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Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024
A. | Changes in Basic Customs Duty (to be effective from 24.07.2024) | Rates of Duty | ||
S. No. | Chapter, Heading, sub- heading, tariff item | Commodity | From | To |
I. |
| Agricultural Products |
|
|
1. | 1207 99 90 | Shea nuts | 30% | 15% |
II. |
| Aquafarming & Marine Exports |
|
|
1. | 0306 36 | Live SPF Vannamei shrimp (Litopenaeus vannamei) broodstock | 10% | 5% |
2. | 0306 36 | Live Black tiger shrimp (Penaeus monodon) broodstock | 10% | 5% |
3. | 0306 36 60 | Artemia | 5% | Nil |
4. | 0511 91 40 | Artemia cysts | 5% | Nil |
5. | 0308 90 00 | SPF Polychaete worms | 30% | 5% |
6. | 1504 20 | Fish lipid oil for use in manufacture of aquatic feed | 15% | Nil |
7. | 1504 20 | Crude fish oil for use in manufacture of aquatic feed | 30% | Nil |
8. | 1518 | Algal Oil for use in manufacture of aquatic feed | 15% | Nil |
9. | 2102 20 00 | Algal Prime (flour) for use in manufacture of aquatic feed | 15% | Nil |
10. | 2309 90 90 | Mineral and Vitamin Premixes for use in manufacture of aquatic feed | 5% | Nil |
11. | 2301 10 90 | Insect meal for use in Research & Development purposes in aquatic feed manufacturing | 15% | 5% |
12. | 2309 90 90 | Single Cell Protein from Natural Gas for use in Research & Development purposes in aquatic feed manufacturing | 15% | 5% |
13. | 2301 20 | Krill Meal for use in manufacture of aquatic feed | 5% | Nil |
14. | 1901 | Pre-dust breaded powder for use in processing of sea-food | 30% | Nil |
15. | 2309 90 31 | Prawn and shrimps feed | 15% | 5% |
16. | 2309 90 39 | Fish feed | 15% | 5% |
III. |
| Critical Minerals |
|
|
1. | 2504 | Natural Graphite | 5% | 2.5% |
2. | 2505 | Natural sands of all kinds, whether or not coloured, other than metal bearing sands of chapter 26 of The Customs tariff Act, 1975 | 5% | Nil |
3. | 2506 | Quartz (other than natural sands); quartzite, whether or not roughly trimmed or merely cut, by sawing or otherwise, into blocks or slabs of a rectangular (including square) shape | 5% | 2.5% |
4. | 2530 90 91 | Strontium sulphate (natural ore) | 5% | Nil |
5. | 2603 00 00 | Copper ores and concentrates | 2.5% | Nil |
6. | 2605 00 00 | Cobalt ores and concentrates | 2.5% | Nil |
7. | 2609 00 00 | Tin ores and Concentrates | 2.5% | Nil |
8. | 2611 00 00 | Tungsten Ores and Concentrates | 2.5% | Nil |
9. | 2613 | Molybdenum ores and concentrates | 2.5% | Nil |
10. | 2615 10 00 | Zirconium ores and concentrates | 2.5% | Nil |
11. | 2615 90 | Hafnium Ores and concentrates | 2.5% | Nil |
12. | 2615 90 10 | Vanadium ores and concentrates | 2.5% | Nil |
13. | 2615 90 20 | Niobium or tantalum ores and concentrates | 2.5% | Nil |
14. | 2617 | Antimony Ores and Concentrates | 2.5% | Nil |
15. | 2804 50 20 | Tellurium | 5% | Nil |
16. | 2804 61 00 | Silicon, containing by weight not less than 99.99% of silicon | 5% | Nil |
17. | 2804 69 00 | Other silicon | 5% | Nil |
18. | 2804 90 00 | Selenium | 5% | Nil |
19. | 2805 30 00 | Alkali or alkaline earth metals, Rare-earth metals, scandium and yttrium, whether or not intermixed or inter alloyed | 5% | Nil |
20. | 2811 22 00 | Silicon dioxide | 7.5% | 2.5% |
21. | 2815 20 00 | Potassium hydroxide | 7.5% | Nil |
22. | 2816 40 00 | Oxides, hydroxides and peroxides, of strontium or barium | 7.5% | Nil |
23. | 2822 00 10 | Cobalt oxides | 7.5% | Nil |
24. | 2822 00 20 | Cobalt hydroxides | 7.5% | Nil |
25. | 2822 00 30 | Commercial cobalt oxides | 7.5% | Nil |
26. | 2825 20 00 | Lithium oxide and hydroxide | 7.5% | Nil |
27. | 2825 30 | Vanadium oxides and hydroxides | 2.5%/7.5% | Nil |
28. | 2825 60 10 | Germanium oxides | 7.5% | Nil |
29. | 2825 70 | Molybdenum oxides and hydroxides | 7.5% | Nil |
30. | 2825 80 00 | Antimony oxides | 7.5% | Nil |
