Just a moment...

⚠✕
❮ Top
☎ Help
☰
×

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 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
  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 ✕
🔎 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
    NewsBills
    AMENDMENTS IN THE CUSTOMS TARIFF ACT, 1975
    NewsBills
    AMENDMENTS IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975
    NewsBills
    CHANGES IN CUSTOMS RULES
    NewsBills
    OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES IN RESPECTIVE NOTIFICATIONS [with effe...
    NewsBills
    Other miscellaneous changes
    NewsBills
    Pruning and review of customs duty concessions/ exemptions
    NewsBills
    Prescribing the condition of observance of the Customs (Import of Goods at Concessional Rate of Duty...
    NewsBills
    IMPOSITION OF AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS ON IMPORT OF CERTAIN ITEMS [to be effe...
    NewsBills
    OTHER CHANGES (INCLUDING CERTAIN CLARIFICATIONS/ TECHNICAL CHANGES BY AMENDING NOTIFICATION NO. 50/2...
    NewsBills
    Review of levy of Social Welfare Surcharge on various items
    NewsBills
    Other Miscellaneous changes pertaining to Anti-Dumping Duty (ADD)/ Countervailing Duty (CVD)/ Safegu...
    NewsBills
    EXCISE
    NewsBills
    AMENDMENT IN THE FOURTH SCHEDULE
    NewsBills
    Retrospective amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944
    NewsBills
    Amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944
    NewsBills
    IMPOSITION OF AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS (AIDC) ON PETROL AND DIESEL
    NewsBills
    CHANGE IN EFFECTIVE RATE OF BASIC EXCISE DUTY AND SPECIAL ADDITIONAL EXCISE DUTY ON PETROL AND DIESE...
    NewsBills
    EXEMPTIONS FOR M-15, E-20 AND OTHER BLENDED FUELS
    NewsBills
    Amendments in the Schedule VII of the Finance Act 2001 (NCCD Schedule)
    NewsBills
    Goods and Service Tax
❮
❯
❯❯
MaximizeMaximizeMaximize
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
    Showing Results for :
    Reset Filters
    Results Found:
    Show All SummariesHide All Summaries
    NewsBills
    AMENDMENTS IN THE CUSTOMS TARIFF ACT, 1975
    Show AI Summary
    Countervailing duty changes: anti absorption and retrospective levy in anti circumvention cases, with time limited temporary revocations and review period limits.
    Section 8B is amended for technical corrections. Section 9 adds anti absorption, retrospective levy from initiation in anti circumvention cases, aligns countervailing duty on goods cleared from EOU and SEZ into the domestic tariff area with safeguard measures, limits temporary revocation to a time bound period not exceeding one year at a time, and provides for imposition on review for fixed multi year periods. Section 9A applies parallel changes to anti dumping duty.
    NewsBills
    AMENDMENTS IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975
    Show AI Summary
    Basic Customs Duty increases raise rates on chemical, plastics, electronics and auto parts; HSN harmonisation and new crude tariff lines.
    Amendments raise rates in the First Schedule to the Customs Tariff Act, 1975 by increasing Basic Customs Duty on specified chemicals, plastics, gems and jewellery, electrical and electronics items, and automotive parts under the Finance Bill, 2021, with certain items moving to higher uniform duty levels and limited exclusions preserved. A separate set of tariff headings are adjusted upward without changing their stated effective rate headings. The Schedule also adds new tariff lines for petroleum crude and implements HSN 2022 harmonisation, with some changes effective immediately under provisional collection authority and others on later dates.
    NewsBills
    CHANGES IN CUSTOMS RULES
    Show AI Summary
    Concessional import duty rules eased to permit job work and full outsourcing, with clearance on depreciated value subject to differential duty.
    Amendments to the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 permit job work on imported materials (excluding gold, jewellery and other precious metals), allow full outsourcing of manufacture to job workers, and enable clearance of imported capital goods used for the specified purpose upon payment of differential duty with interest calculated on a depreciated value using depreciation norms aligned to Export Oriented Unit treatment under the Foreign Trade Policy.
    NewsBills
    OTHER PROPOSALS INVOLVING CHANGES IN BASIC CUSTOMS DUTY RATES IN RESPECTIVE NOTIFICATIONS [with effe...
    Show AI Summary
    Basic customs duty revisions reshape import protection and input relief across agriculture, metals, electronics and renewable sectors.
    Revisions to Basic Customs Duty rates effective 2 February 2021 adjust import protection and input duty treatment across sectors: raised duties on selected agricultural by products, leather and silk intermediates; re rating of chemicals, plastics and mineral inputs; reorganised duties and an added cess for precious metals and related items; targeted lower or nil rates for specified electronics, telecom and renewable energy inputs to incentivise domestic manufacture; and newly dutiable capital goods and transitional concessions for raw materials supporting local industry.
