Loading...

⚠ ✕
❮ Top
☎ Help
☰
GST ▸
Central GST ▸
Integrated GST + ▸
UTGST / SGST ▸
GST Case Laws + ▸
Income Tax ▸
Income Tax ▸
Allied (Direct Tax) ▸
Income Tax Case Laws ▸
DTAA ▸
International Taxation ▸
Customs ▸
Customs Act / Rules ▸
Notifications / Forms ▸
Circulars / Tariff ▸
Case Laws / Manual ▸
FTP/SEZ ▸
Foreign Trade ▸
Notifications / Circulars / Appendix / Forms ▸
Special Economic Zone (SEZ) ▸
Corp. Law ▸
Company Laws ▸
Standards / Trusts ▸
Partnership / LLP / Societies ▸
Case Laws ▸
FEMA ▸
FEMA / FCRA ▸
Notifications / Circulars ▸
Manual / FAQ ▸
FEMA Case Laws ▸
SEBI / IBC ▸
SEBI ▸
SEBI Case Laws ▸
IBC ▸
IBC - Case Laws ▸
PMLA ▸
Benami Property ▸
Black Money ▸
Money Laundering ▸
Vivad ▸
Direct Tax ▸
Indirect Taxes ▸
Indian Laws ▸
Indian Laws ▸
Bharatiya Nyaya 2023 ▸
Finance Acts & Bills / Amendment Acts ▸
Case Laws ▸
Labour Laws ▸
Labour Code ▸
Old / Others ▸
Central Excise ▸
Central Excise - Cases ▸
Wealth Tax ▸
Service Tax ▸
Service Tax Cases ▸
CST / DVAT ▸
CST / VAT / Sales Tax ▸
×

By creating an account you can:

Logo TaxTMI
Keyword Search :
AI Tools : New
Ask tax questions in natural language. Powered by AI trained on the TaxTMI legal database. Use AI Tools ➞
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
  6. The system will try to fetch results that contains ALL your words.
  7. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
    8. 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 ✕
🔎 Filters / Advanced Search ❯
TEXT

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
    Act Rules Bills
    Time Limitation in Search Assessments : Clause 296 of the Income Tax Bill, 2025 Vs. Section 158BE of...
    Act Rules Bills
    Assessment of Third-Party Undisclosed Income : Clause 295 of the Income Tax Bill, 2025 Vs. Section 1...
    Act Rules Bills
    Transforming the Framework for Search-Based Income Tax Assessments : Clause 294 of the Income Tax Bi...
    Act Rules Bills
    Comparative Legal Analysis of Block Period Income Computation : Clause 293 of the Income Tax Bill, 2...
    Act Rules Bills
    Evolving the Law of Search Assessments : Clause 292 of the Income Tax Bill, 2025 Vs. Section 158BA o...
    Act Rules Bills
    Redefining Search Assessments : Clause 301 of Income Tax Bill, 2025 Vs. Section 158B of Income-tax A...
    Act Rules Bills
    Streamlining Appeals and Ensuring Judicial Consistency : Clause 376 of the Income Tax Bill, 2025 Vs....
    Act Rules Bills
    Mechanisms for Avoidance of Repetitive Appeals under Indian Income Tax Statutes : Clause 375 of Inco...
    Act Rules Bills
    Legal Framework for Technological Innovation in Tax Administration : Clause 532 of the Income Tax Bi...
    Act Rules Bills
    Assessing Officer's Duty to Notify Losses : Clause 291 of the Income Tax Bill, 2025 Vs. Section 157 ...
    Act Rules Bills
    Statutory mechanism for the modification and revision of demand notices : Clause 290 of Income Tax B...
    Act Rules Bills
    Examination of Notice of Demand Provisions in Indian Tax Statutes : Clause 289 of the Income Tax Bil...
    Act Rules Bills
    Procedural Amendments and Rectification under Indian Income Tax Law : Clause 288 of Income Tax Bill,...
    Act Rules Bills
    Procedural Safeguards and Rectification under Indian Tax Law : Clause 287 of the Income Tax Bill, 20...
    Act Rules Bills
    Reforming Assessment Timelines of assessment, reassessment, and recomputation of income : Clause 286...
    Act Rules Bills
    procedural aspects of assessment, reassessment, and recomputation where income has allegedly escaped...
    Act Rules Bills
    From Faceless Assessment to Executive Schemes : Clause 532 of the Income Tax Bill, 2025 Vs. Section ...
    Act Rules Bills
    Authority and Accountability in Reopening Assessments : Clause 284 of the Income Tax Bill, 2025 Vs. ...
    Act Rules Bills
    Expanding the Framework for Assessment in Consequence of Appellate Orders : Clause 283 of the Income...
    Act Rules Bills
    The Changing Landscape of Reassessment Notices in Indian Tax Law : Clause 282 of Income Tax Bill, 20...
❮
❯
❯❯
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:

