessels and floating structure imported for break up

107.

555

Vessels like warships, lifeboats excluding vessels and floating structure imported for break up

108.

567

Stainless steel tube and wire, for manufacture of Coronary stents /artificial valve

109.

569

Parts required for manufacture of Ostomy products

110.

570

Medical and surgical instruments, apparatus and appliances including spare parts and accessories thereof

111.

575

Specified Hospital Equipment for use in specified hospitals

112.

578A

Raw materials, for the manufacture of Cochlear Implants

113.

580

X-Ray Baggage Inspection Systems and parts thereof

114.

581

Portable X-ray machine / system

115.

583

Parts and cases of braille watches, for the manufacture of Braille watches

116.

591

Parts of electronic toys

117.

593

Parts of video games for the manufacture of video games

Note: Description of entries is indicative. Notification may be referred to for complete description.

(ii) The BCD exemption for the goods covered under following serial numbers of the notification no 50/2017-Customs is being extended upto 31st March 2029.

S. No.

S. No. of 50/2017Cus

Brief Description

1.

212A

Medicines/drugs/vaccines supplied free by United  Nations International Children's Emergency Fund (UNICEF), Red Cross etc

2.

213

Drugs and materials

3.

428

Specified goods imported by accredited press cameraman

4.

429

Specified goods, imported by accredited journalist

5.

549

Capital goods, raw materials and spares for repairs of ocean-going vessels

6.

550

Spare parts and consumables for repairs of ocean going vessels registered in India.

7.

577

Lifesaving medical equipment for personal use

8.

607

Life Saving drugs like Keytruda etc

9.

607A

Lifesaving drugs/medicines for personal use

10.

611

Archaeological artefacts for exhibition in a museum

11.

612

Specified raw material for sports goods

Note: Description of entries is indicative. Notification may be referred to for complete description.


Full Text:

Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024

Topics

Acts Income Tax