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    Majority decision with third member nomination resolves member disagreements in advance ruling panels, enabling electronic pronouncement and communication.
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    Game of skill excludes gambling under GST; nomen juris applied to classify Rummy as skill based for tax purposes.
    The classification of Rummy under GST depends on whether skill predominates over chance; applying the principle of nomen juris, judicially established meanings of "gambling," "game of chance," and "game of skill" must be used. Rummy requires memorisation and strategic holding and discarding of cards and has been regarded as a game of skill. Consequently, the terms betting and gambling in the GST context should not be read to include games of skill, and selective reliance on stray judicial language to levy tax on such games is impermissible.
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    Current repairs classification distinguishes capital expenditure from revenue deductions for building and machinery repairs under income tax rules.
    Classification of current repairs determines whether expenditures on buildings and on plant and machinery are revenue deductions or capitalised: enduring benefit or substantial enhancement is capital, while routine restorative or replacement outlays that merely maintain existing earning capacity are revenue; Sections 30 and 31 provide the statutory context for rent, rates, taxes, repairs and insurance for buildings and for machinery, plant and furniture.
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    Ownership for unexplained articles must reflect real ownership rights, not mere carrier possession, to trigger tax implications.
    Section 69A applies only where the assessee can properly be regarded as the owner of the item and the item is an other valuable article; a carrier or bailee lacks ownership rights unless wrongful retention or misappropriation confers exclusive control akin to ownership, and an article qualifies as "valuable" by per unit marketability and premium price rather than aggregate value of ordinary low cost goods such as bitumen.
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    Reporting entity designation expands under PMLA, bringing new activities and professionals within AML obligations.
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    Tax deduction denial for pharmaceutical freebies: expenses excluded under Explanation 1 to Section 37(1) as prohibited by law.
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    Belated employees' contribution: deduction disallowed when not deposited by prescribed statutory due date; employer contribution treated differently.
    Non-deposit of employees' contribution within the due date prescribed under the respective provident/insurance statute results in disallowance of the employer's deduction, whereas employer contributions are subject to a separate payment-based rule that defers deduction until actual payment. The statutory scheme preserves distinct treatment: employee contributions must be credited by the statutory due date to qualify as deduction, while employer contributions may be allowed on a payment basis when actually paid.
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    Optional personal tax regime clarified with default slab rules, restricted deductions, and surcharge plus cess implications.
    Existing special-rate provisions for companies and cooperative societies remain unchanged for AY 2023-24 while Part I of the First Schedule prescribes standard slab rates for other assessees; the optional personal tax regime permits eligible individuals and HUFs to elect alternative slab rates with disallowance of most deductions except specified allowances, procedural rules govern exercise and revocation of the option, and surcharge, marginal relief and a fixed health and education cess apply with specified caps and computation rules.
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    TDS rates and surcharge framework for the fiscal year set; winnings from online games are subject to withholding at a specified rate.
    TDS rates for non-salary incomes for FY 2023-24 remain as in the prior schedule and apply under the specified withholding provisions; the schedule now also covers withholding on online gaming winnings at the rate set in the Bill. Prescribed section rates govern deduction. A multi-tier surcharge regime increases deducted tax by differing rates across taxpayer categories and income bands, with caps limiting surcharge on dividend and specified capital-gains income and an alternative-regime surcharge restriction. Health and Education Cess of four percent applies on tax including surcharge where applicable.
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    TDS on salaries: prescribed deduction rates and advance-tax computation clarified, with limited change for incomes under section 115BAC.
    Part III of the Finance Bill prescribes rates for TDS on salaries and the computation of advance tax for the fiscal year, and those rates also apply when charging tax in provisional or accelerated assessments. The schedules apply across categories of taxpayers-individuals, cooperatives, firms, local authorities and companies-and the overall rate structure remains unchanged except for incomes governed by the alternative optional tax regime; the Bill also notes the continuing framework for tax rebate entitlement.
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    New Default Tax Regime: revised slab rates apply for individuals and HUFs, with optional alternative regime and surcharge caps.
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    Co-operative society tax rates updated: surcharge tiers retained; new concessional options introduced for qualifying manufacturing societies.
    Co-operative societies will continue under the existing income-tax rate structure with a tiered surcharge framework for higher total income and marginal relief. Resident societies satisfying statutory conditions may opt for an optional reduced tax regime with a specified surcharge. Newly established manufacturing co-operative societies that commence production within a prescribed window and do not claim specified incentives may opt into a concessional tax regime for subsequent assessment years, subject to surcharge.
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    Surcharge on firms applies beyond income threshold, with an upper cap limiting excess tax liability.
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    Local authority income-tax rate retained, with a capped surcharge limiting additional liability above the income threshold.
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    Company tax rates revised with reduced options for eligible domestic firms, surcharge slabs retained and health and education cess applied.
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    Rebate under section 87A expanded to raise the exempt-income threshold for resident individuals under the new tax regime.
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    GST Amendments broaden OIDAR taxability, impose statutory time limits for returns/statements, and decriminalise select offences.
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      AMENDMENTS IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975

      3 February, 2020

      Contents
      Rules & Regulations
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      Budget 2020-21 + FINANCE BILL, 2020

      AMENDMENTS

      A.