Open Link
Notes
All › Bill
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
Act Rules Bills
Time Limitation in Search Assessments : Clause 296 of the Income Tax Bill, 2025 Vs. Section 158BE of...
Show AI Summary
Time limitation for block assessments ensures fixed completion period with specified exclusions and reference extensions.
Clause 296 mandates that block assessment orders be completed within twelve months from the end of the month in which the last search or requisition authorisation was executed, extends that period by twelve months where a statutory reference is made, excludes up to 180 days for transfer of seized material to the jurisdictional Assessing Officer, provides a minimum residual period of sixty days after exclusions, and suspends the limitation clock for a specified list of circumstances such as court stays, international information exchange (capped), audits and valuation references, and advance ruling proceedings.
Act Rules Bills
Assessment of Third-Party Undisclosed Income : Clause 295 of the Income Tax Bill, 2025 Vs. Section 1...
Show AI Summary
Assessment of third-party undisclosed income enables transfer of seized material to jurisdictional AO for special assessment procedure.
Clause 295 mandates that where an AO is satisfied undisclosed income discovered in a search pertains to a person other than the one searched, all seized assets, documents and information must be handed over to the AO having jurisdiction over that third person, who will assess the third party under the Bill's special assessment procedure, with the relevant chapter's provisions applying mutatis mutandis, and explicitly includes virtual digital assets and electronic records within scope.
Act Rules Bills
Transforming the Framework for Search-Based Income Tax Assessments : Clause 294 of the Income Tax Bi...
Show AI Summary
Block assessment procedure tightens timelines and mandates electronic filing, broadening assessment to total income including undisclosed income
The clause establishes a restructured block assessment procedure triggered by search or requisition, requiring the Assessing Officer to issue a notice for a return in a prescribed form and manner with mandatory electronic filing for specified categories. Returns must be filed within a capped period, revised returns are barred, and furnished returns carry deeming consequences; prior supervisory approval is required before issuing the notice. The AO must determine tax on the basis of the block period, applying renumbered computation, penalty and procedural provisions "so far as may be," and may verify tax credits claimed against assessed undisclosed income.
Act Rules Bills
Comparative Legal Analysis of Block Period Income Computation : Clause 293 of the Income Tax Bill, 2...
Show AI Summary
Block period income computation clarifies aggregation, exclusions and evidentiary basis for assessing undisclosed income in search cases.
Clause 293 prescribes a structured, evidence based aggregation of block period income, listing components such as voluntary disclosures, income previously assessed, income declared in response to notices, income determined from books and documents, and any additional undisclosed income identified by the Assessing Officer on available evidence. It excludes international and specified domestic transactions from block assessment, applies special rules for firms, disallows set off of prior losses and unabsorbed depreciation against undisclosed income, and permits carry forward of such losses for subsequent years.
Act Rules Bills
Evolving the Law of Search Assessments : Clause 292 of the Income Tax Bill, 2025 Vs. Section 158BA o...
Show AI Summary
Search assessment regime establishes exclusive procedure for block-period income, abatement and revival rules, and separate regular-income treatment.
Clause 292 creates an exclusive special procedure for block-period assessments triggered by search or requisition, mandating automatic abatement of all pending assessments and related references or orders for relevant tax years, requiring completion of earlier search assessments before subsequent ones (with minimum extensions where needed), prescribing separate treatment of regular income for the year of the last search, providing revival of abated proceedings if the special assessment is annulled, and standardising taxation of block-period income by cross-reference to the Bill's charging provision.
Act Rules Bills
Redefining Search Assessments : Clause 301 of Income Tax Bill, 2025 Vs. Section 158B of Income-tax A...
Show AI Summary
Block period definition modernisation clarifies timeframe and triggers for assessing undisclosed income in search and requisition cases.
Clause 301 provides an interpretative framework for special search assessments by defining the block period as a multi year look back plus the portion of the year of search or requisition, modernising terminology to "tax year", clarifying that the conclusion of search (as per the last panchnama) determines execution irrespective of seizure, defining requisitioned and seized items, and expressly including virtual digital assets and incorrect claims of deductions within the definition of undisclosed income.
Act Rules Bills
Streamlining Appeals and Ensuring Judicial Consistency : Clause 376 of the Income Tax Bill, 2025 Vs....
Show AI Summary
Identical question of law deferral: appeals stayed pending final decision in lead cases, subject to collegium and taxpayer acceptance.
