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 characters0/2000
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.
RelevanceDefaultDate
    Act RulesIncome Tax
    Comparison of section 282 "Time limit for notices u/ss 280 and 281." between the Income-Tax Act, 202...
    Act RulesIncome Tax
    Comparison of section 281 "Procedure before issuance of notice u/s 280." between the Income-Tax Act,...
    Act RulesIncome Tax
    Comparison of section 279 "Income escaping assessment." between the Income-Tax Act, 2025 (as passed)...
    Act RulesIncome Tax
    Comparison of section 274 "Reference to Principal Commissioner or Commissioner in certain cases." be...
    Act RulesIncome Tax
    Comparison of section 271 "Best judgment assessment" between the Income-Tax Act, 2025 (as passed) an...
    Act RulesIncome Tax
    Comparison of section 270 "Assessment" between the Income-Tax Act, 2025 (as passed) and the Income-T...
    Act RulesIncome Tax
    Comparison of section 267 "Tax on updated return." between the Income-Tax Act, 2025 (as passed) and ...
    Act RulesIncome Tax
    Comparison of section 266 "Self-assessment." between the Income-Tax Act, 2025 (as passed) and the In...
    Act RulesIncome Tax
    Comparison of section 263 "Return of income." between the Income-Tax Act, 2025 (as passed) and the I...
    Act RulesIncome Tax
    Comparison of section 261 "Interpretation." between the Income-Tax Act, 2025 (as passed) and the Inc...
    Act RulesIncome Tax
    Comparison of section 259 "Power to call for information by prescribed income-tax authority." betwee...
    Act RulesIncome Tax
    Comparison of section 257 "Proceedings before income-tax authorities to be judicial proceedings." be...
    Act RulesIncome Tax
    Comparison of section 256 "Power of certain income-tax authorities." between the Income-Tax Act, 202...
    Act RulesIncome Tax
    Comparison of section 253 "Powers of survey." between the Income-Tax Act, 2025 (as passed) and the I...
    Act RulesIncome Tax
    Comparison of section 251 "Copying, extraction, retention and release of books of account and docume...
    Act RulesIncome Tax
    Comparison of section 250 "Application of seized or requisitioned assets." between the Income-Tax Ac...
    Act RulesIncome Tax
    Comparison of section 248 "Powers to requisition." between the Income-Tax Act, 2025 (as passed) and ...
    Act RulesIncome Tax
    Comparison of section 247 "Search and seizure." between the Income-Tax Act, 2025 (as passed) and the...
    Act RulesIncome Tax
    Comparison of section 246 "Power regarding discovery, production of evidence, etc." between the Inco...
    Act RulesIncome Tax
    Comparison of section 243 "Power to transfer cases." between the Income-Tax Act, 2025 (as passed) an...
❯❯
MaximizeMaximizeMaximize
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 SummariesHide All Summaries
    Act RulesIncome Tax
    Show AI Summary
    Limitation period for tax notices extended in specified cases; possession or information triggers a longer issuance window.
    Section 282 prescribes time limits for notices relating to escaped income: a general four year bar (four years and three months for initiation notices), with an extension up to six years (six years and three months for initiation notices) where the Assessing Officer either has in his possession books of account or other documents/evidence showing substantial escaped income, or where information with the Assessing Officer indicates substantial escaped income; additionally, no notice may be issued within one year from the end of any tax year.
    Act RulesIncome Tax
    Show AI Summary
    Pre-notice hearing requirement: AO must serve show-cause and disclose information before issuing an escape-assessment notice.
    An Assessing Officer with information suggesting escaped income must serve a show-cause notice disclosing the information and allow the assessee to reply; after considering the reply and material on record the AO must obtain the prior approval of the specified authority before issuing a clause 280 notice. The pre-notice procedure is inapplicable where information arises from the scheme under section 260, Approving Panel directions under section 274(6), or findings in orders by an authority, Tribunal or court.
    Act RulesIncome Tax
    Show AI Summary
    Reassessment powers: AO may assess escaped income and recompute allowances, even when certain procedural steps were not complied with.
    Clause 279 permits the Assessing Officer, in a permissive exercise of discretion, to assess or reassess income escaping assessment and to recompute losses, depreciation and other allowances for the relevant tax year; this authority is framed subject to the procedural framework of sections 280-286. Subsection (2) allows the AO during those proceedings to assess other issues that come to notice subsequently and, in earlier draft text, expressly permits action irrespective of certain procedural non compliance, although the enacted wording narrows that explicit non compliance exception.
    Act RulesIncome Tax
    Show AI Summary
    Hierarchical approval for anti-avoidance: internal review can produce binding, non-appealable determinations affecting assessments and applicable tax years.
    Clause 274 permits an Assessing Officer to refer suspected impermissible avoidance arrangements to the Principal Commissioner/Commissioner, who must issue a reasons-based notice and afford a hearing; if not satisfied, the officer refers the matter to an Approving Panel. The Panel may order inquiries, call for records, specify tax years of applicability and issue binding, non-appealable directions; time limits and specified exclusions apply, and the Board will constitute and support Panels and may make rules for their functioning.
    Act RulesIncome Tax
    Show AI Summary
    Best-judgment assessment: AO may determine income where required returns or responses to notices are not furnished.