      Tariff rate changes for Basic Customs Duty [to be effective from 02.02.2020] * [Clause 115 (a) of the Finance Bill, 2020]

      Rate of Duty

      S.No.

      Heading, sub-heading, tariff item

      Commodity

      From

      To

       

       

      Food processing

       

       

      1.

      0802 32 00

      Walnuts, shelled

      30%

      100%

       

       

      Chemicals

       

       

      2.

      3824 99 00

      Other Chemical products and preparations of the chemical or allied industries, not elsewhere specified

      10%

      17.5%

       

       

      Footwear

       

       

      3.

      6401, 6402,

      6403, 6404, 6405

      Footwear

      25%

      35%

      4.

      6406

      Parts of footwear

      15%

      20%

       

       

      Household Items

       

       

      5.

      6911 10, 6911 90 20, 6911 90 90

      Tableware, kitchenware, water filters (of a capacity not exceeding 40 litres) and other household articles, of porcelain of china.

      10%

      20%

      6.

      6912 00 10, 6912 00 20, 6912 00 40, 6912 00 90

      Ceramic tableware, kitchen-ware, clay articles and other household articles

      10%

      20%

      7.

      7013

      Glassware of a kind used for table, kitchen, toilet, office, indoor decoration or Similar purposes (other than that of heading 7010 or 7018)

      10%

      20%

      8.

      7323

      Table kitchen or other household articles and parts thereof, of iron or steel, iron or steel wool; pot scourers and scouring or polishing pads, gloves and the like, of iron or steel, including pressure cookers pans utensils, misc articles such as iron & steel wool, polishing pads, gloves etc.

      10%

      20%

      9.

      7418 10

      Table, kitchen or other household articles and parts thereof, of copper; pot scourers and scouring or polishing pads, gloves and the like, of copper.

      10%

      20%

      10.

      7615 10

      Table, kitchen or other household articles and parts thereof, of aluminum; pot scourer and scouring or polishing pads, gloves and the like, of aluminum.

      10%

      20%

      11.

      8301

      Padlocks and locks (key, combination or electrically operated) of base metal; Clasps and frames with clasps, incorporating locks of base metals; keys for any of the foregoing articles, of base metals (Other than lock of a kind used for automobiles.)

      10%

      20%

      12.

      9603

      Brooms, brushes, hand operated mechanical floor sweepers, not motorized, mops and feather dusters; prepared knots and tufts for broom or brush making; paint pads and rollers; Squeegees (other than roller squeegees).

      10%

      20%

      13.

      9604 00 00

      Hand sieves and hand riddles.

      10%

      20%

      14.

      9615

      Combs, hair-slides and the like, hairpins curling pins, curling grips, hair curlers and the like other than those of heading 8516 and parts thereof.

      10%

      20%

      15.

      9617

      Vacuum flasks and other vacuum vessels, complete with cases; parts thereof other than glass inners.

      10%

      20%

      16.

      8414 51 10

      Table Fans

      10%

      20%

      17.

      8414 51 20

      Ceiling Fans

      10%

      20%

      18.

      8414 51 30

      Pedestal Fans

      10%

      20%

      19.

      8414 59 20

      Blowers, Portable

      10%

      20%

      20.

      8509 40 10

      Food Grinders

      10%

      20%

      21.

      8509 40 90

      Other grinders and Mixer

      10%

      20%

      22.

      8509 80 00

      Other Appliances

      10%

      20%

      23.

      8510 10 00

      Shavers

      10%

      20%

      24.

      8510 20 00

      Hair Clippers

      10%

      20%

      25.

      8510 30 00

      Hair-removing appliances

      10%

      20%

      26.

      8516 10 00

      Water heaters and immersion heaters

      10%

      20%

      27.

      8516 21 00

      Storage heating radiators

      10%

      20%

      28.

      8516 29 00

      Other electrical space heating apparatus

      10%

      20%

      29.

      8516 31 00

      Hair Dryers

      10%

      20%

      30.

      8516 32 00

      Other hair dressing apparatus

      10%

      20%

      31.

      8516 33 00

      Hand Drying apparatus

      10%

      20%

      32.

      8516 40 00

      Electric smoothing irons

      10%

      20%

      33.

      8516 60 00

      Other ovens, cookers, cooking plates, boiling rings, grillers and roasters

      10%

      20%

      34.

      8516 71 00

      Coffee and Tea Makers

      10%

      20%

      35.

      8516 72 00

      Toasters

      10%

      20%

      36.

      8516 79 10

      Electro-thermic fluid heaters

      10%

      20%

      37.

      8516 79 20

      Electrical or electronic devices for repelling insects

      10%

      20%

      38.

      8516 79 90

      Other electro-thermic appliances used for domestic purposes

      10%

      20%

      39.

      8516 80 00

      Electric heating resistors

      10%

      20%

       

       

      Precious Metals

       

       

      40.

      7118

      Coin

      10%

      20%

       

       

      Machinery

       

       

      41.