31. | 2825 90 20 | Cadmium oxides | 7.5% | Nil |
32. | 2827 35 00 | Chlorides of Nickel | 7.5% | Nil |
33. | 2827 39 30 | Strontium chloride | 7.5% | Nil |
34. | 2833 24 00 | Sulphates of Nickel | 7.5% | Nil |
35. | 2834 21 00 | Nitrates of potassium | 7.5% | Nil |
36. | 2836 91 00 | Lithium carbonates | 7.5% | Nil |
37. | 2836 92 00 | Strontium carbonates | 7.5% | Nil |
38. | 2841 90 00 | Salts of oxometallic or peroxometallic acids of Beryllium and Rhenium | 7.5% | Nil |
39. | 2846 | Compounds, inorganic or organic of rare earth metals | 7.5% | Nil |
40. | 2918 15 30 | Bismuth citrate | 7.5% | Nil |
41. | 3801 | Artificial Graphite, colloidal or semi-colloidal graphite, preparations based on graphite or other carbon in form of pastes, blocks, plates or other semimanufactures | 7.5% | 2.5% |
42. | 8001 | Unwrought Tin | 5% | Nil |
43. | 8101 94 00 | Unwrought tungsten, including bars and rods obtained simply by sintering | 5% | Nil |
44. | 8102 94 00 | Unwrought molybdenum, including bars and rods obtained simply by sintering | 5% | Nil |
45. | 8103 20 | Unwrought tantalum, including bars and rods obtained simply by sintering, powders | 5% | Nil |
46. | 8105 20 20 | Cobalt, unwrought | 5% | Nil |
47. | 8106 10 10 | Bismuth, unwrought | 2.5% | Nil |
48. | 8109 21 00 | Unwrought zirconium, powders, Containing less than 1 part hafnium to 500 parts zirconium by weight | 10% | Nil |
49. | 8110 10 00 | Unwrought antimony, powders | 2.5% | Nil |
50. | 8112 12 00 | Beryllium unwrought, powders | 5% | Nil |
51. | 8112 31 | Hafnium unwrought, waste and scrap, powders | 10% | Nil |
52. | 8112 41 10 | Rhenium unwrought | 10% | Nil |
53. | 8112 69 10 | Cadmium unwrought, powders | 5% | Nil |
54. | 8112 69 20 | Cadmium, wrought | 5% | Nil |
55. | 8112 92 00 | (ii) Unwrought; waste and scrap; powder of, - (i) Gallium (ii) Germanium (iii) Indium (iv) Niobium (v) Vanadium | 5% | Nil |
IV. |
| Steel Sector |
|
|
1. | 7202 60 00 | Ferro Nickel | 2.5% | Nil |
2. | 7204 | Ferrous Scrap | Nil (till 30.09.2024) | Nil (till 31.03.2 026) |
3. | 7225 | Certain specified raw materials for manufacture of CRGO steel | Nil (till 30.09.2024) | Nil (till 31.03.2 026) |
V. |
| Copper |
|
|
1. | 7402 00 10 | Blister Copper | 5% | Nil |
VI. |
| Chemicals and Plastics |
|
|
1. | 3102 30 00 | Ammonium Nitrate, whether or not in aqueous solution | 7.5% | 10% |
2. | 3920 (other than 3920 99 99) or 3921 | All goods other than Poly vinyl chloride (PVC) flex films/flex banner | 25% (with effect from 24.07.2024) | 10% |
3. | 3920 99 99 | All goods other than Poly vinyl chloride (PVC) flex films/flex banner | 25% (with effect from 24.07.2024) | 15% |
VII. |
| Textile and Leather Sector |
|
|
1. | 2929 10 90 | Methylene Diphenyl Di-isocyanate (MDI) for use in the manufacture of Spandex Yarn | 7.5% | 5% Subject to IGCR conditions |
2. | 41 | Wet white, Crust and finished leather for manufacture of textile or leather garments, leather /synthetic footwear or other leather products, for export | 10% | Nil Items under Sl. No. 257B and 257C of Notification 50/2017 - Customs, dated 30.06.2017 |
3. | 38,48 or any other Chapter | Certain additional accessories and embellishments for manufacture of textile or leather garments, leather/synthetic footwear or other leather products, for export | As applicable | Nil Items under Sl. No. 257B and 257C of Notification 50/2017 - Customs, dated 30.06.2017 |
4. | 0505 10 | Real Down Filling Material from Duck or Goose for use in the manufacture of textile or leather garments for export | 30% | 10% |
VIII. |
| Cancer Drugs |
|
|
1. | 30 | (i) Trastuzumab Deruxtecan, (ii) Osimertinib, (iii) Durvalumab | 10% | Nil |
IX. |
| Precious Metals |
|
|
1. | 7108 | Gold bar | 15% | 6% |
2. | 7108 | Gold dore | 14.35% | 5.35% |
3. | 7106 | Silver bar | 15% | 6% |
