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Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024
(a) The BCD exemption for the goods covered under the following notifications are being extended upto 31st March, 2026.
S. No. | Notification No. | Brief Description |
1. | Exemption to motion picture, music, gaming software for use in gaming console printed or recorded on media | |
2. | Exemption to machinery, components for setting up fuel cell based on waste to energy | |
3. | Exemption to castor oil cake and castor de-oiled cake manufactured from indigenous castor oil seeds on indigenous plant and machinery by unit in SEZ and brought to DTA | |
4. | Exemption to machinery/components for initial setting up of non-conventional power generation plants | |
5. | Exemption to work of art, antiques in museum or art gallery | |
6. | Exemption to precious stones imported by posts on 'approval or return' basis | |
7. | Exemption to copper cathodes, wire bars and wire rods produced out of copper reverts | |
8. | Exemption on gold and silver produced out of copper anode slime which were exported out of India for toll smelting and processing | |
9. | Exemption to goods imported for execution of an export order for jobbing |
Note: Description of entries is indicative. Notification may be referred to for complete description.
(b) The BCD exemption for the goods covered under the following notifications are being extended upto 31st March, 2029.
S. No. | Notification No. | Brief Description |
1. | Exemption to goods exported to foreign countries for display in show-rooms of Govt of India | |
2. | Goods supplied freely under warranty as replacement for defective ones in lieu of earlier imported goods. | |
3. | Foodstuffs and provisions (excluding fruit products, tobacco, alcohol) by foreigners | |
4. | Firearms and ammunition when imported for use by a renowned shooter | |
5. | Specified gifts; goods gifted free under a bilateral agreement; goods imported by Indian Red cross Society, goods for the purposes of relief and rehabilitation | |
6. | Appliance/aids for blind/handicapped imported by institution for blind & deaf; and other specified teaching aids imported by Govt Universities | |
7. | Articles for foreign origin imported for repair and return, theatrical equipment and costumes, mountaineering expedition equipment, photographic, filming recording etc | |
8. | Specified capital goods, and other ancillary items imported for repairs | |
9. | Specified imports relating to Defence, internal security forces and Air Force. | |
10. | Specified equipment, instruments, raw materials, components, pilot plant and computer software when imported for publicly funded R & D projects | |
11. | Scientific and technical instruments, apparatus, equipment, accessories etc when imported by publicly funded research institution | |
12. | Capital goods/machinery/ measuring instruments for manufacture of semiconductor wafers. | |
13. | Parts of aircraft when imported into India under the Standard Exchange Scheme | |
14. | Imports of artwork and antique books | |
15. | Imports in relation to defense and international security forces including medals, decorations, personal effects of Defense Personnel, bonafide gifts from foreign donors, stores and goods for trials, demonstration | |
16. | Specified medicines from whole of the duty of customs, when imported for supply under Specified Patient Assistance Programme | |
17. | Capital goods/machinery used by the IT/Electronics industry, subject to actual user condition. | |
18. | Specified raw materials, inputs and parts for use in manufacture of specified electronic items | |
19. | Aviation Turbine Fuel in the tanks of the aircrafts of an Indian Airline or of the Indian Air Force |
Note: Description of entries is indicative. Notification may be referred to for complete description.
(c) The end dates prescribed are being removed in the following notifications:
S. No. | Notification No. | Brief Description |
1. | Exemption to special Additional Duty on specified goods of fourth schedule to Central Excise Act | |
2. | Effective rate of Additional duty for goods under Chapter 27 | |
3. | Exemption to specimen, models, wall pictures and diagrams for instructional purposes | |
4. | Pedagogic material for educational or vocational training courses |
Note: Description of entries is indicative. Notification may be referred to for complete description
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