      8414 51 40

      Railway Carriage fans

      7.5%

      10%

      42.

      8414 51 90

      Other fans with a self-contained electric motor not exceeding 125W

      7.5%

      20%

      43.

      8414 59 10

      Air Circulator

      7.5%

      10%

      44.

      8414 59 30

      Industrial fans blowers and similar blowers

      7.5%

      10%

      45.

      8414 59 9

      Other industrial fans

      7.5%

      10%

      46.

      8414 30 00, 8414 80 11

      Compressor of Refrigerator and Air conditioner

      10%

      12.5%

      47.

      8419 89 10

      Pressure vessels

      7.5%

      10%

      48.

      8418 10 10

      Commercial type combined refrigerator freezers, fitted separate external doors

      7.5%

      15%

      49.

      8418 30 10

      Commercial freezer of chest type, not exceeding 800 litre capacity

      7.5%

      15%

      50.

      8418 30 90

      Other chest type freezers

      10%

      15%

      51.

      8418 40 10

      Electrical freezers of upright type, not exceeding 800 litre capacity

      7.5%

      15%

      52.

      8418 40 90

      Other freezers of upright type, not exceeding 800 litre capacity

      7.5%

      15%

      53.

      8418 50 00

      Refrigerating or freezing display counters, cabinets, Show-cases and the like

      7.5%

      15%

      54.

      8418 61 00

      Heat pumps other than air conditioning machines

      7.5%

      15%

      55.

      8418 69 10

      Ice making machinery

      7.5%

      15%

      56.

      8418 69 20

      Water cooler

      10%

      15%

      57.

      8418 69 30

      Vending machine, other than automatic

      10%

      15%

      58.

      8418 69 40

      Refrigerating equipment/devices used in leather industry

      7.5%

      15%

      59.

      8418 69 50

      Refrigerated farm tanks, industrial ice cream freezer

      7.5%

      15%

      60.

      8418 69 90

      Others (like freezers of capacity 800 litres and more etc.]

      7.5%

      15%

      61.

      8515 (except 8515 90 00)

      Welding and Plasma cutting machines

      7.5%

      15%

       

       

      Other Electronic goods

       

       

      62.

      8504 40 (except 8404 40 21)

      Static Converters

      15%

      20%

      63.

      8504 40 21

      Dip bridge rectifier

      10%

      20%

      64.

      8517 70 10

      Populated, loaded or stuffed printed circuit boards

      10%

      20%

       

       

      Automobile and automobile parts

       

       

      65.

      8421 39 20, 8421 39 90

      Catalytic Convertor

      10%

      15%

       

       

      Furniture Goods

       

       

      66.

      9401

      Seats and parts of seats (other than aircraft seats and their parts)

      20%

      25%

      67.

      9403

      Other Furniture and parts thereof

      20%

      25%

      68.

      9404

      Mattress supports: Articles of bedding and similar furnishing

      20%

      25%

      69.

      9405

      Lamps and lighting fittings including searchlights and spotlights and pads thereof; Illuminated signs, illuminated name plates and the like, having a permanently fixed light source, and parts thereof (except solar lantern and solar lamps).

      20%

      25%

       

       

      Toys

       

       

      70.

      9503

      Tricycles, scooters, pedal-cars and similar wheeled-toys; dolls' carriages; dolls; other toys; reduced-Size (“scale”) models and similar recreational models, working or not; puzzles of all kinds

      20%

      60%

       

       

      Stationary items

       

       

      71.

      8304 00 00

      Filing, cabinets. card-index cabinets, paper-trays, paper rests, pen trays, office-stamp stands and similar office or desk equipment of base metal, Other than office furniture of heading 9403

      10%

      20%

      72.

      8305

      Fittings for loose-leaf binders or files, letter clips, letter corners, paper clips, indexing tags and similar office articles, of base metal; staples in strips (for example, for offices, upholstery, packaging), of base metal

      10%

      20%

      73.

      8310

      Sign-plates, name-plates, address-plates and similar plates, numbers, letters and other symbols, of base metal, excluding those of heading 9405

      10%

      20%

       

       

      Miscellaneous

       

       

      74.

      6702

      Artificial Flowers

      10%

      20%

      75.

      7018 10 20

      Glass Beads

      10%

      20%

      76.

      8306

      Bells, gongs, statuettes, trophies and like, non-electric of base metal; statuettes and other ornaments of base metal; photograph, picture or similar frames, of base metal; mirrors of base metal.

      10%

      20%

      B.

      New entries added to the First Schedule [to be effective from 02.02.2020] * [Clause 115(b) of the Finance Bill, 2020]

      S. No

      Tariff Item

      Description

      Tariff Rate

      Effective rate

      1.

      8414 51 50

      Wall fans

      20%

      20%

      2.

      8529 90 30

      Open cell for television set

      15%

      0%

      3.

      8541 40 11

      Solar cells, not assembled

      20%

      0%

      4.

      8541 40 12

      Solar cells, assembled in modules or made up in panels

      20%

      0%

      *Will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931.

       


      Full Text:

      Budget 2020-21 + FINANCE BILL, 2020

      Topics

      ActsIncome Tax