Clause 376 provides for deferral of revenue appeals where an identical question of law is pending before a High Court or the Supreme Court. A collegium of senior Commissioners may direct non-filing of appeals where the precedent case favours the assessee; the Principal Commissioner/Commissioner must instruct the Assessing Officer to file a prescribed-form application within set timelines. Deferral requires the assessee's acceptance of identity; absent such acceptance ordinary appellate procedures apply. If the final decision in the lead case is adverse to the revenue, appeals may be filed within specified periods.
Act Rules Bills
Mechanisms for Avoidance of Repetitive Appeals under Indian Income Tax Statutes : Clause 375 of Inco...
Show AI Summary
Avoidance of repetitive appeals: a declaration procedure lets an assessee defer identical legal issues pending higher court decisions.
Clause 375 permits an assessee to file a prescribed declaration to defer litigation where an identical question of law is pending in another case before a higher forum; the authority must verify the claim with a report from the Assessing Officer and an opportunity to be heard, and may admit or reject the claim by reasoned written order which is final. If admitted, the case may be disposed of without awaiting the other case's decision, the assessee is barred from raising the issue in further appeals for that case, and the final decision in the other case must be applied, with amendment of earlier orders if necessary.
Act Rules Bills
Legal Framework for Technological Innovation in Tax Administration : Clause 532 of the Income Tax Bi...
Show AI Summary
Power to frame schemes enables broad faceless, technology driven tax administration with authority to modify statutory application.
Clause 532 grants the Central Government power to notify schemes for any purposes of the Income Tax Act to enhance efficiency, transparency and accountability by eliminating taxpayer interface where technologically feasible and optimising resource use; it further authorises notifications to modify application of Act provisions for scheme implementation, allows amendment of existing schemes under the prior law, and requires that such notifications be laid before Parliament.
Act Rules Bills
Assessing Officer's Duty to Notify Losses : Clause 291 of the Income Tax Bill, 2025 Vs. Section 157 ...
Show AI Summary
Intimation of loss: AO must issue written notification to enable carry forward and set-off of assessed losses.
Clause 291 requires the Assessing Officer to notify the assessee by written order of the amount of loss computed for specified loss heads where a loss is established during assessment and is eligible for carry forward and set-off under the Bill; the written notification is the formal basis for claiming loss benefits in subsequent years, while the clause omits an express timeline, remedies for non-notification, and explicit treatment of appeal or rectification.
Act Rules Bills
Statutory mechanism for the modification and revision of demand notices : Clause 290 of Income Tax B...
Show AI Summary
Modification of tax demand notices: AO must revise demands to reflect insolvency orders and subsequent appellate modifications.
Clause 290 requires the Assessing Officer to serve a modified demand notice treated as a demand under the restructured Act where an earlier demand is reduced by an order under the Insolvency and Bankruptcy Code, covering tax, interest, penalty, fine or any other sum, and mandates further revision if the insolvency order is altered on appeal.
Act Rules Bills
Examination of Notice of Demand Provisions in Indian Tax Statutes : Clause 289 of the Income Tax Bil...
Show AI Summary
Notice of demand: modernised formal notice and deferment for start up share compensation, aligning tax timing with liquidity events.
Notice of demand is the statutory precondition for recovery: Clause 289(1) mandates issuance in a prescribed form for any payable sum following an order; Clause 289(2) deems certain system-generated intimations equivalent to notices to streamline automated recovery; Clause 289(3) defers tax on specified securities or sweat equity for eligible start-up employees until defined liquidity or employment-trigger events, thereby aligning tax payment timing with cash realization.
Act Rules Bills
Procedural Amendments and Rectification under Indian Income Tax Law : Clause 288 of Income Tax Bill,...
Show AI Summary
Rectification of assessments: new provision expands AO authority to amend orders for subsequent events and compliance.
Clause 288 consolidates and prescribes time-bound powers for Assessing Officers to amend assessment orders when subsequent judicial, administrative or factual events render original assessments incorrect, covering partner/AOP adjustments, recomputation for carry-forward losses, capital gains recharacterisation, foreign tax credit, TDS credit timing, transfer pricing amendments and related categories, with generally four-year limitation periods and an emphasis on digital procedural integration.
Act Rules Bills
Procedural Safeguards and Rectification under Indian Tax Law : Clause 287 of the Income Tax Bill, 20...
Show AI Summary
Rectification of mistakes apparent from the record: updated authority scope, procedural safeguards, and prescribed timelines ensure corrective relief.
Clause 287 empowers income-tax authorities to rectify mistakes apparent from the record by amending orders and specified intimations, subject to the exclusion of matters already considered in appeal or revision. Rectification may be initiated suo motu or on application, but any amendment increasing liability requires prior notice and a reasonable opportunity to be heard and must be made by written order. Reductions of liability trigger refund obligations, increases trigger prescribed demand notices, and the power is constrained by a prescribed limitation period and a statutory timeline for disposal of applications.