    NewsBills
    Other miscellaneous changes
    Show AI Summary
    Project Imports Scheme inclusion expands import concessions for high-speed rail projects; sponsoring authority designated to approve required imports.
    High-Speed Rail projects are included in the Project Imports Scheme, making them eligible for project-specific import treatment under the Project Import Regulations. A designated Sponsoring Authority is empowered to approve the items to be imported under the scheme for High-Speed Rail Projects, centralising approval of project imports for that project class.
    NewsBills
    Pruning and review of customs duty concessions/ exemptions
    Show AI Summary
    Withdrawal of basic customs duty exemptions narrows concessional tariff coverage, removing listed goods from notification relief.
    The Finance Bill, 2021 proposes pruning concessional Basic Customs Duty by omitting specified entries from notification No. 50/2017 Customs, thereby withdrawing BCD exemptions for listed goods - including a chemical intermediate for spandex yarn, printer consumables, and multiple apparel and accessory components - with certain omissions carrying stated commencement dates.
    NewsBills
    Prescribing the condition of observance of the Customs (Import of Goods at Concessional Rate of Duty...
    Show AI Summary
    IGCR Rules compliance required for concessional-duty import entries, with jurisdictional verification and rescission of select exemption notifications.
    Amends notification No. 50/2017-Customs to prescribe observance of the Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 for specified conditional entries, empowers the changed jurisdictional authority to issue end use certificates for past periods after verification, and rescinds or merges selected standalone duty exemption notifications to rationalise concessional import conditions.
    NewsBills
    IMPOSITION OF AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS ON IMPORT OF CERTAIN ITEMS [to be effe...
    Show AI Summary
    Agriculture Infrastructure and Development Cess imposed on specified imports, adjusting customs duties to fund farm infrastructure.
    An Agriculture Infrastructure and Development Cess (AIDC) is proposed on specified imports effective 02.02.2021 under Clause 115 of the Finance Bill, 2021 to finance agricultural infrastructure; the proposal imposes itemised AIDC rates while lowering certain basic customs duty rates so consumer burden is not increased in most cases, covering edible oils, pulses, alcoholic beverages, coal, fertilisers, cotton, and precious metals with a detailed tariff schedule.
    NewsBills
    OTHER CHANGES (INCLUDING CERTAIN CLARIFICATIONS/ TECHNICAL CHANGES BY AMENDING NOTIFICATION NO. 50/2...
    Show AI Summary
    Tariff classification update: notification entries revised to clarify exclusions and omit redundant entries in customs schedule.
    Amendments to notification No. 50/2017-Customs revise HS transpositions and commodity descriptions, specify exclusions for pulses, omit temporally redundant or duplicate entries, replace broad chapter references with specific headings, insert an explanation to exclude toy balloons of natural rubber latex from an exemption, simplify concessional-rate language for newsprint and similar uncoated papers, and delete redundant proviso clauses to prevent misclassification and remove ambiguity.
    NewsBills
    Review of levy of Social Welfare Surcharge on various items
    Show AI Summary
    Social Welfare Surcharge changes narrow its application, exempting AIDC and limiting levy to value plus basic customs duty.
    Modification to the Social Welfare Surcharge: Notification No. 12/2018-Customs prescribing a 3% rate on certain items including gold and silver is rescinded; SWS is rescinded on goods under headings 2515 11 and 2515 12; SWS is exempted on the value of AIDC for gold and silver, so SWS will apply only on value plus basic customs duty.
    NewsBills
    Other Miscellaneous changes pertaining to Anti-Dumping Duty (ADD)/ Countervailing Duty (CVD)/ Safegu...
    Show AI Summary
    Anti-dumping duty rules revised to require earlier final findings and permit provisional anti circumvention assessments; select duties revoked.
    Amendments require designated authorities in ADD and CVD review cases to issue final findings at least three months before duty expiry and allow provisional assessment in anti circumvention investigations; safeguard rules are reworked to detail implementation and renamed Safeguard Measures. Specific temporary revocations and discontinuations of anti dumping and countervailing duties on listed steel and alloy products from specified origins are announced.
    NewsBills
    EXCISE
    Show AI Summary
    Excise duty definitions clarified in Finance Bill, with specified duties and amendments effective on enactment.
    The Finance Bill, 2021 defines Basic Excise Duty by reference to the Fourth Schedule of the Central Excise Act, 1944 and identifies Road and Infrastructure Cess, Special Additional Excise Duty, and NCCD with their statutory origins; it also indicates clause numbering conventions and provides that amendments in the Bill take effect on enactment unless otherwise stated.