    Section 271 empowers the Assessing Officer to make a best-judgment assessment where required returns are not furnished or where the assessee fails to comply with notices under sections 268 or 270(8); the AO must consider all relevant materials gathered and, as a general rule, provide an opportunity of being heard before determining income or loss, with a limited exception relieving the AO from issuing a separate show-cause notice if a earlier section 268(1) notice has been issued.
    Act RulesIncome Tax
    Show AI Summary
    Summary processing of returns permits correction of arithmetical errors and apparent incorrect claims with adjustment of tax or refund.
    Clause 270 authorises summary processing of returns to correct arithmetical errors and certain incorrect claims apparent from any information in the return, compute tax/interest/fee and adjust payments to determine payable or refundable amounts, subject to prior intimation to the assessee and an opportunity to respond; strict post year end timelines and special sequencing protect exempt and non profit entities, and the Act adds an express ground permitting prescribed cross year consistency checks.
    Act RulesIncome Tax
    Show AI Summary
    Tax on updated return requires pre-filing payment of tax, interest and additional levy, increasing compliance obligations.
    Clause 267 requires that where an updated return under section 263(6) results in tax payable the assessee must, before furnishing the updated return, pay the tax, interest, any fee for delay/default and an additional income-tax computed on the aggregate of tax and interest; proof of payment must accompany the updated return. Specified credits, prior payments and interest already paid are to be set off in computing the net liability.
    Act RulesIncome Tax
    Show AI Summary
    Self-assessment requirement: pre-payment of tax, interest and fee before filing specified income-tax returns, with proof attached.
    The clause requires payment of tax, interest and fee before filing specified income-tax returns where tax remains payable after deducting advance tax, source deductions, specified foreign tax reliefs and tax credits; returns must be accompanied by proof of payment, interest under the Act is computed on declared tax reduced by those credits, and a defined "assessed tax" serves as the base for interest on advance tax shortfall.
    Act RulesIncome Tax
    Show AI Summary
    Mandatory filing duties and updated return limits reshape corrective filing eligibility and compliance obligations.
    Section 263 imposes mandatory filing duties for enumerated classes, prescribes due dates by category, empowers the Board to prescribe forms and particulars, and allows the Central Government to exempt classes. It distinguishes late returns, revised returns (both within nine months or before assessment completion), and an updated return remedy within a multi year window that is barred where updated filings would claim losses, reduce tax, produce refunds, duplicate updates, or where assessments, possession of information, international or internal information exchange, prosecutions, searches, surveys, requisitions or specified notices have intervened. Assessing Officers may treat unrectified defective returns as invalid after a short cure period.
    Act RulesIncome Tax
    Show AI Summary
    Digital evidence parity: seized electronic backups treated as books of account, extending tax search powers into virtual spaces.
    Clause 261 defines terms governing Chapter XIV search, seizure and requisition powers, treating material seized to include books of account, documents, digital data storage devices, computer systems and specialised programme backups and directing that such material be construed as books of account. It broadly defines computer system and virtual digital space to include cloud and remote servers, social media, online financial platforms and application platforms. The clause identifies the classes of approving, authorised and competent officers and ties the operative date for search or requisition to the last panchnama entry or the actual receipt of books, documents, computer systems or assets.
    Act RulesIncome Tax
    Show AI Summary
    Power to call for information: tax authority may require relevant records for verification, subject to defined scope of proceeding.
    A prescribed income tax authority may issue notices requiring persons to furnish information for verification of information in the authority's possession that is useful for, or relevant to, any inquiry or proceeding under the Act; the authority may specify form, manner and time for compliance and may process and utilise such information under a scheme notified under section 260. The enacted Section 259 adds subsection (3) linking the term "proceeding" to the meaning in section 253, clarifying the definitional scope of notices.
    Act RulesIncome Tax
    Show AI Summary
    Judicial character of tax proceedings clarified; civil court deeming limited and excludes a specified statutory chapter.
    Section 257 deems proceedings before income-tax authorities to be judicial proceedings for specified provisions of the Bharatiya Nyaya Sanhita, 2023, and deems income-tax authorities to be Civil Courts for the purposes of section 215 of the Bharatiya Nagarik Suraksha Sanhita, 2023, but expressly excludes application of that deeming for the purposes of Chapter XXVIII of the Bharatiya Nagarik Suraksha Sanhita, 2023.
    Act RulesIncome Tax
    Show AI Summary
    Enquiry powers: specified senior income-tax officers authorised to exercise Assessing Officer powers for statutory enquiries.
    Section 256 vests enquiry authority in specifically listed senior officers - Principal Director General/Director General, Principal Director/Director, Principal Chief Commissioner/Chief Commissioner, Principal Commissioner/Commissioner and Joint Commissioner - and grants them Assessing Officer-like powers to make enquiries under the Act, including summons and document requisition, while the clause contains no procedural provisos or territorial limits and therefore relies on other statutory or subordinate provisions for operational safeguards and delegation mechanics.