4. | 7106 | Silver dore | 14.35% | 5.35% |
5. | 7110 | Platinum, Palladium, Osmium, Ruthenium, Iridium | 15.4% | 6.4% |
6. | 7118 | Coins of precious metals | 15% | 6% |
7. | 7113 | Gold/Silver findings | 15% | 6% |
8. | 71 | Platinum and Palladium used in the manufacture of noble metal solutions, noble metal compounds and catalytic convertors | 7.5% | 5% |
9. | 84 | Bushings made of platinum and rhodium alloy when imported in exchange of worn out or damaged bushings exported out of India | 7.5% | 5% |
X. |
| Medical Equipment |
|
|
1. | 39 | All types of polyethylene for use in manufacture of orthopaedic implants falling under sub-heading 9021 10 | As applicable | Nil |
2. | 39, 72, 81 | Special grade stainless steel, Titanium alloys, Cobalt-chrome alloys, and All types of polyethylene for use in manufacture of other artificial parts of the body falling under sub-heading 9021 31 or 9021 39 | As applicable | Nil |
3. | 9022 30 00 | X-ray tubes for use in manufacture of X-ray machines for medical, surgical, dental or veterinary use | 15% | 5% (till 31st March 2025) 7.5% (w.e.f 1st April, 2025 to 31st March, 2026) 10% (w.e.f 1st April, 2026) |
4. | 9022 90 90 | Flat panel detectors (including scintillators) for use in manufacture of X-ray machines for medical, surgical, dental or veterinary use | 15% | 5% (till 31st March 2025) 7.5% (w.e.f 1st April, 2025 to 31st March, 2026) 10% (w.e.f 1st April, 2026) |
XI. |
| IT and Electronics Sector |
|
|
1. | 8517 13 00, 8517 14 00 | Cellular mobile phone | 20% | 15% |
2. | 8504 40 | Charger/Adapter of cellular mobile phone | 20% | 15% |
3. | 8517 79 10 | Printed Circuit Board Assembly (PCBA) of cellular mobile phone | 20% | 15% |
4. | 28, 29, 38 | Specified parts for use in manufacture of connectors | 5%/7.5% | Nil |
5. | 74 | Oxygen Free Copper for use in manufacture of Resistors | 5% | Nil |
6. | 40 | Specified die-cut parts for use in manufacture of cellular mobile phones | As applicable | Nil |
7. | 40, 70, 76 | Specified mechanics for use in manufacture of cellular mobile phones | As applicable | Nil |
8. | 8517 79 10 | Printed Circuit Board Assembly (PCBA) of specified telecom equipment | 10% | 15% |
XII. |
| Renewable Energy Sector |
|
|
1. | 84, 85, or any other chapter | Specified capital goods for use in manufacture of solar cells or solar modules, and parts for manufacture of such capital goods | 7.5% | Nil |
2. | 7007 | Solar glass for manufacture of solar cells or solar modules | Nil | 10% (w.e.f. 1.10.20 24) |
3. | 74 | Tinned copper interconnect for manufacture of solar cells or solar modules | Nil | 5%(w.e.f 1.10.20 24) |
XIII. |
| Shipping |
|
|
1. | Any Chapter | Components and consumables for use in manufacture of specified vessels | As applicable | Nil |
2. | Any Chapter | Technical documentation and spare parts for construction of warships | As applicable | Nil |
XIV. |
| Capital goods |
|
|
1. | Any Chapter | Goods under S. No. 404 of Notification No. 50/2017 Customs, used for petroleum exploration operations | As applicable | Nil |
B. | Changes in Export Duty (To be effective from 24.7.2024) Effective export duty on raw skins, hides & leather is being simplified and rationalized. The changes are as follows - | Rate of Duty | ||
S. No. | Chapter or Heading | Commodity | From | To |
1. | 4101 to 4103 | Raw Hides & skins, all sorts (other than buffalo) | 40% | 40% |
2. | 4101 | Raw Hides & skins of buffalo | 30% | 30% |
3. | 4104 to 4106 | Tanned or crust hides of skins, whether or not split, but not further prepared | 40 | 20% |
4. | 4104 to 4106 | E.I. tanned leather | Nil | Nil |
5. | 41 | Finished leather as defined by DGFT finished leather norms | Nil | Nil |
6. | 4301 | Raw fur skins | 60%/10% | 40% |
7. | 4302 | Tanned or dressed furskin | 60% | 20% |
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