    NewsBills
    AMENDMENT IN THE FOURTH SCHEDULE
    Show AI Summary
    Tariff amendment: retrospective validation of a prior Fourth Schedule change and insertion of new harmonised tariff items with prescribed duty.
    The document amends the Fourth Schedule: a prior notification amending the Schedule is made effective retrospectively from the start of the stated year; new tariff items are inserted in Chapter 24 to align with the upcoming Harmonised System nomenclature and a prescribed tariff rate is imposed on those items effective from the commencement of the new nomenclature year.
    NewsBills
    Retrospective amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944
    Show AI Summary
    Retrospective tariff amendment clarifies classification and prescribes increased excise duty rates effective retrospectively from budget measures.
    Retrospective amendments to Chapter 27 of the Fourth Schedule to the Central Excise Act correct the Indian Standard for tariff item 27101249 to IS 17076 and prescribe a combined ad valorem and specific per litre excise duty for tariff items 2710 20 10 and 2710 20 20, all effective from 01.01.2020, as proposed in the Finance Bill, 2021.
    NewsBills
    Amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944
    Show AI Summary
    Tariff amendment revises Chapter 27 classifications for petroleum oils, altering excise duty treatment effective next fiscal year.
    Amendment substitutes entries in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944 revising tariff items for petroleum oils: petroleum crude is classified under tariff item 2709 00 10 assessed per kilogram with a nil excise duty, and a substituted entry for other petroleum oils appears under 2709 00 20 assessed per kilogram with the duty entry not specified in the extract; the amendment is linked to the Finance Bill and is stated to take effect from the next fiscal year.
    NewsBills
    IMPOSITION OF AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS (AIDC) ON PETROL AND DIESEL
    Show AI Summary
    Agriculture Infrastructure and Development Cess on petrol and diesel imposed for agriculture infrastructure funding, effective immediately.
    An additional duty of excise, the Agriculture Infrastructure and Development Cess, is proposed on motor spirit (petrol) and high speed diesel by the Finance Bill, 2021 to finance agriculture infrastructure and related development expenditure. The proposal sets fixed per litre cess rates for each fuel and declares the levy effective immediately through the provisional tax collection mechanism, thereby earmarking cess proceeds for agriculture infrastructure and development spending.
    NewsBills
    CHANGE IN EFFECTIVE RATE OF BASIC EXCISE DUTY AND SPECIAL ADDITIONAL EXCISE DUTY ON PETROL AND DIESE...
    Show AI Summary
    Excise duty adjustment: reductions in basic and special additional excise duties offset the new AIDC to protect consumers.
    A new AIDC on petrol and high speed diesel takes effect from 02.02.2021, with concurrent reductions in Basic Excise Duty and Special Additional Excise Duty so consumers do not face additional burden. Revised per litre compositions: petrol unbranded BED 1.4, SAED 11, AIDC 2.5; petrol branded BED 2.6, SAED 11, AIDC 2.5; diesel unbranded BED 1.8, SAED 8, AIDC 4; diesel branded BED 4.2, SAED 8, AIDC 4.
    NewsBills
    EXEMPTIONS FOR M-15, E-20 AND OTHER BLENDED FUELS
    Show AI Summary
    Exemptions for blended fuels: cesses and surcharges waived for M-15 and E-20 where inputs are duty paid.
    Exemptions align excise cesses and surcharges for M-15 and E-20 with existing treatment for lower blends, provided the blended fuels are produced from duty-paid inputs; amendments to central excise notifications extend tax relief to higher-percentage blends on the same eligibility condition tied to the duty status of upstream inputs.
    NewsBills
    Amendments in the Schedule VII of the Finance Act 2001 (NCCD Schedule)
    Show AI Summary
    NCCD on newly inserted tobacco tariff items imposed under the finance measure, becoming chargeable upon HS 2022 implementation.
    Two new tariff items, inserted to align with the HS 2022 nomenclature, are added to Schedule VII of the Finance Act, 2001 and made subject to National Calamity Contingent Duty; the prescribed NCCD rate applies to these tariff entries with effect from the implementation date of HS 2022.
    NewsBills
    Goods and Service Tax
    Show AI Summary
    Commencement of GST amendments: Finance Bill measures effective on notification and aligned with state enactments.
    Amendments to the Goods and Services Tax framework introduced in the Finance Bill, 2021 will come into effect only when they are notified, and, insofar as practicable, will be notified concurrently with corresponding amendments enacted by States and Union Territories having legislatures; the Bill treats the CGST Act, 2017 and the IGST Act, 2017 as the governing central and integrated GST enactments.