    Act RulesIncome Tax
    Show AI Summary
    Survey powers over electronic records and premises enable inspection, technical access and limited impoundment for tax compliance verification.
    Survey powers authorise entry into premises where business, profession or charitable activities are carried on to inspect books, documents, electronic media and computer systems and to require necessary technical and other assistance including access codes; officers may verify assets and stock, make extracts or copies, record statements on oath, prepare inventories and impound or retain records or computer systems after recording reasons, with retention beyond the initial statutory period requiring prior approval and temporal limits on entry applicable to business and other premises.
    Act RulesIncome Tax
    Show AI Summary
    Retention limits for seized material clarified, with supervised copying rights and an administrative remedy to challenge extensions.
    Clause 251 requires transfer of seized assets and material to the territorial Assessing Officer where the seizing authorised officer lacks jurisdiction, mandates supervised opportunity for the person to make copies or extracts, prescribes statutory retention limits tied to assessment or recomputation events with written reasons and approving authority approval for extensions, and preserves a right to apply to the Board against approvals for extended retention.
    Act RulesIncome Tax
    Show AI Summary
    Application of seized assets: assets may be applied to recover tax liabilities, subject to explanation-based release and distraint.
    The provision authorises recovery from assets seized or requisitioned under search or requisition to satisfy tax liabilities, including penalty and interest (excluding advance tax), aggregating liabilities arising before, during assessments consequent to the search, and those connected to settlement proceedings; the enacted text expressly includes block-period assessments under Part B of Chapter XVI. Release within the statutory period requires the Assessing Officer to be satisfied on the basis of the explanation furnished about nature and source, recovery of existing liabilities, and prior commissioner-level approval, while non-monetary assets are deemed under distraint and may be realised as prescribed.
    Act RulesIncome Tax
    Show AI Summary
    Power to requisition: tax officers may compel delivery of materials and electronic evidence held by other authorities.
    Clause 248 empowers an approving authority to authorise specified tax officers to require delivery of assets, books, documents, electronic information or computer systems held by officers or authorities under other laws where persons served with summonses or notices fail to produce material, where material will be useful to tax proceedings and would not be returned, or where custody assets represent undisclosed income; post-delivery, designated procedural seizure, custody and preservation provisions apply with the requisitioning officer substituted for the authorised officer.
    Act RulesIncome Tax
    Show AI Summary
    Search and seizure powers expanded to include virtual digital spaces, compelled access and evidentiary presumptions for tax investigations.
    Clause 247 authorises income tax officers to enter and search physical premises and virtual digital spaces when records or assets relevant to tax proceedings or undisclosed income are believed to be present, including compelled technical assistance, overriding access codes, copying electronic data, inventory and seizure (excluding stock in trade), and deemed seizure where removal is impracticable; it cross references IT law, applies evidentiary presumptions to found material, and provides limited procedural timelines and approvals while leaving detailed safeguards and rules to be prescribed.
    Act RulesIncome Tax
    Show AI Summary
    Discovery and production powers: tax authorities may compel evidence and attendance, subject to limited retention safeguards.
    The provision confers court-like powers on enumerated income-tax authorities to compel discovery, attendance, examination on oath, production of books and issuance of commissions for tax purposes; it allows certain authorities to exercise these powers even absent pending proceedings, ties investigative authority for senior officers to a jurisdictional nexus and suspicion of concealment, and authorises impoundment and, in the Act, explicit custody and retention of documents subject to a fifteen-day initial limit, recorded reasons and prior sanction for extensions.
    Act RulesIncome Tax
    Show AI Summary
    Case transfer power: authorities may transfer tax cases with recorded reasons and limited hearing requirements, preserving continuity of proceedings.
    A specified income-tax authority may transfer any case between Assessing Officers under its control or, where authorities differ, by agreement or by an order of the Board (or an authority the Board specifies by notification). The authority must record reasons and, "wherever it is possible to do so," afford the assessee a reasonable opportunity to be heard, except for transfers between officers in the same city/locality/place; transfers may occur at any stage and notices already issued need not be re issued. The enacted text consolidates the temporal definition of "case" and makes minor drafting refinements.

    TMI Notes

    Back

    All TMI Notes

    Showing Results for :
    Reset Filters
      No Records Found

      TMI Notes

      Back

      All TMI Notes

      whatsappJoin 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

      ActsIncome Tax