Act Rules Bills
Reforming Assessment Timelines of assessment, reassessment, and recomputation of income : Clause 286...
Show AI Summary
Time limits for tax assessments clarified: tabular framework sets fixed periods, exclusions and minimum residual time for authorities.
Reform replaces narrative limitation provisions with a tabular, scenario-based regime specifying trigger dates and fixed completion periods-generally one year for routine assessments and reassessments-with special shorter windows for modifications. The draft adds a twelve-month extension for transfer pricing references, an exhaustive list of periods to be excluded from limitation computations (stays, reopenings, treaty exchanges, GAAR references, valuation reports, advance rulings, search handovers, etc.), and safeguards ensuring minimum residual time for authorities, end-of-month extensions, and abatement/revival protections to preserve procedural continuity.
Act Rules Bills
procedural aspects of assessment, reassessment, and recomputation where income has allegedly escaped...
Show AI Summary
Tax rate parity: reassessment must use original-year rates, allowing dropping of proceedings if no extra liability.
Clause 285 requires tax in assessments, reassessments or recomputations for escaped income to be charged at the rates that would have applied had the income been originally assessed; allows the Assessing Officer to drop reassessment proceedings if the assessee demonstrates that inclusion of the alleged escaped income would not increase tax liability and that the original assessment was not impugned under specified appellate or revision provisions; and bars the assessee from reopening matters concluded by certain specified orders once a claim to drop proceedings is made.
Act Rules Bills
From Faceless Assessment to Executive Schemes : Clause 532 of the Income Tax Bill, 2025 Vs. Section ...
Show AI Summary
Executive power to frame tax administration schemes may reshape processes while raising delegation and legal certainty concerns.
Clause 532 empowers the Central Government to notify schemes for any purpose under the Act to eliminate taxpayer-authority interface and optimize resources; it authorises modification or suspension of statutory provisions by notification to implement schemes, permits amendment of existing schemes for transitional continuity, and requires notifications be laid before Parliament, thereby enabling broad administrative reconfiguration through subordinate legislation while raising delegation, transparency, and legal certainty concerns.
Act Rules Bills
Authority and Accountability in Reopening Assessments : Clause 284 of the Income Tax Bill, 2025 Vs. ...
Show AI Summary
Sanction authority centralization for reopening assessments shifts approval to Additional/Joint Commissioners, reducing prior higher level oversight.
Clause 284 appoints Additional Commissioners, Additional Directors, Joint Commissioners, or Joint Directors as the sole authorities to grant sanction for notices under sections 280 and 281, replacing the earlier tiered sanction regime. It removes temporal thresholds and higher level approvals formerly applied to older or complex cases, centralizes decision making, omits explanatory and delegation provisions present in the prior framework, and may therefore streamline administration while raising concerns about reduced oversight, interpretive ambiguity, and possible increased litigation.
Act Rules Bills
Expanding the Framework for Assessment in Consequence of Appellate Orders : Clause 283 of the Income...
Show AI Summary
Giving effect to appellate findings: reassessment notices may issue despite limitation, subject to safeguards preventing reopening time barred years.
Clause 283 (Income Tax Bill, 2025) and Section 150 (Income tax Act, 1961) permit issuance of assessment, reassessment or recomputation notices to give effect to a finding or direction in appellate, revisional or judicial orders, explicitly including tribunals and Approving Panel directions in the 2025 Bill. Both provisions preserve a limitation safeguard: notices cannot be issued if, when the original order (or reference to the Approving Panel) was made, the relevant year's assessment was already time barred. Notices must show a direct nexus to the operative finding or direction and remain subject to procedural requirements.
Act Rules Bills
The Changing Landscape of Reassessment Notices in Indian Tax Law : Clause 282 of Income Tax Bill, 20...
Show AI Summary
Limitation periods for reassessment notices extended and a minimum cooling-off period introduced, retaining high-value reopening threshold.
Clause 282 restructures limitation periods for notices under sections 280 and 281 by extending both standard and extended windows for reopening, retaining a high-value threshold that requires the Assessing Officer to possess books, documents or other evidence of substantial escapement, and by introducing a mandatory minimum cooling-off period before any notice may be issued; it does not explicitly replicate earlier exclusions for time spent in show-cause proceedings, court stays, or special provisions for foreign assets, creating potential interpretive gaps.

TMI Notes

All › Bill
Back

All TMI Notes

Showing Results for :
Reset Filters
No Records Found

TMI Notes

Home › TMI Notes › Bills › News › Category › This
Back

All TMI Notes

Bills

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

24 July, 2024

Contents
Notifications
Plus +
Summary
Note

Note

-

Bookmark

Print

Print

Print Options

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
Next ➔