    TMI Notes

    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

      whatsappJoin Channel
      Showing Results for : Reset Filters
      Bills

      Other Miscellaneous changes pertaining to Anti-Dumping Duty (ADD)/ Countervailing Duty (CVD)/ Safeguard Measures

      1 February, 2021

      Contents
      Plus +
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Print Options

      Budget 2021-22 + FINANCE Bill, 2021

      Other Miscellaneous changes pertaining to Anti-Dumping Duty (ADD)/ Countervailing Duty (CVD)/ Safeguard Measures

      1.

      Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 provide for manner and procedure for investigation into dumping of goods that cause injury to domestic industry. Changes are being made in the Rules, to provide that with effect from 01.07.2021, to provide that final findings are to be issued by the designated authority, in review cases, at least three months prior to expiry of the ADD under review. The ADD Rules are also being amended to provide for provisional assessment in cases of anti-circumvention investigation. Certain other changes are being made for bringing clarity in the scope of these rules.

      2.

      Customs Tariff (Identification, Assessment and Collection of Countervailing Duty on Subsidized Articles and for Determination of Injury) Rules, 1995 provide for manner and procedure for causing investigation into the cases of imports of subsidized goods that cause injury to domestic industry. Changes are being made in the Rules to provide that with effect from 01.07.2021, the final findings are to be issued by the designated authority, in review cases, at least three months prior to expiry of the CVD under review. The CVD Rules are also being amended to provide for provisional assessment in cases of anti-circumvention investigation. Certain other changes are being made for bringing clarity in the scope of these rules.

      3

      Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997 (Safeguard Duty being changed to Safeguard Measures) provide for manner and procedure for causing investigation into the cases of imports in increased quantity that cause injury to domestic industry. Changes in the rules are being proposed to elaborate in detailed manner the modalities of implementation of safeguard measure, along with technical modifications consequent to the changes made earlier in section 8B of the Customs Tariff Act vide Finance Act, 2020.

      4.

      Anti-Dumping duty is being temporarily revoked for the period commencing from 2.2.2021 till 30.09.2021, on imports of the following-

      a) Straight Length Bars and Rods of alloy-steel, originating in or exported from People‟s Republic of China, imposed vide notification No. 54/2018-Cus (ADD) dated 18.10.2018;

      b) High Speed Steel of Non-Cobalt Grade, originating in or exported from Brazil, People‟s Republic of China and Germany, imposed vide notification No. 38/2019-Cus (ADD) dated 25.09.2019;

      c) Flat rolled product of steel, plated or coated with alloy of Aluminum or Zinc, originating in or exported from People‟s Republic of China, Vietnam and Korea RP, imposed vide notification No. 16/2020-Cus (ADD) dated 23.06.2020.

       

      5.

      Countervailing duty is being temporarily revoked for the period commencing from 2.2.2021 till 30.09.2021, on imports of Certain Hot Rolled and Cold Rolled Stainless Steel Flat Products, originating in or exported from People‟s Republic of China, imposed vide notification No. 1/2017-Cus (CVD) dated 07.09.2017.

       

      6.

      Provisional Countervailing duty is being revoked on imports of Flat Products of Stainless Steel, originating in or exported from Indonesia, imposed vide notification No. 2/2020- Customs (CVD) dated 9.10.2020.

      7.

      In Sunset Review, anti-dumping duty on Cold-Rolled Flat Products of Stainless Steel of width 600 mm to 1250 mm and above 1250 mm of non bonafide usage originating in or exported from People‟s Republic of China, Korea RP, European Union, South Africa, Taiwan, Thailand and United States of America has been discontinued upon expiry of the anti-dumping duty hitherto leviable vide notifications no. 61/2015-Customs (ADD) dated 11th December, 2015 and 52/2017-Customs (ADD) dated 24th October, 2017.

       

       

      Full Text:

      Budget 2021-22 + FINANCE Bill, 2021

      Topics

      ActsIncome Tax
      Next ➔